I think the SEC should have been abolished yesterday, and there should be a totally free market in investments.
That would be better for everyone except the insiders who benefit from the cronyism of the current system.
That said, as a practical matter, nobody should be surprised that the SEC and US government go after those who flout it.
If you have a centralized group of people creating a digital token, giving a bunch to themselves, marketing it to pump the price, and then dumping it on the retail market without a registration statement and disclosing who owns the token, that’s like sticking your head in a crocodile’s mouth and hoping it doesn’t bite.
You would have to be pretty dim not to see the SEC would inevitably go after crypto. Anyone with their eyes open could have seen it coming from a mile away.
https://financialunderground.com/articles/the-crypto-crackdown-intensifies-what-comes-next-and-what-you-need-to-do-now/
NickGiambruno / Nick Giambruno
npub1wgj…e082
2023-06-12 19:27:59
Author Public Key
npub1wgjh30uxvvepumxhl3qlfzmt4chueprxmcvrxyw0wjtv9m4w8zwq3se082Published at
2023-06-12 19:27:59Event JSON
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"content": "I think the SEC should have been abolished yesterday, and there should be a totally free market in investments. \n\nThat would be better for everyone except the insiders who benefit from the cronyism of the current system.\n\nThat said, as a practical matter, nobody should be surprised that the SEC and US government go after those who flout it.\n\nIf you have a centralized group of people creating a digital token, giving a bunch to themselves, marketing it to pump the price, and then dumping it on the retail market without a registration statement and disclosing who owns the token, that’s like sticking your head in a crocodile’s mouth and hoping it doesn’t bite.\n\nYou would have to be pretty dim not to see the SEC would inevitably go after crypto. Anyone with their eyes open could have seen it coming from a mile away.\n\nhttps://financialunderground.com/articles/the-crypto-crackdown-intensifies-what-comes-next-and-what-you-need-to-do-now/",
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}