SEC Gensler Continues To Hammer Crypto

in LeoFinance2 months ago

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Why The SEC Was Created

The SEC was created in 1934 to restore investor confidence in the wake of the 1929 stock market crash. The primary job of the SEC is to protect investors and maintain fair and orderly functioning of the security markets. It also monitors corporate takeover actions in the United States.

Don't get me wrong the SEC does survey a purpose or well it use to in terms of the financial market. However as of recent years the SEC has become less about the above and instead more about a finger the upcoming police state by instead only going after areas and people with enough money to make it worth it. It's become a breading ground of attorneys for the government to get their feet wet and into larger actions.

It no longer serves it's original role of restoring investor confidence. Remember the last time you got a payment from a large class action settlement? Well you got pennies back on your investment or nothing at in while all that money went to funding new attorneys and the government. So yeah when I say the SEC has clearly lost it's original intent.

SEC Continues To Go After Stablecoins

Stablecoins currently are their main entry point into the crypto space and to regulate things. If it were up to me Stablecoins would be out of here. If you peg something at $1 you clearly are introducing FIAT to the system and guess what SEC and governments have FULL control over that as it's their asset class.

I know stablecoins wont be going away any time soon in fact it will most likely be used more so the only real way I see in combating it is to make sure you don't tie any of your wallets to any of these stable coins as knowing our government and others they will be tracking it.

I recent ran into this it's from the Satoshi Bitcoin white paper and I want it to really sink in as it really is an eye opener. Think about it for a moment. Every time you pay even 0.001% more in taxes that is 0.001% less freedom you now have. Every day and over years we continue to LOSS our freedoms instead of keeping them. They are slowly being eaten away over time.

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We need to remember the real visions of cryptocurrency. Why it was created and the true benefits for more freedom. It isn't something that should be taken lightly.

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I see this as bullish for Bitcoin, shitcoins are basically unregistered securities or private equity hacks and stable coins are an unbacked shit show waiting to explode

Both are a unnecessary drag on the bitcoin ecosystem!