• The SEC has been targeting crypto companies, such as Coinbase, without any clear path from the Biden administration to do so.
• Biden and his nation and innovation-hating cronies are attempting to kill crypto in America.
• Agencies like the SEC have also been seen taking action against products like ProShares’ bitcoin ETF that fell under a 1940s law that could not possibly apply to digital currency.
Biden and the SEC Want to Kill Crypto
Biden and the Securities and Exchange Commission (SEC) are doing everything they can to take away Americans‘ ability to enjoy alternative means of finance via cryptocurrency. Recently, Coinbase was served a Wells notice by the SEC despite having met with them over 30 times in recent years, which proves that the Biden administration is willing to persecute cryptocurrency firms even when there is no wrongdoing involved.
The SEC’s Actions Are Unjustified
The SEC cannot engage in action without a distinct and clear path from Biden to do so but often acts without regard for this guideline. For example, two years ago, Gary Gensler allowed a company called ProShares to launch a bitcoin ETF based on BTC futures rather than spot trading – an inferior product according to traders – yet failed to update its outdated statutes accordingly.
The SEC Is Targeting Companies Without Cause
It appears as though members of the SEC don’t know how properly regulate digital currency yet still choose to persecute companies they don’t agree with instead of introducing new laws or regulations into the space. Additionally, when it comes opportunities for investment like ProShares‘ bitcoin ETF, they fail provide guidance or regulation that would make it possible for these products succeed in today’s market.
What Can We Do?
Given these circumstances it is unclear what can be done about this concerning situation besides bringing attention it through media outlets such as blogs or articles. Hopefully by raising awareness about this issue more people will realize just how dangerous an unchecked government can be when allowed too much power over citizens‘ rights and freedoms.
Overall, it appears that Biden and his cronies are attempting use their power within institutions like the SEC stop Americans from enjoying alternative means of finance via cryptocurrency – something that should not be taken lightly given its importance our financial freedom and stability going forward in today’s economy.