‘They’re Playing a Game’: What New Yorkers Think of the SEC’s War Against Crypto
After the Securities and Exchange Commission sued Kraken, a small but trusted exchange, CoinDesk asked passersby for their views on crypto and regulation....
- The U.S. Securities and Exchange Commission (SEC) is engaged in a battle with the crypto industry, which has been calling for regulation for years.
- SEC Chair Gary Gensler and SEC Director Gurbir Grewal believe their lawsuits against crypto companies are justified.
- The SEC's dual mandate is to facilitate capital formation and protect investors.
- Public opinion on crypto regulation is mixed, with some believing it is necessary and others seeing it as jealousy from established financial actors.
- Kraken, Coinbase, and Binance have all faced lawsuits and allegations from the SEC.
- Kraken is accused of commingling customer funds, listing unregistered securities, and having record-keeping issues.
The sentiment towards the SEC's regulation of the crypto industry is mixed, with some supporting it as a necessary measure for investor protection, while others see it as jealousy from established financial actors.