‘They’re Playing a Game’: What New Yorkers Think of the SEC’s War Against Crypto


21 Nov 2023 6:28 PM

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.

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You May Ask

Is the ongoing battle between the SEC and the crypto industry a good use of tax money?Should crypto be regulated?Is the SEC's "regulating through enforcement" approach helpful?What are the allegations against Kraken, Coinbase, and Binance by the SEC?What is the public opinion on crypto regulation?Note: The questions can be modified or expanded based on the specific information needed.

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