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Tuesday, May 17, 2022

The SEC is a shaggy dog chronicle and their enforcement is shambolic

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The SEC top doubtless targets low hanging fruit – pat themselves on the help – bear a public yell about it – then don’t even care regarding the licensed follow-by.

They below no circumstances need to attempt cases or companies which could well presumably be out of the ordinary, nerve-racking, or embarrassing. They’re an agency that polices broken windows on the avenue level and on occasion goes to the penthouse flooring!

They contact blockchain agencies which could well presumably be preserving token gross sales and pressure them to discontinuance and refund merchants. They roar to “save truthful, smooth, and efficient markets, and facilitate capital formation” however play fine to enormous companies, whereas employees blueprint discontinuance very excessive paying non-public sector jobs after working there!

They shells out billions and billions of fines every twelve months however an limitless quantity of those fines chase to enormous banks, some of basically the most wrong companies on earth!!

Their enforcement division is measured by top doubtless two metrics, the volume of cases filed and the monetary penalties – better than half of of SEC employees are made up of enforcement personnel and examination group – they need serious reallocation of their sources! Ample is sufficient!! Gary that you would perhaps need taught that MIT class however you’ve got no industry ‘regulating’ the formula forward for global finance!

TLDR; The SEC is a unnecessary authorities body that does NOTHING to if fact be told provide protection to merchants, top doubtless favors enormous industry, and could well presumably also aloof give up the HELL faraway from cryptocurrencies.

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