{"id":39360,"date":"2024-10-11T11:19:20","date_gmt":"2024-10-11T11:19:20","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-commissioner-says-agencys-approach-to-crypto-has-been-a-disaster-for-the-whole-industry\/"},"modified":"2024-10-11T11:19:20","modified_gmt":"2024-10-11T11:19:20","slug":"sec-commissioner-says-agencys-approach-to-crypto-has-been-a-disaster-for-the-whole-industry","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-commissioner-says-agencys-approach-to-crypto-has-been-a-disaster-for-the-whole-industry\/","title":{"rendered":"SEC Commissioner says agency&#8217;s approach to crypto has been a &#8220;disaster for the whole industry&#8221;"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/90207722_m_normal_none-min-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/90207722_m_normal_none-min-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/90207722_m_normal_none-min-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/90207722_m_normal_none-min-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li aria-level=\"1\">SEC Commissioner Mark Uyeda said the agency hasn\u2019t provided guidance on securities laws<\/li>\n<li aria-level=\"1\">His comments come as Crypto.com sues the SEC for overreaching its regulatory authority over crypto after receiving a Wells notice<\/li>\n<\/ul>\n<p>A US Securities and Exchange Commission (SEC) commissioner has said that the agency\u2019s approach to crypto has been a \u201cdisaster for the whole industry.\u201d<\/p>\n<p>Speaking on <a href=\"https:\/\/www.foxbusiness.com\/media\/sec-commissioner-confesses-crypto-approach-has-fueled-disaster-whole-industry\" target=\"_blank\" rel=\"noopener\">Fox Business Mornings with Maria<\/a>, Mark Uyeda, commissioner of the <a href=\"https:\/\/coinjournal.net\/search\/SEC\">SEC<\/a>, said: \u201cI think our policies and our approach over the last several years have been just really a disaster for the whole industry.\u201d<\/p>\n<p>Uyeda added: \u201cWhat has gone on is part of a broader frustration with the fact that we have not provided interpretive guidance as to what you can and cannot do and if you are involved in some sort of securities offering, how you register, how you get regulated as a broker-dealer, how you get registered as an exchange.\u201d<\/p>\n<p>His comments come after <a href=\"https:\/\/coinjournal.net\/news\/crypto-com-sues-the-us-sec-after-wells-notice\/\">Crypto.com sued the SEC<\/a> for overreaching its regulatory authority over crypto in response to a Wells notice the exchange received.<\/p>\n<p>More recently, the <a href=\"https:\/\/coinjournal.net\/news\/sec-sues-crypto-market-maker-cumberland-drw\/\">SEC sued market maker Cumberland<\/a> for acting as an unregistered securities dealer. Cumberland is reported to have violated securities laws by buying and selling more than $2 billion worth of crypto assets since March 2018.<\/p>\n<p>Crypto exchange Coinbase has also launched its legal offense against the SEC, requesting documents from the agency as to how it determines crypto regulation. However, last month, the regulator <a href=\"https:\/\/coinjournal.net\/news\/sec-requests-for-more-time-to-produce-documents-in-coinbase-case\/\">sought an extension to February 2025<\/a> for it to provide documents in its case against Coinbase.<\/p>\n<p>Ripple Labs is also not backing down against the regulator after <a href=\"https:\/\/coinjournal.net\/news\/ripple-labs-files-notice-of-cross-appeal-in-ongoing-battle-against-the-sec\/\">filing a notice of cross-appeal<\/a> in an ongoing battle going back to 2020.<\/p>\n<p>When asked what the SEC could do differently, Uyeda said there is a \u201cneed to lay out some clear guidance and interpretations on what exactly falls within and falls outside of the securities laws.\u201d<\/p>\n<p>Billionaire entrepreneur Mark Cuban has said he\u2019d be interested in <a href=\"https:\/\/coinjournal.net\/news\/mark-cuban-voices-interest-in-becoming-the-next-sec-chair\/\">becoming the chair of the SEC<\/a> if Vice President Kamala Harris becomes the next President of the White House.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/sec-commissioner-says-agencys-approach-to-crypto-has-been-a-disaster-for-the-whole-industry-2\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) SEC Commissioner Mark Uyeda said the agency hasn\u2019t provided guidance on securities laws His comments come as Crypto.com sues the SEC for overreaching its regulatory authority over crypto after receiving a Wells notice A US Securities and Exchange Commission (SEC) commissioner [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":39361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39360"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=39360"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/39361"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=39360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=39360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=39360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}