The popularity of the US Securities Regulatory Agency is now declining and now people are not interested in what this regulatory agency is doing against crypto companies.
The US Securities Exchange Commission (SEC) is the main US financial regulator. Gary Gensler, the chairman of this independent government regulatory body, is trying to regulate the US crypto market according to the traditional securities laws, which were developed several years ago before the origin of the crypto industry. The SEC bureau is known as a crypto hater for its poor crypto regulation.
Recently, some reports noted that the popularity of this US regulator is now sharply declining. After the agency’s regulatory action against US public crypto exchange Coinbase (COIN) and Ripple’s SEC lawsuit victory, it’s unlikely that people will search and discuss the SEC’s activities.
Pro XRP supporter and founder of the CryptoLaw company, John Deaton, spoke on this thing, saying that unfair blind regulatory action by the SEC resulted in the downfall of the agency’s “power and influence”.
In another Tweet, John Deaton slammed former SEC chairman Jay Clayton, indirectly saying that he was not kind to the crypto sector when he was SEC chairman, but later joined a crypto company, obviously for personal benefits only.
Get behind Crypto Alliance
On August 15, 2023, Coinbase Exchange launched a non-profit Crypto organization to represent the crypto industry and promote pro-crypto policies around the world.
With the help of this non-profit organization, Coinbase Exchange aimed to bring the voice of US crypto investors against bad crypto policies.
Also Read: PayPal Allows Bitcoin Purchases Through PayPal Stablecoin: Crypto Hub
