Everyone in the space knows about SEC vs Ripple lawsuit, SEC with its wild accusations thrown around at projects such as LBRY and others.
Are their actions righteous, or is there a hidden message between the lines?
Are all stablecoins at risk?
But they do not back off. Even with current problems following FTX breakdown, and many possible ties between Gary Gensler and Sam Bankman-Fried, SEC continues their crusade against cryptocurrencies.
People in the space have different opinions about centralized exchanges, some praise them, some call them a step back. In my opinion though, it always depends on actions of higher-ups. I'm talking about Cex'es because this time, SEC indirectly attacked Binance, currently biggest Crypto exchange.
SEC intends to file a lawsuit against Paxos, the issuer of Paxos USD and the token which SEC sues them about, BUSD - Binance USD. Paxos is also currently under the probe from New York Department of Financial Services.
Possibility that SEC rules all stablecoins as securities isn't entirely impossible, this would create a big turmoil in crypto space.
You can see a Coindesk article about it here.
Last week, Kraken, another Centralized Exchange, was forced to halt its Staking Services in US, and pay a humongous fine of 30 million USD.
You can see the description of whole event here, on SEC site.
We can clearly see an uptrend in SEC activity in cryptocurrency space.
Is SEC beginning a crackdown on Crypto activities in US?
Or is it only a attack directed at Binance?
We all know that SBF was paying large money to fight with Binance, and Gary Gensler and possibly many other SEC higherups may have an interest in obstructing actions of Binance and possibly destroying it.
I guess time will tell.
None of information in this article should be considered a financial advice, it's my own analysis and facts I wanted to share with this wonderful community.
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Reflinks for some passive income:
https://r.honeygain.me/ZACHW12AF3
https://p2pr.me/16518768406275a3e8c8002
Addresses:
0x4B5692110fF9Ba770b9EC5CEBA20849cF97496EA - Binance Smart Chain and Ethereum
addr1qxsktm5j0yusx00gg9735lrn7ada94n63dvy9g76nn5phms68c08evhlqngru7785nlh6qc20ll700v4pqtqktet3wkqwy07f5 - Cardano
TJevzMtsW7dwNM8amm9JE4fM4digjaegHy - Tron
1ApF4AYaQQthAQ4qMJftx3A3WaY4MfBVML - Bitcoin and Bitcoin Cash
