The U.S. Securities and Exchange Commission (SEC) is unrelenting in its war on crypto. The agency’s latest salvo comes in the form of “free investor education resources,” with free crypto warnings included.
On April 3, the SEC announced “Free Investor Education Resources” during “Financial Capability Month.”
The initiative aims to promote the free tools and resources available on its website, investor.gov. Furthermore, SEC staff will participate in investor education events across the country.
It stated that these aim to attract various audiences, including students, underrepresented communities, older investors, and the military.
SEC Chair Gary Gensler commented:
“To be an informed investor is to be a more effective investor, and I encourage the public to take advantage of the many resources we offer.”
SEC: Anti-Crypto Agenda
However, part of the SEC’s investor education drive includes an anti-crypto agenda. It aims to teach investors how to avoid being victims of fraud, and directly linked to that is a warning about crypto.
The announcement refers to a March article on the education website titled “Exercise Caution with Crypto Asset Securities: Investor Alert.”
In it, the agency warns investors about crypto companies that may be selling securities.
“Those offering crypto asset investments or services may not be complying with applicable law, including federal securities laws.”
Moreover, Congress has not officially classified crypto assets as securities. This is another move by Gensler and his crew to crush crypto and urge investors to put their money into traditional assets. The SEC fear-mongering continued in the “educational article,”
“The risk of loss for individual investors who participate in transactions involving crypto assets, including crypto asset securities, remains significant.”
Gensler has not hidden the fact that he is gunning for crypto this year. Enforcement actions have surged, and the agency has requested a bigger budget to deal with digital asset firms.
Baby and the Bathwater
He recently labeled the entire industry a “Wild West market,” which displays a level of ignorance regarding the scope of blockchain and digital assets.
FTX is not crypto, it is a centralized broker that should have been regulated as such. The SEC’s actions are akin to cracking down on the internet because one social media company has been naughty.
Wait a minute—that is exactly what Uncle Sam is trying to do with the RESTRICT act. As reported by BeInCrypto last week, the act includes severe punishments for those using VPNs. This is all in the name of preventing Americans from accessing TikTok.
U.S. lawmakers appear hell-bent on throwing the baby out with the bathwater for crypto and other industries.
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