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❕NEWS SEC Asking for Jurisdiction Over All Crypto Exchanges Is 'a Blatant Power Grab,' Says Lawmaker

Y

Yusra31

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Congressman Patrick McHenry of the United States of America has lambasted the Securities and Exchange Commission (SEC) for requesting jurisdiction over all crypto exchanges including those that do not deal in securities. "We don't need another secret deal between Gensler and Elizabeth Warren," he said, adding, "We don't need another obvious power grab that will harm American innovation."
 
Indeed cryptocurrency should be Decentralized . If government wants to come into it , they should come in such a way that will not affect the exchanges and investors
 
Yeah You Are Right If That Becomes The Same Thing Who Would Like To Have When Crypto Will Be Controlled Centrally No Sense In It Actually
 
I so dislike power grab because most times it leads to dangerous manipulation. This is a decentralized network so they need to be careful to avoid clash with investors now or in the future
 
That's Right , You Can Not Them The Complete Authority Else They Will Make Trading Activities Almost Useless For Everyone To Be Honest Actually
 
I think SEC show of shame is becoming glaring. They should come out openly and tell us that they need to generate revenue for the government and not just witchhunting.
 
Well That's Just How An Scripted Show Behaves And Only Those Who Don't Know The Truth About It Get Amused From It Tbh Actually In My Opinion .
 
Well That's Just How An Scripted Show Behaves And Only Those Who Don't Know The Truth About It Get Amused From It Tbh Actually In My Opinion .
Like you noticed it too. They come barking at successful crypto platforms. Later they'll settle for a fee and boom,case closed. I've not seen them make regulations to prevent crypto scams.
 
The way the government and it's financial institutions control finances is what makes people to look to cryptocurrency. Trying to wrestle that power from the people will not be good.
 
I think the regulation from sec dosent seem like a power grab for me , because the regulation is actually to reduce scams ,money laundering and other ,the positive effect is more compared to the power grab the person is insuinating , although sec have been very effective in terms of cryptocurrency scam and others
 
What sort of development this is truely negative because one can estimate that the sec wants control if they get it the country gets control , the idea gets ruined , the people lose their asset , it gets flopped and dumps badly , the dictation of the big states win and that's bad no one wants it
 
Congressman Patrick McHenry of the United States of America has lambasted the Securities and Exchange Commission (SEC) for requesting jurisdiction over all crypto exchanges including those that do not deal in securities. "We don't need another secret deal between Gensler and Elizabeth Warren," he said, adding, "We don't need another obvious power grab that will harm American innovation."
its typical that the usa uses the carrot & stick approach, when they want to control something. the sec is no different. they want control over peoples money & how they spend it. the banks work in the same way. he who controls the money supply, controls the country or masses. that is why governments are so scared of cryptos, its out of their control for the moment.

whats the use of decentralized cryptos if the governments control it in the end ?¿?
 
What sort of development this is truely negative because one can estimate that the sec wants control if they get it the country gets control , the idea gets ruined , the people lose their asset , it gets flopped and dumps badly , the dictation of the big states win and that's bad no one wants it
yes exactly sec wants that control and regulation , they are actually even trying to prevent people funds from getting scammed and other ,I think no doubt if looked in a broader difference ,I think sec really have a major importance if only people could know how beneficial it could be
 

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