Known for its tough stance on cryptocurrencies, the US Securities and Exchange Commission (SEC) has recently become more ruthless towards the crypto industry.
Because the SEC has recently filed lawsuits or sent warnings to many crypto-related people and platforms, including Coinbase.
While the SEC's brutal stance continues, people who spoke to the Financial Times said that the SEC will continue to increase its sanctions.
In this context, John Reed Stark, former head of the SEC Internet Enforcement Office, told the FT that the SEC is not going to stop.
“We are in the midst of a regulatory attack against cryptocurrencies and their industry.
It seems like a new lawsuit is filed every day targeting the industry.
The SEC will not sit back, especially when investors are at risk.
Investors may not like the rules, but just like seat belt laws, sometimes investors need protection from themselves."
Evaluating the SEC's stance on crypto and its sanctions, software engineer and crypto industry critic Stephen Diehl said it was difficult for the SEC to change its mind.
“Given that they are suing a new crypto company every week, I doubt the SEC will change its mind.
The challenge of proving that cryptocurrencies are a safe investment for Americans' retirement accounts is on the crypto industry.
As it is known, the SEC filed a lawsuit against crypto exchanges such as Kraken and Gemini, while sending a Wells notice to the largest US crypto exchange Coinbase.
The SEC also sued Tron (TRX) founder Justin Sun for violating securities rules.
*Not investment advice.