Many cryptocurrency projects violate the rules for the protection of investors and deserve more careful control by regulatory authorities. A group of activists representing the interests of investors, in a letter to the Chairman of the Securities and Exchange Commission and Exchange Commission (SEC), called to improve the supervision of the authorities in a letter.
Steel (cryptocurrencies attached to real assets – cash, commercial papers, corporate bonds or physical goods), cryptocurrency lending and stock exchanges deserve increased attention from SEC, the collective appeal of the Americans for Financial Reform Educational Fund, Federations consumers of America and other human rights groups. “Without significant regulatory regulation, the digital assets market was born and turned into a wildest”, “representatives of organizations wrote, repeating the metaphor, often used by the General himself. – “Commissions and other federal financial regulators urgently need to ensure compliance with the law to better protect investors and improve the integrity and stability of digital assets markets.”
Since the stelkopins are provided not only by stable assets, but also bonds, in the letter it is argued that they are vulnerable to market shocks, like other cryptocurrency. “Obviously, both products can create significant risks for investors and consumers,” they say human rights defenders about Tether and USD Coin, the two largest stelkins. Some legislators claim that Congress and regulators need to clarify the rules of turnover of securities against the background of the active development of the new technology. However, activists believe that SEC should ensure compliance with already existing laws for the protection of investors, and not to create obstacles to the cryptocurrency industry.
sec and other regulators enhance control over the digital money market, which over the past decade has grown into a multimillion-dollar industry and can turn the traditional financial system. The Commission threatened several times by lawsuits to participants in the sector, criticizing new cryptoprojects. The popular Coinbase Exchange recently postponed the launch of a cryptocurrency lending program after SEC suspected the project in the illicit trafficking of securities and threatened the exchange of a lawsuit in the event of launching the service. The US Department of Finance, together with other government agencies, also analyzes the stock market and develops recommendations for new rules for supervision and regulation.
Concerning activists can be justified by the fact that even the most “promoted” blockchas cryptocurrencies may be unreliable. For example, on September 14, the Solana currency flew in the price of the Solana currency occurred, stopping the processing of transactions for 17 hours.