Diksia.com - Washington – U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has been heavily criticized by investors and the crypto-blockchain association.
According to circulating information, the Virtual Currency Association has criticized US authorities for removing Gensler from his SEC position after enacting a controversial policy that caused the bankruptcy of many bitcoin trading platforms. .
As quoted by CryptoBriefing, the association said it “withdraws from all decisions related to law enforcement actions that treat digital assets as securities.”
Members of the Cryptocurrency Association are reviewing Mr. Gensler’s recent controversial actions in filing lawsuits over digital asset trading platforms and tainting the perspective of the non-cryptocurrency world.
They allege that the SEC is deliberately taking this action to begin to slowly lose investor confidence in cryptocurrency trading and ultimately influence the decline of Bitcoin’s market capitalization in the US market. blaming.
Currently, bitcoin trading is still pegged at a high price in the US$30,878 range per US, but US bitcoin trading volume is declining due to tightening by local authorities.
“The time has come for Chairman Gensler to step down from all decisions on enforcement matters concerning digital assets,” said Crypto Blockchain Association member Jake Cervinsky.
SEC sues Binance
Recently, cryptocurrency bookmaker Binance was sued by the U.S. Securities and Exchange Commission (SEC) through the District Court of Columbia in early June.
The indictment was filed by the SEC against Binance and its founder, Zhao Changpeng, as the world’s largest cryptocurrency company allegedly embezzled billions of US dollars worth of customer funds.
Not only that, Binance was also accused of violating the U.S. Securities Act of 1933 and the Securities Exchange Act of 1934 by selling unregistered securities assets. For this reason, the SEC has dropped the lawsuit against Binance.
In addition to Pinnacle, the SEC filed a lawsuit against Coinbase in New York federal court in early June, alleging illegal trading by acting as a broker and operating an unregistered cryptocurrency exchange.
Meanwhile, in early February 2023, Do Kwon of cryptocurrency developer Terraform Labs was also sued by the SEC for an embezzlement scandal.
The lawsuit was filed by the SEC through a U.S. federal court after the U.S. Securities Commission conducted an investigation into the price of the Terra LUNA stablecoin plummeting below $1 or near zero.
A report released by the SEC proved that Mr. Do Kwon committed a criminal act of fraud, causing the loss of 60 billion investor funds without anyone being held accountable.
