SEC Lawsuit Against Kraken Highlights Agency's Outdated Crypto Regulation Approach
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The SEC's lawsuit against Kraken is another example of the agency's failure to understand crypto exchanges and digital assets.
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The SEC is aggressively trying to fit cryptocurrencies into a securities framework when they function more like currencies or utilities.
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The SEC lacks technological neutrality and is unfairly targeting crypto platforms, hindering innovation.
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Excessive regulation risks pushing crypto businesses out of the U.S. to more friendly jurisdictions, losing economic benefits.
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The Kraken case shows the SEC must update its approach to crypto regulation to be more informed, reasonable and innovation-friendly.