What does the SEC want from the crypto industry?

With the rise in abuse, manipulation and fraud in the crypto industry, the SEC is interested in taking immediate (and much needed) action.

What is the crypto sector?

The crypto sector is broadly defined and houses everything from joke coins with no real business model to Big Tech products and services, such as Meta’s Diem (which was just sold to Silvergate Capital ).

Why are regulators worried about crypto?

This concern also results from the fact that regulators have been trying to enforce the law on crypto players, even in the absence of perfectly fitting regulation, with the Securities and Exchange Commission (SEC) making it clear that it has its eye on the crypto sector.

What happened to the cryptocurrency market in 2022?

Then, in January 2022, cryptocurrency prices fell sharply, including Bitcoin which plunged 50% from its all-time high. That level of volatility in such a large market is a cause for concern regardless of whether you call the underlying crypto-asset an asset, a security, a currency, or a token.