Cryptocurrency Q&A
Are swaths of the cryptocurrency industry breaking the law?
Are swaths of the cryptocurrency industry breaking the law?
Riccardo
Fri Jul 12 2024
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7 answers
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In recent years, the cryptocurrency industry has experienced unprecedented growth, with billions of dollars flowing through various digital currencies. However, with this explosive expansion comes the question of regulatory compliance. Are there swaths of the industry operating in the shadows, potentially breaking the law? Are there illicit activities such as money laundering, tax evasion, or even fraud occurring within this vast and unregulated terrain? As regulators grapple with how to best oversee this emerging market, it begs the question: is the cryptocurrency industry truly operating within the confines of the law, or are there widespread violations that need to be addressed?
7 answers
SumoPride
Sun Jul 14 2024
Alongside Bittrex, the regulator has also targeted other prominent platforms such as Coinbase Global Inc.
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Sara
Sun Jul 14 2024
Since assuming the helm of the SEC in 2021, Chairman Gary Gensler has been a staunch advocate for the oversight of cryptocurrency tokens.
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CryptoMystic
Sun Jul 14 2024
He has repeatedly stated that a significant majority of these tokens fall under the regulatory purview of his agency.
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Maria
Sun Jul 14 2024
Gensler's stance is backed by his belief that many within the cryptocurrency industry have been operating illegally.
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Valentino
Sun Jul 14 2024
This has led to the SEC filing lawsuits against several major exchanges, including Bittrex, in recent months.
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