Crypto regulation: SEC relentlessness motivated by political interests?

Since the beginning of the year, the SEC has been attacking the promoters of several cryptos that it considers to be financial securities. Crypto companies like Binance, Coinbase or Cardano have paid the price. For the boss of the latter firm, the policy of the SEC has to do with the defense of hidden interests.

Are the SEC attacks in favor of cryptos?

During the month of June, the SEC fiercely attacked the crypto industry. This, by simultaneously launching lawsuits against Binance and Coinbase. The crypto firm Cardano, like dozens of others, has also suffered the wrath of the regulator regarding ADA, its native crypto.

In the process, ADA finds itself removed from the list of cryptos available on the popular Robinhood trading platform. From, Charles Hoskinsonthe Cardano boss takes every opportunity to recall the cynicism of the rules advocated by the SEC.

In recent months several players in the crypto industry have castigated the inconsistency of the SEC’s regulatory policy. In a recent intervention, the official hinted that the regulator’s aggressive regulatory policy would not be a fluke. It would be explained by the fact that he is politically understood.

The SEC, a puppet of the Republican Party?

What Charles Hoskinson is saying concretely is that the SEC’s regulatory relentlessness is linked to his controversial political connections. In particular those maintained with the Democratic Party, currently in business via President Joe Biden.

As a reminder, it is the President of the United States who appoints the members of the SEC, including its chairman. However, in its race for power, the Democratic Party received large donations from the disgraced founder of FTX, Sam Bankman-Fried.

According to Charles Hoskinson, the Republican Party is trying to restore its reputation following a controversial incident. The SEC would only be the pawn of the latter to achieve this. This would explain why she rages against all players in the crypto industry. This, by systematically prosecuting them as criminals. While it has the capacity and the means to proceed otherwise.

However, Charles Hoskinson thinks the situation could change. Provided, however, that the authorities indicate to the industry the way it must follow. This perspective is not evident without clarification of key issues such as asset classification and decentralization.