Crypto-mother Hester Pierce strikes in the US Sec after setting with Poloniex
Crypto-mother Hester Pierce strikes in the US Sec after setting with Poloniex
- Hester Pierce attacked the US Sec because of a careless approach in the design of crypto laws.
- The SEC has no clear guidelines for crypto companies to operate their business.
The crypto-friendly SEC commissioner Hester Pierce, who is also known as crypto mother, attacked the US-SEC with the Crypto trading platform PolonieX because of its $ 10 million.
On Monday, August 9, the US stock exchange supervision SEC announced that between July 2017 and November 2019 it had reached an agreement with Polonoundex about trade in non-registered securities. The securities supervisory authority also found that the crypto trading platform PolonieX has the definition of "stock exchange" in accordance with the securities laws.
The regulatory authority, however, added that Polonieex could not register as a national securities exchange. In addition, she did not even receive an exception to the registration. Your failure therefore violates Section 5 of the Börsengesetz. Kristina Littman, Head of Cyber Unit of the SEC Enforcement Division
Polonieex decided to meet the Federal Working Act laws by inserting digital securities into his non -registered stock exchange. Polonieex tried to avoid the regulatory system of the SEC that applies to every market to bring buyers and sellers of securities together regardless of the technology used. But the recent setting decision by the SEC has not arrived well with Commissioner Hester Pierce. It called on the US Sec because of its opaque regulatory measures. As a result, crypto companies that work in the United States have no right direction or rules for their operation. After the announcement of the comparison by the SEC, the crypto mother published a public explanation. She criticized the US SEC for being careless when dealing with crypto regulations. Hester pierce noticed : Sure, Polonieex could have tried to register as a securities exchange or as a broker dealer in order to operate an alternative trading system (ATS), a kind of regulated trading center that may be better able to record non-traditional securities. If it had done it, it would probably have been waiting. . . And waited. . . and waited something. She also found that the SEC in turn failed to clarify the operating rules for crypto companies. This primarily includes determining whether an asset is a security. In addition, the SEC has no clear guidelines on the licenses and exceptions that are required for the operation of a crypto exchange. "In view of the fact how slowly we are in the determination of how regulated companies can interact with crypto, the market participants are understandably surprised that we are now coming to the stage with glowing enforcement rifles and argue that Polonieex was not registered or should have been operated under an exceptional regulation," added Hester Pierce. On Monday, the SEC also announced the settlement of its cases with decentralized financial platforms (Defi) that work in the room. The US SEC has charged Defi-Berker Blockchain Credit Partners for fraudulent offers and the sales of non-registered securities worth $ 30 million. : sec makes the first defi comparison against Blockchain Credit Partners Hester Pierce bangs the US Sec
Source: Crypto-news-flash.com
Kommentare (0)