Analyst Alleges SEC’s Attempt to Stifle Crypto Growth for Power

  • Crypto analyst Miles Deutscher’s tweets expose the SEC’s purported plan to “kill” crypto in order to gain control.
  • Uncertainty and doubt are key tools in the SEC’s strategy to deter new startups from entering the crypto space.
  • With the SEC allegedly denying regulatory licenses, questions arise about their true intentions.

Crypto analyst Miles Deutscher took to Twitter to express his concerns about the actions of the SEC, claiming that they were deliberately “killing” the crypto industry in order to gain control over it. In a series of tweets, Deutscher outlined what he referred to as the SEC’s playbook.

According to Deutscher, the first step in the SEC’s strategy is to cut off the on/off ramps that provide liquidity to the crypto ecosystem. By limiting the earnings of existing crypto businesses, the SEC aims to starve the industry of financial resources. This would have a detrimental effect on the growth and sustainability of the crypto market.

The second tactic highlighted by Deutscher involves creating a regulatory environment that is riddled with uncertainty and doubt. This ambiguity is intended to deter new startups from entering the crypto space, as they would face increased challenges and risks due to unclear regulations. The SEC’s aim here is to stifle innovation and discourage potential competitors from emerging.

In the next step, Deutscher claims that the SEC purposefully denies regulatory licenses to crypto businesses and initiates legal actions against them. This approach serves as a means of exerting control and hindering the operations of crypto companies. By limiting their ability to obtain licenses and subjecting them to legal battles, the SEC aims to maintain authority over the industry.

The final part of the SEC’s alleged playbook, as described by Deutscher, involves paving the way for traditional financial (TradFi) institutions to enter and dominate the crypto space. Deutscher points out that granting regulatory approval to these institutions, such as the recent filing by BlackRock for a Bitcoin ETF, signifies the SEC’s inclination to support established financial players over what they perceive as “crypto cowboys,” who may have less controllable influence.

Deutscher concludes by emphasizing the SEC’s apparent aversion to the idea of independent actors controlling the crypto industry. Instead, they prefer to grant licenses and approvals to companies they can exert control over or that hold influence over them.

As Deutscher’s tweets spread across social media platforms, they ignited a wave of discussions and debates within the crypto community. While some expressed agreement and shared similar concerns about the SEC’s actions, others questioned the validity of these claims and called for more evidence and analysis to support the assertions.

Source: https://coinedition.com/analyst-alleges-secs-attempt-to-stifle-crypto-growth-for-power/