Are we finally going to get some sort of clarity when it comes to crypto with the SEC?Well, it looks like the SEC is set to start examining the crypto industry by 2024. I didn't know some of you were probably thinking what in the actual heck is happening?Why is this taking so long?Why hasn't the SEC done anything to help kind of protect investors, especially as retail investors?Well, as you know, he was put into power by the current sitting president.And that particular administration is not too particularly bullish on crypto, which is OK because the SEC is actually going to start looking into crypto and giving us some sort of clarity according to the recent news.The good stuff is that we were going to finally actually understand what we can and can't do in the industry, OK.We also know that California put out a brand new law to kind of help kind of push crypto innovation forward.As far as regulation goes, it's very ambiguous.But the bad news is, is that we don't know how they're going to want to examine crypto or what type of outcomes are going to have.As we know, we have a bunch of people that are out here saying that crypto is bad, that if facilitates really bad transactions, when in reality I think like less than 1% of crypto transactions are actually illicit.
So we're going to have that type of narrative being pushed out.But at the same time, you and I have the power to actually write to the SEC and tell them that we think crypto is good and to give us some kind of Fair regulations.what type of things that we can expect from this crypto examination as early as 2024.And again, this is really good news guys, because they have unjustly gone after Coin Basin, Kraken and Ripple and Library and Grayscale and all these other entities.So the SE CS 2024 Examination Priorities Report has been released and the SE CS Division of Examination has been publishing similar reports for over a decade to let its residents know the emerging risks it will be focusing on.Crypto dealer brokers have been given notice and team set up this year will be addressing crypto fintech and AI and of course cybersecurity.So that basically means the SEC is going to have their hands full, It's also going to be focusing on automated investment tools, AI, and different types of training platforms.Training platforms make sense Also, the examinations will look at how well registrants meet standards of conducting regarding customer advice and their understanding of the products the registrants offer.Also, there's going to be a big emphasis on protecting older investors and retirement assets and they are also going to be evaluating handling of risks associated with using blockchain and distributed LEDGER technology.
Overall, for me this is great news.
