United States of America have any crypto regulation?I feel like this is one of the most frustrating things the crypto industry faces.What can we do and what can't we do?Entrepreneurs in America want to create services for mainstream crypto adoption.However, the SEC prefers to litigate unjustly instead of actually creating rules like we've seen with library Coinbase, Kraken, XRP.
The SEC just published a document called 2023 SECOIG Management and Performance Challenges, and what I'm about to read to is shocking because of the problem that we see in all sectors of our public service.The FCC also faces challenges in recruiting specialist in crypto assets which enforcement considers critical to strengthening its capabilities to investigate new and emerging issues in crypto asset markets.
Officials in several SEC division cited small candidate pool of qualified experts and high competition from the private sector recruitment as challenges in filling crypto asset related positions.Officials reported that many qualified candidates hold crypto assets, which the the Office of Ethics Council is determined would prohibit them from working on a particular matter affecting or involving crypto assets.
According to the SEC officials, has been detrimental to recruiting as candidates are often unwilling to divest their crypto assets to work for the SEC.So basically, if you want to work over at the SEC and work in crypto enforcement and help them create laws that are not only friendly to entrepreneurs, to creators, but also protect retail investors, you can't hold any crypto.
But again, it is OK for our public servants to participate in insider trading, to invest in stocks, to invest in all different types of things, to invest in particular sectors that they create laws about.That's OK.But if you want to work for the SEC as a crypto expert, somebody that knows the industry in and out, you're not allowed to hold crypto.And to me that's absolutely pointless because a lot of what we do in crypto, we test stuff out, we play with different chains, we use wallets, we, you know, buy, sell, swap, stake, whatever that is.
So I'm able to break this information down to you, but the fact that public servants are not able to hold crypto to work at the SEC and come up with clear guidelines to help the SEC protect retail and allow creators to actually actually create the builders.But other sectors are allowed to do that.Nobody in politics should be allowed to create any type of policy for any sector without having experience there.Bye
