Could SEC activities still be considered anti-CEX?

[Raymondblue]

For a long time, I have never been a fan of the security and exchange commission (SEC) led by his chair person Gary Gensler. I have always thought that the commission is totally against the activities of crypto and exchanges due to stringent laws and policies constantly being rolled out which obviously have affected the adoption of crypto in the United States and other countries as well but looking at the current realities of Binance CEO pleading guilty to anti money laundering (AML) policy which is against the activities of CEXs and the shutting down of Bittrex global as a result of bankruptcy, I think the commission is actually fighting a just course in ensuring the security and protection of users funds hence the need for regulatory compliance from CEXs.

It began to dawn on me when this issue came up and I can now understand why Binance have been exiting countries where regulatory compliance becomes mandatory. Having already exited countries like Canada, UK, Japan, Australia and a host of others and now ready to pay a whooping $4.3 billion in fine, do you think Binance will still hold the reputation it has kept all this while or is there any other exchange one can look forward to?

 

[I am Praise]

I understand the need for regulations cos it protects users interest. Though It seems like going after top rated exchanges and their CEO's has become their stock in trade and this makes me question the motives of SEC. Its almost as if SEC is becoming anti-crypto
In the wake of all these events, users are now looking up to exchanges that are more compliant to regulations and I hear Bitgetglobal is at the top of this list.

 

[Maxicreed]

For a long time, I have never been a fan of the security and exchange commission (SEC) led by his chair person Gary Gensler. I have always thought that the commission is totally against the activities of crypto and exchanges due to stringent laws and policies constantly being rolled out which obviously have affected the adoption of crypto in the United States and other countries as well but looking at the current realities of Binance CEO pleading guilty to anti money laundering (AML) policy which is against the activities of CEXs and the shutting down of Bittrex global as a result of bankruptcy, I think the commission is actually fighting a just course in ensuring the security and protection of users funds hence the need for regulatory compliance from CEXs.

It began to dawn on me when this issue came up and I can now understand why Binance have been exiting countries where regulatory compliance becomes mandatory. Having already exited countries like Canada, UK, Japan, Australia and a host of others and now ready to pay a whooping $4.3 billion in fine, do you think Binance will still hold the reputation it has kept all this while or is there any other exchange one can look forward to?

Despite the fact that I have my reservations on SEC clamping down on some crypto exchanges, it's also good to question money laundering activities on exchanges cos it will help ensure sanity in this industry that has been plagued with so many questionable transactions.
I think it's high time we don't just choose an exchange because of the name but what they have built for themselves over the years.

 

[BashirJasper]

For a long time, I have never been a fan of the security and exchange commission (SEC) led by his chair person Gary Gensler. I have always thought that the commission is totally against the activities of crypto and exchanges due to stringent laws and policies constantly being rolled out which obviously have affected the adoption of crypto in the United States and other countries as well but looking at the current realities of Binance CEO pleading guilty to anti money laundering (AML) policy which is against the activities of CEXs and the shutting down of Bittrex global as a result of bankruptcy, I think the commission is actually fighting a just course in ensuring the security and protection of users funds hence the need for regulatory compliance from CEXs.

It began to dawn on me when this issue came up and I can now understand why Binance have been exiting countries where regulatory compliance becomes mandatory. Having already exited countries like Canada, UK, Japan, Australia and a host of others and now ready to pay a whooping $4.3 billion in fine, do you think Binance will still hold the reputation it has kept all this while or is there any other exchange one can look forward to?

I love your defence but I'm still not convinced if they actually meant well for users judging from their ways of coordinated attack on these CEXes and other blockchain projects. One thing is for sure though, massive crypto adoption is inevitable with the BTC and ETH spot ETF about to be approved using CEXes as assets custodian.

 

[Captainsaudi]

I love your defence but I'm still not convinced if they actually meant well for users judging from their ways of coordinated attack on these CEXes and other blockchain projects. One thing is for sure though, massive crypto adoption is inevitable with the BTC and ETH spot ETF about to be approved using CEXes as assets custodian.

I strongly believe that SEC are trying to control the industry that explain the crackdown on top players and attempt to get them out of the picture. Nevertheless, crypto adoption keeps increasing and i anticipate ETF approval sooner than anticipated. Also is advisable to stick with exchanges that are regulatory compliance to SAFU.

 

[ImamShaheb]

I understand the need for regulations cos it protects users interest. Though It seems like going after top rated exchanges and their CEO's has become their stock in trade and this makes me question the motives of SEC. Its almost as if SEC is becoming anti-crypto
In the wake of all these events, users are now looking up to exchanges that are more compliant to regulations and I hear Bitgetglobal is at the top of this list.

The thing is, if SEC is wrong here, then why it's Nance only? Nance/Bybit/Kucoin all of these have left Canada dayyys ago while Bitget is operating nicely over there. Why can't they do the same, if they're clean?

 

[I am Praise]

The thing is, if SEC is wrong here, then why it's Nance only? Nance/Bybit/Kucoin all of these have left Canada dayyys ago while Bitget is operating nicely over there. Why can't they do the same, if they're clean?

It is no news that the exchange has been compliant to regulation and this is partly why adoption has been on the increase for them and lets hope it stays that way.

 

[BashirJasper]

I strongly believe that SEC are trying to control the industry that explain the crackdown on top players and attempt to get them out of the picture. Nevertheless, crypto adoption keeps increasing and i anticipate ETF approval sooner than anticipated. Also is advisable to stick with exchanges that are regulatory compliance to SAFU.

You're right on point there. Regulations have become a big part of crypto now but SEC antics are rather considered alien, I guess they might wanna shift their grounds later beginning with the approval of the BTC and ETH spot ETF.