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Is the SEC trying to escape the regulation of the crypto market?

Is the SEC trying to escape the regulation of the crypto market?

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Answer Is the SEC trying to escape the regulation of the crypto market?

The US Securities and Exchange Commission (SEC) is trying to clarify crypto regulations by filing lawsuits against companies.

The Securities and Exchange Commission is seeking a victory in Virginia federal court due to its past formal conflicts with crypto companies, most notably its case against Ripple.

The SEC Authority and the Crypto Companies Prosecution:

The Securities and Exchange Commission asked the court to give it an early victory in a records dispute over important official documents.

These memos are expected to reveal that the former official had a conflict of interest while supervising cryptocurrencies.

According to the Law360 report, the SEC stated that it had already submitted the required documents.

Read:Hacking a cryptocurrency trading platform and stealing half a million dollars worth

She pointed out that these notes can only be submitted legally.

The panel also argued that any kind of document revision was fully justified.

She added that her search process does not need to be perfect because it is only designed to find records relevant to her business.

Meanwhile, the SEC asserted in a note supporting the summary ruling that its searches depended on the language used by the plaintiff.

The authority added that it is not obligated to continue submitting papers to the new subscribers to the plaintiff.

In the meantime, the plaintiff requested the exact time frame and the names and mailboxes contained in the request.

John Deaton, an attorney for Ripple holders, has criticized the Securities and Exchange Commission (SEC) for deliberately concealing important information.

He pointed out that the pension fund is not the only source of payment from which “Hinman” receives his salary.

He explained that in 2017 and 2018, when he was giving speeches, he received two types of payments.

Read:More controversy over the Terra project after the proposal was amended in the middle of the voting process

Hinman earned $1.57 million from retirement, while he received nearly $9 million from profit-sharing.

Read also:

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