<\/p>\n
Digital asset legal expert Jake Chervinsky thinks the U.S. Securities and Exchange Commission (SEC) is allocating a \u201cgrossly disproportionate\u201d amount of resources toward regulating crypto.<\/p>\n
Chervinsky, the chief legal officer at the crypto fund Variant, blasted the SEC for recently sending out<\/a> a Wells Notice to Robinhood\u2019s crypto trading arm.<\/p>\n A Wells Notice is a warning issued by the SEC that indicates the regulator is planning to pursue legal action against a company.<\/p>\n Chervinsky argues<\/a> that the SEC is abusing its power.<\/p>\n \u201cThe number [of Wells Notices] they\u2019ve sent about crypto in recent months is astonishing. It\u2019s hard to imagine that they would (or could) bring so many enforcement actions at once. It seems like they\u2019re abusing the Wells process as a scare tactic now.<\/em><\/p>\n The SEC allocates a grossly disproportionate amount of its resources to crypto, given that its actual purpose is to regulate equity and debt markets<\/span>. Every minute and taxpayer dollar spent on crypto is one not <\/span>spent on the real mission that Congress created the SEC to pursue.\u201d<\/em><\/p>\n Last month, Uniswap Labs\u00a0received<\/a> a Wells Notice from the SEC. The regulator has also accused Coinbase, Binance and Kraken of violating securities laws, launching lawsuits against all three exchanges last year.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Digital asset legal expert Jake Chervinsky thinks the U.S. Securities and Exchange Commission (SEC) is allocating a \u201cgrossly disproportionate\u201d amount of resources toward regulating crypto. Chervinsky, the chief legal officer at the crypto fund Variant, blasted the SEC for recently sending out a Wells Notice to Robinhood\u2019s crypto trading arm. A Wells Notice is a […]<\/p>\n","protected":false},"author":2,"featured_media":298153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-298152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=298152"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298152\/revisions"}],"predecessor-version":[{"id":298155,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298152\/revisions\/298155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/298153"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=298152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=298152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=298152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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