It’s no secret that the original cryptography is the idea of moving away from the protection of the financial system towards decentralization, that is, without a single organ regulation
However, the not rosy bouts from the SEC (U.S. Securities Commission) takeover action by Gary Gensler show that those in power don’t have much of the subtlety of decentralization, and understandably so. After all, a huge cash flows past them
And now we are in an interesting time of events. The SEC Chairman proposes to freeze all assets of the American division of Binance (the largest crypto exchange in the world), which can play a cruel joke on the entire market as a whole
Binance, according to rumors, will in turn allocate a record $ 1 billion for litigation with the SEC. Ripple has already done this before, a few years ago they spent $200 million and still emerged victorious in litigation with the SEC
What awaits us is not clear. I am sure that these are many years of showdown, and we are only observers in this theater
And who will emerge victorious from this game - Binance or the SEC will determine the future development of the entire crypto industry as a whole
They are trying to tighten the screws on us. In general, this trend will also spread to the DEX sector, NFTs, wallets - and in general, everything that is in the crypt will try to crush it for themselves. Let’s hope that the crypto will leave their wild rodeo at least in some form
However, the good news is that more and more projects and their tokens will enter the market with the help of drops to us, active users. After all, then it will be harder for the authorities to bring them to tax obligations.