We Play By My Rules
Paranoia is a table top game where only one player knows the rules and the rest find out along the way. Sounds kind of perfect for what the SEC is doing. The one difference is the SEC is not 100% sure and is making the game up as it unfolds making sure they are on the winning side.
I must admit I am quite disgusted with what the US is doing with the latest news about the Nasdaq launching crypto custodial services in Q2 later this year. This is after last week with Fidelity offering custodial services for retail investors. This is like one big game and you make up the rules as you go along by choosing what suits you better and not necessarily the people.
Don't get me wrong this is bullish for crypto in general, but what is wrong with investors holding their own coins? Surely if you are going to invest your money you should have full control of what you have bought. The idea you have it on apiece of paper and not in your wallet sounds kind of everything we are taught not to do.
Binance has been discredited for years being called a scam and the FTX is looking more like a set up as each day passes allowing for this to happen. The American public has been used as pawns to benefit the powers that be having full control over what their investors do. This is manipulation and no wonder the majority of the world is pissed off with the States as they are acting above the law as they are making the laws as they go along.
Things were not adding up with what was going on as we saw the announcement about the Malaysian Government opening their own exchange in June this year which also happens to be the same timings with Q2. I wonder when the EU and UK will announce their exchanges as surely they will be following on with their news.
This is why the SEC is anti staking as what is being offered is not allowing you to earn more through APR and is only on price. This is one way of keeping the masses out of DeFi or a stalling mechanism saving them a few more years.
Surely if you get into crypto even if it is only custodial you will start to learn more and realise how much you are missing out on and will get more involved. This is common sense and will lead to mass adoption at some point so we have at least moved onto first base for now.
I just feel sorry for the American investors as they have been totally played and it has cost them long term. Investments that they have missed out on due to greed and controls happening higher up the food chain is the reason behind all the nonsense. Crypto was not stopping as it was moving forward with or without America and the SEC understand that as thy cannot get their own way world wide as no one cares what they say.
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These bad tactics played by SEC to stop Crypto won't be helpful. We are growing and we will grow in the future also. They will try to put hurdles in our way, but who cares ? we are gonna cross each and every hurdle.