It's Worst Week in Crypto History
Anthony Scaramucci, the author of SkyBridge Capital and a close friend of President Trump's, has been one of the many folks who can offer some sapience into what is going on in Washington.
With his rearmost tweetstorm, he has made it clear that he thinks the chairman isn't doing enough to cover crypto investors.
He explains why in a series of tweets
The chairman needs to stop all this “ paper trading ” gibberish. He should be concentrated on guarding investors from swindles and frauds. That means administering being laws like Dodd- Frank( which requires companies to report deals over$ 10K), or proposing new bones
like a fiduciary standard for crypto finances.The SEC is being largely ignored by controllers and politicians likewise. It needs further backing, better leadership and better representation in Congress so that it can do its job without having to calculate on political favors from Assemblywomen who are trying to get rich off their investments in cryptocurrencies rather than cover investors' interests.
Congress should pass legislation clarifying which commemoratives are securities and which aren't. If a commemorative is considered a security also all commemoratives should be treated as securities anyhow of whether they were created by an