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SEC Pushes Anti-Crypto Agenda Under Guise of ‘Investor Education Resources’

During “Financial Capability Month,” the SEC announced “Free Investor Education Resources” on April 3. The initiative’s goal is to raise awareness of the free tools and resources available on its website, investor.gov. Additionally, SEC staff will attend investor education events across the country.

According to the company, these are aimed at a variety of audiences, including students, underrepresented communities, older investors, and the military.

“Being an informed investor is to be a more effective investor,” said SEC Chair Gary Gensler, “and I encourage the public to take advantage of the many resources we offer.”

The SEC’s investor education campaign, on the other hand, includes an anti-crypto agenda. It aims to teach investors how to avoid becoming victims of fraud, and it includes a crypto warning.

The announcement refers to a March article titled “Exercise Caution with Crypto Asset Securities: Investor Alert” on the education website. The agency warns investors in it about cryptocurrency companies that may be selling securities. “Those providing crypto asset investments or services may be breaking the law, including federal securities laws.”

Furthermore, crypto assets have not been officially classified as securities by Congress. This is yet another move by Gensler and his team to demolish cryptocurrency and encourage investors to invest in traditional assets. “The risk of loss for individual investors who participate in transactions involving crypto assets, including crypto asset securities, remains significant,” the SEC warned in the “educational article.”

Gensler has made no secret of his desire to enter the cryptocurrency market this year. The agency’s enforcement actions have increased, and it has requested a larger budget to deal with digital asset firms.

He recently referred to the entire industry as a “Wild West market,” demonstrating his lack of understanding of the scope of blockchain and digital assets. FTX is not a cryptocurrency; it is a centralized broker that should have been regulated accordingly. The SEC’s actions are akin to shutting down the internet because one social media company has done something wrong.

Wait a minute—that is precisely what Uncle Sam is attempting with the RESTRICT act. As BeInCrypto reported last week, the act includes harsh penalties for those who use VPNs. All of this is done to prevent Americans from accessing TikTok. Crypto and other industries appear to be being thrown out with the bathwater by US lawmakers.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.