Brian Kintentz: "Sec uses unprecedented measures to destroy the crypto industry" – Bits Media

The head of the policy of the A16Z cryptocurrency fund said, that the lawsuits of the commissions on securities and exchanges (SEC) Against the Binance and Coinbase exchange, they talk about the readiness of the regulator for unprecedented hardness methods of coercion.

Brian Kintentz (Brian Quintenz) stated, that the judicial claims of the SEC against the largest cryptocurrency exchanges, as well as the intention to freeze part of Binance assets, demonstrate an irresponsible transition to forced regulation methods.

The top manager believes, that in order to fulfill its control mission, SEC should be responsible to cooperate with market participants, To timely update regulation rules and make clarity to the practice of application. Instead, the actions of the commission cause tangible damage to the crypto industry in the person of entrepreneurs, investors and consumers, At the same time threatening to strangle innovations and displace industry companies outside the United States.

On Wednesday, 7 june, Chairman of the U.S. Securities and Exchange Commission Gary Gensler (Gary Gensler) Officially voiced
The position of the department: The USA does not need any other crypto assets, Since the country has its own state digital currency of the Central Bank.