Image
Image
27-29 May, 2025
Image 27-29 May, 2025

Las Vegas, NV

Skip to content
Subscribe
  • Home
  • Services
  • Video
  • Events
Subscribe

Reading

Regulatory “Siege” Underway For U.S. Exchanges — Warns Ex-SEC Official
News Markets

Regulatory “Siege” Underway For U.S. Exchanges — Warns Ex-SEC Official

In a recent statement, John Reed Stark, former SEC official issues a cautionary warning of the upcoming “siege” on U.S. exchanges.
Alex Lari
By: Alex Lari
Oct 27, 2023
3 min read
Regulatory “Siege” Underway For U.S. Exchanges — Warns Ex-SEC Official

In a recent statement, John Reed Stark, the founder and former chief of the Office of Internet Enforcement at the U.S. Securities and Exchange Commission (SEC), issues a cautionary warning of the upcoming “siege” on U.S. exchanges.

John Reed Stark, the founder and former chief of the Office of Internet Enforcement at the U.S. Securities and Exchange Commission (SEC), has recently shared his views on the regulatory actions taken by the institution against two prominent digital asset exchanges, Coinbase and Binance.

Read more on the subject : Bitcoin Plunges Below $26,000 As SEC Sues Binance

Stark expressed his concerns, stating that these trading platforms are fraught with high risks, dangers, and inherent insecurity. As a result, he strongly advises investors to withdraw their funds from all these exchanges.

Drawing upon his extensive 19-year collaboration with the SEC, Stark expressed his belief that the regulatory actions taken against Coinbase and Binance could mark the beginning of a broader digital assets regulatory “siege” that may encompass other companies within the industry. Providing further insight, Stark elaborated on his perspective:

Get out of crypto platforms now, I can’t say it any plainer. I believe that we now know for certain that crypto trading platforms are under a U.S. regulatory/law enforcement siege which has only just begun.

Additionally, Stark emphasized his perspective that digital assets trading platforms are characterized as “high-risk, perilous, and inherently unsafe.” He further asserted that the SEC’s enforcement actions align with this viewpoint, indicating that the regulatory measures taken by the institution are moving in the right direction.

In the tweet, Stark highlighted the detrimental consequences of digital assets exchanges not registering with the SEC, saying it severely restricts the organization’s ability to “safeguard investors.”

He added that the absence of registration has created an environment in which these markets can operate with minimal supervision.

Stark provided additional details, emphasizing that the SEC faces significant limitations in terms of oversight, access, and the ability to effectively detect, investigate, and deter fraudulent activities within digital asset trading platforms.

The SEC has filed charges against Coinbase and Binance for operating unregistered trading platforms. However, Coinbase CEO Brian Armstrong responded to the SEC lawsuit by refuting the notion that the company could register its activities, citing multiple conversations with the organization.

Armstrong recently expressed that there was no viable “path to ‘come in and register'” despite their repeated efforts, leading them to refrain from listing securities.

Read more: Coinbase Demands Answers From SEC In Response To Recent Lawsuit

Similarly, lawmakers have joined in the criticism of the SEC’s position on this matter, accusing the institution of neglecting the digital assets industry.

Senator Cynthia Lummis expressed her dissatisfaction, claiming that the SEC has not adequately facilitated the registration process for digital asset exchanges and has failed to offer sufficient legal guidance to differentiate between securities and commodities.

Stay on top of Bitcoin
news, get weekly updates
in your inbox.

Recommended News

Markets
Markets
Blackstone, World’s Largest Alternative Asset Manager, Invests in IBIT
May 22, 2025
3 min read
By: Alex Lari
Markets
Markets
Twenty One Capital Becomes 3rd-Largest Corporate Holder of Bitcoin
May 15, 2025
2 min read
By: Alex Lari
Markets
Markets
Trump-Backed American Bitcoin to Go Public Via Merger with Gryphon
May 14, 2025
3 min read
By: Alex Lari
All News
Accelerating Adoption
News
  • Adoption
  • Legal
  • Markets
  • Mining
  • Opinion
  • Press Release
  • Learn
  • Sponsored
Company
  • About Us
  • Brand Assets
  • Newsletter
  • Services
  • Site Map
  • Terms & Privacy
Connect
  • Contact Us
  • Contribute
  • Services
  • Media Partner
  • RSS
  • Videos
Social Media
  • Twitter
  • YouTube
  • Telegram
  • LinkedIn
  • Instagram
  • Nostr
  • TikTok
  • Flipboard

© A Bitcoin-Focused Company | 256 Media, 2024

Language Switcher
Search
  • News
    • Adoption
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
    • Learn
    • Interviews
  • Services
  • Video
  • Events
  • News
    • Adoption
    • Interviews
    • Learn
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
  • About Us
  • Contact
  • Newsletter
Search

Popular Articles

BFF25 Event Recap: Unique Fusion of Bitcoin, Cinema & Art
May 31, 2025 · 3 min
Cantor Fitzgerald Launches $2B Bitcoin-Backed Lending Program
May 31, 2025 · 3 min
JD Vance in Las Vegas: “100 Million Americans will Hold Bitcoin”
May 30, 2025 · 4 min
Trump Media Will Raise $2.5 Billion to Build Bitcoin Treasury
May 29, 2025 · 3 min
Blockstream Unveils “Future of Finance Runs on Bitcoin” Vision
May 28, 2025 · 5 min
Michael Saylor Says Proof-of-Reserves is a Bad Idea
May 28, 2025 · 3 min

Bitcoin Only
Newsletter

Get weekly news roundups direct to your inbox!