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The SEC is "killing" crypto so they can control crypto.
The playbook:
1. Cut the on/off ramps to starve the ecosystem of liquidity (limiting existing crypto businesses' earnings)
2. Create a dubious regulatory environment to deter new startups from entering the space
3. Purposefully deny regulatory licenses to crypto businesses + take legal action against them
4. Pave the way for TradFi institutions to take over the space by granting them the appropriate approval (today BlackRock filed for a $BTC ETF)
The SEC doesn't like idea of "crypto cowboys" controlling the industry.
They'd rather give licenses to companies they know they can control (or companies that "control" them 🤔)..
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