This entity in charge of watching over and protecting cryptocurrencies is in the US. It provided direct support to the cryptographic platform Ripple Labs in the legal conflict it is battling with the SEC or stock and securities commission, which will be detrimental to all cryptocurrencies in the future. Platforms like bitcoin-storm.live offer bitcoin trading features like accurate and précised strategies for becoming an independent trader.
This defense organization created an Amicus document, which I present in favor of Ripple, in the extreme action of the SEC to discredit cryptocurrencies.
This process has been in dispute for two years now when the SEC filed a lawsuit against Ripple for an amount of 1,300 million dollars due to unregistered crypto assets exchanges.
It is nothing more than a measure by the SEC to control and supervise the free behavior and exchange of cryptocurrencies since they have realized that these platforms are very profitable and handle very high figures free of tax commitments.
SEC Future Vision
The main objective of the securities and stock exchange commission of the North American country is to establish the Howey decree, which is based on defining transactions and operations as investment contracts that adhere to the regulations of laws and fiscal values of the nation.
The blockchain association assumes that these measures by the SEC may harm the crypto market.
Cryptocurrencies are in great demand and are used worldwide in most commercial exchanges, such as the case of tokens or NFTs, which guarantee operations with intellectual property and the trade for goods and services in projects such as the metaverse that, use the blockchain system.
If these laws created by the SEC through the Howey test are fully implemented, it would directly limit the proper development of the networks, causing the devaluation of cryptocurrencies.
Securities and Exchange Commission evades arguments in favor of cryptocurrencies
The blockchain association has shown that the SE has set aside evidence issued by the Supreme Court specifying that the operations carried out by the Ripple platform are not under the authority of the SEC.
They were making it clear that although the scope of blockchain technology is complete, federal regulations are not, taking into account the statements of the Supreme Court for the benefit of digital currencies and the crypto market, permanently attached to the securities legislation.
The CEO of the blockchain association details that these measures will have a direct long-term impact on the development and growth of the cryptographic digital market, possibly causing a devaluation and rejection by users.
It would result from implementing an archaic regulation in a modern commercial exchange system, decentralized without defined regulation patterns.
Association Blockchain guarantees protection to cryptocurrencies
This entity assumed these measures imposed by the SEC as a possibility to attack the regulation and control that they want to set on cryptocurrencies worldwide, which are not beneficial for the development and modernization of companies and organizations willing to form part of commercial digitization.
Blockchain technology provides security and efficiency to operations carried out on cryptographic platforms; therefore, this excessive desire of the regulatory institutions of the economy to control digital transactions is nothing more than the greed to obtain a large part of the benefits generated by all the cryptographic transactions, a figure that attracts the attention of anyone.
Cryptocurrencies have established themselves in the market as the best form of exchange and digital payment for goods and services and as one of the best options for investment in digital assets.
With time, they have achieved a lot of credibility and trust in the entire world population, making them favorites for trade negotiations and enjoying a fundamental characteristic of their decentralization.
That is why they have been in the crosshairs of all the entities of regulation and world economic legislation, who seek to apply their measures arbitrarily in their uses and applications at any cost.
But at a global level, some entities favor and defend cryptocurrencies since they trust that they will be the most viable option for the development and general economic growth of virtual markets, offering inclusion and profitability to all users within the financial sphere.
Cryptocurrencies are the economy’s future, experts and financial market analysts assume, as long as they maintain their regular operation, that is, their absolute decentralization in their operations and commercial exchanges.