iley Nickel, the Democratic Congressman has publicly highlighted his criticism towards the SEC’s approach regarding the regulation of cryptocurrencies, furthermore creating room for the discussion of the need to protect investors without limiting innovation in the USA
SEC's "Regulation by Enforcement"
Nickel’s criticism comes at a time when there is increasing concern over the SEC’s conduct of digital asset regulation. He sees the SEC’s approach to crypto regulation as an abuse of power, as it makes the environment unpredictable and detrimental to the development of digital business in the United States, causing many businesses to move to other countries that are more open to crypto innovation and businesses.
Call for Collaborative Regulation
Nickel also stresses on the importance for the Congress and public involvement in the process of formation of non-discriminatory and more transparent policies regarding the crypto industry and emerging markets without stifling innovation in the USA
Crypto Regulation: Balance vs. Control
During the past few months, there has been a lot of debate and discussion regarding policies in the crypto market. That is why Nickel’s critique is focused on the current issues of regulatory approaches to the crypto industry, noting that there is a need for a more transparent, fair and mutually beneficial approach to regulation for businesses and for investor’s protection.
