Crypto is Getting Deported From the US

TL;DR

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The SEC has “gone full Oprah” with these Wells notices (aka: “we plan to sue you” notices).

ICYMI — up to now few weeks, the SEC has handed out Wells notices to:

Uniswap (the world’s largest decentralized change).

Consesnys (the creators of the world’s hottest scorching pockets, MetaMask).

And simply yesterday, Robinhood (you already know — the app you used to purchase your $GME inventory with just a few years again).

It’s unclear what angle of assault the SEC will take with Robinhood — however it doesn’t actually matter at this level.

What issues is the bigger image that’s being painted right here…

As a result of the assault is not centered on anybody chain or firm — however as a substitute the entire the important thing items of infrastructure that make blockchains work.

So when you solely maintain Bitcoin, and really feel apathetic to this regulatory blitzkrieg as a result of it’s largely been centered on Ethereum, Solana, and XRP to date…

We’ve some unhealthy information.

If the peer-to-peer change of cryptocurrency through apps like MetaMask and Uniswap are outlawed within the US, that very same authorized precedent may be wielded to stop you from taking custody of/spending your Bitcoin.

Level is — we’re not speaking about an assault on sure crypto protocols, however on the business as entire (through its infrastructure).

Glass half full: even when the SEC have been to succeed right here, crypto would survive.

Glass half empty: no matter whether or not the SEC fails or not, these continued enforcement actions will push innovation out of the US lengthy earlier than any of those instances are dominated on.

Two emphatic thumbs down.