Federal judge blasts SEC for poorly argued attempts to claim cryptocurrencies must be regulated by them.

SEC agents cannot explain to a federal judge what its policies and attitudes regarding virtual currencies are—or how they are going to impact the industry.

Highlights

• U.S.
• bankruptcy Judge Michael E. Wiles criticizes SEC for trying to force through their attitudes about cryptocurrencies-as-securities.
• Wiles finds this situation highly aggravating, noting that “Voyager operated, and Binance.US currently operates, in a regulatory environment that at best can be described as highly uncertain” Wiles: “The SEC has filed some actions against particular firms with regard to particular cryptocurrencies, and those actions suggest that a wider regulatory assault may be forthcoming” The CFTC [Commodity Futures Trading Commission] seems to have taken some positions that are at odds with the SEC’s views, Wiles says.

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