'SEC Will Stop at Nothing to Control Entire Crypto Space,' Says Former Federal Prosecutor – Regulation Bitcoin News
Our observations
The United States position as a economic powerhouse is slowly and surely waning with the ascendancy of China and India. Even its position as the number one military force in the world is being challenged.
Before this when the U.S's position was unchallenged the SEC could act wantonly without worrying about its effect on the economic stature of the U.S in the world stage. Things are different now.
In a globalized world, corporations in the U.S can easily shift to friendlier nations.
The tougher the SEC gets the tougher it would get for the United States.
The SEC and other enforcement authorities in the U.S use ambiguous legal provisions in their statute books to their advantage and use them to milk exorbitant fines from their victims.
Litigation is not a choice for most corporations as it is time consuming, drain on resources and bad for reputation.
Image by Gerd Altmann from Pixabay
Hence most corporation prefer to settle for a fine if given a choice. Given this reluctance to enter into litigation, ambiguous legal provisions comes handy for the SEC and other enforcement agencies to use it as a tool to intimidate and extract the maximum fine from their victims in place of the SEC forgoing litigation.
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