SEC Lawsuits Against Crypto are Increasing. Is it Good for the Industry?

Blockchain is one of the most disruptive innovations launched. The notion that it might very well be the next evolution of money has seen it attract interest from all parties. And who wouldn’t be tempted by an innovation that may render the entire banking system invalid? The problem is that the interest is not always positive. Nefarious activities have also been attracted by the high privacy allowed by blockchain. As such, it was only a matter of time before the authorities came knocking. And in the USA, they came banging at the door in the form of SEC lawsuits. Are such activities good for crypto? Read on to find out. Why the High SEC Interest Recently? First things first, one may be wondering why the high SEC interest? Why have there been very few lawsuits in the first half of blockchain’s existence compared to the latter? Well, there are some key causative factors; Authorities are Playing Catch-up in Regulations Blockchain is a very recent invention, just a little over a decade old bitcoin. Even more outstanding is how rapidly it is evolving. For instance, blockchain is firmly considered the cornerstone of web 3.0 development. Given this rapid rate of change may just be scratching the surface of what’s possible with blockchain. And there lies the problem for authorities. Lawmakers have a lot on their plate, given the vast number of sectors to be governed. They are always trying to catch up with the number of innovations in ...