- Sam Lyman accused the SEC of not protecting retail investors’ interests in its regulations.
- Lyman said the SEC has been advancing Wall Street and political interests.
- He stated that the tension between the SEC and the crypto ecosystem highlighted this regulatory capture.
Forbes contributor and long-time crypto advocate Sam Lyman, in a recent interview, accused the U.S. Securities and Exchange Commission of not protecting retail investors’ interests in its regulation of crypto entities.
Lyman asserted that the SEC, under Gary Gensler, has been advancing Wall Street and political interests. “The revolving door between DC and Wall Street spins so fast, it could generate its own electricity,” he said, alluding to their closeness.
He continued that Gensler’s actions aren’t surprising, considering he made “millions on Wall Street” before foraying into politics. Lyman said:
The leadership at SEC, people like Gary Gensler, who do they rub shoulders with every day? Is it the grandma who just bought her bitcoin, is it the teenager who just downloaded Coinbase (NASDAQ:COIN) for the first time, or is it their buddies back in Wall Street?
According to the advoc…
The post Crypto Regulation: Is the SEC Acting for Investors or Wall Street? appeared first on Coin Edition.