My thoughts on the SEC and the CFTC in recent weeks has been almost despair. I see beaurcrats reaching for power and authority they never should have. I see the underpinnings of an out of control group of government employees that have developed a God complex.
They are stuck in a time warp from 40-60 years ago, and they think they are going the right way on their regulatory journey.
For the moment, someone has shown a glimmer of common sense in that they read and they write. A great and short article here on the new regulations.Not fiction, but regulations.
I do not agree with all the regulations fausted on normal commerce partakers, but if someone would at least stick to the written rules, we could hope to have a chance at suceeding ( no thanks to congress ).
Yes, they are way behind the curve in techology and really have no understanding of the Crypto Assets world. But, like this old car; be careful and don't drive too fast lest you catch up with the world. Then you will really be in for "future shock".