Crypto Advocates Challenge SEC Authority Amid Regulatory Tensions

The SEC's stringent regulations on cryptocurrencies are drawing significant backlash, especially from Nic Carter, who criticized the agency's policies for pushing investors toward meme coins.

In response to Columbia Business School professor Omid Malekan’s claim that these coins represent a form of “economic populism” against venture capital-backed assets, Carter supported the notion that a more relaxed SEC could reduce interest in speculative investments.

Malekan argues that a Republican presidency might revive ICOs and stabilize the market, potentially reducing the appeal of meme coins. However, Carter contended that some desire for these assets will always persist.

Reactions within the crypto community varied, with analyst Murad suggesting that meme coin popularity is driven more by the increasing global money supply than by political factors. Kook dismissed Carter’s views, asserting that meme coins are simply a form of entertainment in the crypto space.

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The SEC has ramped up enforcement since market collapses like FTX, launching 46 crypto-related actions in 2023 alone, targeting major exchanges such as Coinbase and Binance. Industry leaders are advocating for clearer regulations to navigate the uncertain landscape and foster innovation.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.