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Today the SEC announced a lawsuit against the crypto exchange Coinbase, accusing the company of operating an illegal brokerage of securities.
The Securities and Exchange Commission sued crypto exchange Coinbase in New York federal court on Tuesday morning, alleging that the company was acting as an unregistered broker and exchange and demanding that the company be “permanently restrained and enjoined” from continuing to do so, wrote CNBC.
The issue of token securitization and 'know your customer' (KYC) has long dogged the cryptocurrency marketplace.
Industry leaders have called for self-regulation to combat criminal activity in the space.
“We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said an SEC spokesman.
However, the overarching issue now at play is the U.S. government's war on crypto, led by Senator Elizabeth Warren.
With the massive amount of overt corruption now emanating from the American establishment, we doubt that corruption or criminal activity is the SEC's main concern.
We suspect the lawsuit has more to do with the Federal Reserve's goal of issuing a central bank digital currency to replace the U.S. dollar. A CBDC would allow a complete surveillance and police state and give the Federal government control of every aspect of American citizen's lives.
Bitcoin stands in the way of this goal, as it is decentralized and uncontrollable, except for the exchange into fiat money, which the government can regulate.
We expect his is just one of the first shots in a long war as criminal globalist elements attempt to install their diabolical agenda.
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