Lawyer Jake Czerwinski of Variant criticized the SEC for its heavy use of Wells Notices – warnings of potential lawsuits.
The SEC has sent such notices to numerous cryptocurrency companies in recent months, including ConsenSys, the developer of the MetaMask wallet. Czerwinski believes the SEC is abusing this procedure to put pressure on the industry.
The regulator recently threatened to sue broker Robinhood, accusing it of trading in unregistered securities.
“It appears that the regulator is using scare tactics to terrorize reputable U.S. companies.”
“If the SEC does begin litigation with everyone to whom Wells Notices were sent, it would be a flagrant violation of the law and a congressional mandate,” the lawyer added. Read the original article – https://ru.investing.com/news/cryptocurrency-news/article-2414128.
