Declaration of "Operational War" against the SEC
Date: 2024-07-09 Author: Oliver Abernathy Categories: BUSINESS
The CEO of analytics company Messari, Ryan Selkis, said his firm would launch “operational warfare” against the US Securities and Exchange Commission (SEC) in the coming months. According to Selkis, Messari intends to actively fight the actions and policies of the SEC, which he considers illegitimate and corrupt.
Criticism of the SEC and Gary Gensler
Selkis introduced a bill called “Declaring Independence from the SEC,” in which he expressed his dislike of the agency and its head, Gary Gensler. The document argues that the SEC is no longer a serious or respected federal agency. Selkis also characterized Gensler as a corrupt, counterproductive and incompetent leader.
“The commission acts in the interests of its federal employees, not its citizens,” Selkis said. He also added that Messari will no longer interact with the SEC, either formally or informally, until the agency is reformed and its leadership changes.
Plan of action against the SEC
Messari plans to pursue a strategy to challenge the SEC's legitimacy through the courts, Congress and the media. The main arguments that the company intends to make include:
- The SEC's approach to cryptocurrencies is ineffective.
- Agency head Gary Gensler is not only incompetent, but also corrupt.
- The Commission has no legal authority to regulate cryptocurrency markets following the Jarkesy and Loper-Bright decisions.
- Further submission to the SEC will result in America losing its leadership in the cryptocurrency sector.
- Messari already offers the market superior global services at no cost to taxpayers.
Supreme Court decisions and the future of regulation
At the end of June 2024, the US Supreme Court limited the SEC's powers in administrative cases, which became an important precedent for Messari's future actions. Selkis believes that this move opens up new opportunities to challenge the SEC's actions and strengthen the position of the cryptocurrency sector.
With the ongoing conflict between the SEC and cryptocurrency companies, Messari's initiative could be a significant development in the fight over the future regulation of cryptocurrencies. The company intends to actively protect its interests and the interests of the industry, using all available means to achieve changes in the work of the SEC and improve conditions for the development of the cryptocurrency market in the United States.
