Despite its pervasiveness and bluster, the laughable Big Crypto tagline calling for regulatory clarity is nothing more than a desperate deflection and noxious red herring. Intended to sidetrack and dissemble the plain truth — that the crypto-emperor has no clothes — the regulatory clarity and SEC hit-pieces are pure subterfuge, and an impulsive and frantic attempt to appeal and co-opt fundamental notions of fairness, liberty and freedom (which most people cherish and hold dear). Here’s why:
First off, securities regulation is not meant to be precise but is instead intentionally drafted to be broad and all-encompassing; clarity is not just uncommon, it is deliberately avoided.
Second, though securities regulation is primarily a principles-based legal framework, there already exists extraordinary regulatory transparency and lucidity regarding crypto.
Finally, although the crypto industry constantly grouses for regulatory clarity, whenever any specific regulatory crypto-related rules are promulgated or proposed, the crypto industry cries foul and almost instantly files a flashy legal challenge to its enactment.
Source: BIG CRYPTO’S BOGUS DEMANDS FOR “REGULATORY CLARITY” – The FinReg Blog
