On September 29, the United States Securities and Exchange Commission (SEC) gave a “no-action” letter to cryptocurrency company DoubleZero. The letter specifically came from the Division of Corporate Finance.
Prior to this, the SEC had an approach of “come in and talk to us” in regard to new cryptocurrency companies. This approach virtually died with the SEC giving a blank check to DoubleZero.
“Organizing disparate people to work together to build physical infrastructure is an interesting use for the technology. Markets, not financial regulators, should determine the success of such projects,” SEC commissioner Hester Peirce wrote in a statement supporting the decision.
Axios
Evidently, a laissez-faire ideology has taken hold over the SEC. This year has only seen nine enforcement actions from the agency. Of course, Trump’s personal profiteering from cryptocurrency has intensified this pro-crypto policy.
