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John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has warned about a new regulatory “siege” against crypto platforms. Reed Stark believes that “crypto trading platforms are high-risk, perilous, and inherently unsafe” and recommends investors exit all crypto exchanges.
Former SEC Enforcement Chief Tells Investors to Get Out of Crypto
John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has recently issued his opinions regarding the legal actions of the institution against Coinbase and Binance, two cryptocurrency exchanges.
Stark, who has more than 19 years of collaboration with the SEC, stated this might be the start of a cryptocurrency regulatory “siege” that could reach other companies in the industry. Stark explained:
Get out of crypto platforms now, I can’t say it any plainer. I believe that we now know for certain that crypto trading platforms are under a U.S. regulatory/law enforcement siege which has only just begun.
Furthermore, Stark clarified that, in his view, crypto trading platforms are “high-risk, perilous, and inherently unsafe,” declaring that the SEC is on the right track with its enforcement actions.
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