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A majority of crypto investors support the firm hand of the US SEC

 


The crackdown on the crypto industry by the American Securities and Exchange Commission (SEC) is viewed positively by the majority of crypto investors, as a new survey now shows.


According to Bloomberg 's related MLIV Pulse Survey , nearly 60% of 564 respondents say they see the SEC's recent crackdown on crypto companies as a positive signal for future investment in the asset class.


According to this, for 65% of private investors an investment is “all the more likely” thanks to stronger criminal prosecutions against the crypto industry. This also applies to a majority of 56% of professional investors.


Similarly, 35% of retail investors and 44% of professional investors are “less likely” to invest given tighter regulation.


The American Securities and Exchange Commission has actually noticeably intensified its criminal prosecution in the crypto industry in recent months, with well-known cases such as the bankruptcies of the crypto companies Celsius Network and Three Arrows Capital or investigations into the NFT industry causing a stir.


Another high-profile lawsuit was the SEC's fine against American celebrity star Kim Kardashian, who was ordered to pay $1.26 million in damages for promoting a fraudulent crypto project.


The sentiment from retail investors seems in contrast to fears from US politicians and the crypto industry, both of which have criticized the SEC for taking a “regulation through law enforcement” approach .


However, Gurbir Grewal, the SEC's director of law enforcement, countered in September that his agency is not intimidated by criticism that it "hampers innovation." Irrespective of this, criminal prosecution should always be initiated if this is necessary.

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