US regulators and government officials have consistently expressed hostility against crypto assets, leading to numerous cases in court. Attorney Jeremy Hogan, a partner at Hogan & Hogan, has recently criticized the Securities and Exchange Commission (SEC) for making it difficult for crypto companies to properly register. Hogan argued that registering illicit drugs at the Sheriff’s office was easier than registering crypto companies with the SEC.

Hogan cited a lack of clear rules from the SEC on how to handle the emerging asset class. He further bashed SEC Chair Gary Gensler’s decision to invite crypto companies, deeming it a “bait and switch” trap. This aggressive approach to crypto goes after the collapse of the FTX exchange.

The US Treasury has since comment edthat crypto markets be closely monitored to prevent money laundering, and a possible threat to US national security. These comments come after the charges the SEC filed against Kraken and the Wells Notice to Coinbase. The SEC’s claims that Coinbase violated securities law, in addition to the US CFTC’s charges against Binance and its CEO, bolsters the point that regulators see crypto as hostile.

Altogether, the US government’s attitude towards crypto assets has proven to be one of hostility and resistance, with the SEC, CFTC and US Treasury all joining forces to bring the emerging asset class to heel. Crypto companies, like Kraken and Coinbase, have had to face the brunt of their aggression, leading to hefty fines and punishments that threaten the industry’s wider adoption.



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