Firms like Coinbase and Ripple are playing a game of poker with the SEC, testing the limits of their lobbying power in the hope they can get it to back down.
Crypto companies have issued bold threats to leave the U.S., highlighting concern that the Securities and Exchange Commission's industry crackdown is becoming too harsh.
Major players are hoping that the SEC and Washington takes, what crypto watchers see as bluffs, seriously and soften the hard line that regulators have taken on the industry.Cryptocurrency companies are playing a game of poker with the Securities and Exchange Commission, making bold threats to leave the U.S. as the regulator steps up pressure on the industry to toe the line.
Coinbase CEO Brian Armstrong said last week that the SEC was on a "lone crusade" with its tough actions against certain crypto companies. He added that Chair Gary Gensler had taken an "anti-crypto view," despite earlier being a supporter of the industry during his time as an economics professor at the MIT Sloan School of Management.
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