TL;DR
Full Story
The SEC has “gone full Oprah” with these Wells notices (aka: “we plan to sue you” notices).
ICYMI — previously few weeks, the SEC has handed out Wells notices to:
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Uniswap (the world’s largest decentralized alternate).
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Consesnys (the creators of the world’s hottest scorching pockets, MetaMask).
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And simply yesterday, Robinhood ( — the app you used to purchase your $GME inventory with a number of years again).
It’s unclear what angle of assault the SEC will take with Robinhood — but it surely doesn’t actually matter at this level.
What issues is the bigger image that’s being painted right here…
As a result of the assault is now not targeted on anyone chain or firm — however as an alternative all the the important thing items of infrastructure that make blockchains work.
So for those who solely maintain Bitcoin, and really feel apathetic to this regulatory blitzkrieg as a result of it’s largely been targeted on Ethereum, Solana, and XRP to this point…
Now we have some unhealthy information.
If the peer-to-peer alternate of cryptocurrency by way of apps like MetaMask and Uniswap are outlawed within the US, that very same authorized precedent may be wielded to forestall you from taking custody of/spending your Bitcoin.
Level is — we’re now not speaking about an assault on sure crypto protocols, however on the business as complete (by way of its infrastructure).
Glass half full: even when the SEC had been to succeed right here, crypto would survive.
Glass half empty: no matter whether or not the SEC fails or not, these continued enforcement actions will push innovation out of the US lengthy earlier than any of those circumstances are dominated on.
Two emphatic thumbs down.