SEC veteran warns U.S. crypto investors

According to John Reed Stark, l’repressive action of the SEC against thecrypto industry does nothing but get started. The former official of U.S. regulatory agency also believes that DOJ will sue Binance for bleaching.

Get out of crypto platforms now”, argued John Reed Stark.

Cybersecurity specialist, who worked from 1991 to 2009 for Security of Exchange Commission in the United States, warned US crypto investors last week via its Twitter account.

“I think we now know with certainty that the platforms from crypto-trading are under the headquarters of regulation and law enforcement in the United States which has only just begun “he added.

L’warning from the former SEC official comes at a time when the SEC has recently launched proceedings against the Binance and Coinbase for violating the Securities Act. In his view, SEC registration of financial companies in the USA is an effective way of protecting investors.

Known for his anti-crypto stance, John Reed Stark also declared on Sunday that the U.S. Department of Justice would undoubtedly pursue Binance.

In my humble opinion, there is a litany of indicators that the U.S. DOJ will file, or has already filed under seal, a criminal indictment in connection with Binance.” he wrote.

Also accused by the SEC of commingling customer funds, Binance refutes a number of charges and assures that its users’ assets have always been safe.

“Neither the CFTC case nor the SEC case focuses intensely on the money laundering. In my humble opinion, this is the prosecution space that has been carved out and reserved for criminal prosecution of the DOJ concerning Binance,” concluded John Reed Stark.

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