Following the recent announcement by the United States Securities and Exchange Commission (SEC) on imposing new rules that would place under its supervision individuals trading cryptocurrencies, a famous Bitcoin (BTC) skeptic, Peter Schiff, has lashed out at the regulator.
As it happens, the agency has recently adopted a 247-page rule that requires “market participants who engage in certain dealer roles, in particular those who take on significant liquidity-providing roles in the markets, to register with the SEC,” according to the press release on February 6.
Indeed, under the newly introduced rules, individuals trading crypto assets, securities, or government securities, with assets exceeding $50 million, will have to “become members of a self-regulatory organization (SRO) and comply with federal securities laws and regulatory obligations.”
Schiff’s opposition to the rules
Commenting on the development, an economist and prominent critic of the flagship decentralized finance
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