“The SEC’s method is incorrect, and I believe that they’re currently spending for it,” mentioned Dr. Zvi Gabbay, a partner and the head of the Capital Markets Department at the Barnea & & Co. law practice, in a crucial commentary on the United States Securities and Exchange Commission’s (SEC) existing method in handling the cryptocurrency market.
This belief, revealed in a two-part interview with Finance Magnates, is available in the wake of the SEC’s aggressive legal actions versus crucial gamers like Coinbase, Kraken, and Binance, in spite of their significant loss versus Ripple.
Gabbay’s remarks show the growing stress in between the regulative body and the crypto market. He included, “What’s fantastic is that although they’re spending for it, they go on and submit a grievance versus Kraken, which generally reveals that they’re not hearing the message.”
This unfolding situation highlights a substantial fight, with the SEC on one side and, relatively, the whole cryptocurrency sector on the other, casting doubts about the future positioning in between regulative efforts and market interests.
“A Terrible Loss”
Dr. Gabbay began his profession as a district attorney for the Tel Aviv District Attorney’s workplace. Later on, he got the equivalent of a PhD in law from Columbia University.