Agencies contradict each other over crypto

The front page of a recent Suburban Business section featured two items side by side. The first featured the presentation by cybersecurity expert Joe Kefer of the Secret Service. His comments regarding cryptocurrency included that very few legitimate uses of it have been developed. He believes nearly all of its daily users are criminals and victims.

“I’m blatantly telling you to tell everyone you know not to use cryptocurrency at all,” he said. “It’s all fraud.”

Immediately adjacent to that article, in A Quick Look Beyond the Suburbs, the following was presented: “The U.S. Securities and Exchange Commission is seeking to pause its high-profile lawsuit against the cryptocurrency exchange Binance as the regulator tries to present itself as more crypto-friendly. Binance and the SEC filed a joint motion Monday asking for a 60-day stay in a lawsuit the regulator filed with significant fanfare two years ago under its previous chairman, Gary Gensler. The filing is the first ‘tangible action in existing enforcement actions that recognizes a change in direction of the agency,’ said Carol Goforth, a distinguished professor at the University of Arkansas School of Law.”

Two government agencies, wildly divergent views - any chance they can communicate with each other?

Kent D. Nicholson

Batavia