The post FUD Alert: Crypto.Com Potentially Next in Line for Regulatory Scrutiny, Following Bittrex U.S. appeared first on Coinpedia Fintech News
U.S. financial regulators, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have been increasingly focusing on the digital asset industry, raising concerns over regulatory clarity.
Singapore-based Crypto.com may be the latest digital asset exchange to face potential investigation and possibly wind up its U.S. operations. Is it true or a FUD?
James Deaton on Crypto.com
Attorney James Deaton, who serves as Amicus Curiae in the ongoing SEC vs Ripple lawsuit, attempted to clarify the situation regarding Crypto.com‘s alleged winding up. Deaton emphasized that the industry is mistaken if it believes Coinbase was the only exchange to receive a Wells Notice from the regulatory watchdogs. He hinted that other exchanges, including Crypto.com, could also face similar warnings.
Is This Information Verified?
Prominent Twitter account Whalechart, with over 290k followers, initially tweeted that crypto exchange #CryptoCom is under investigation by U.S. government agencies and may collapse or cease operations in the U.S. This tweet was subsequently shared by several accounts, including John Deaton, amplifying the potential misinformation. In response, kris marszalek
ceo at crypto.com
Kris Marszalek is an enthusiastic crypto entrepreneur and an active and true believer. Being a professional is the Chief Executive Officer at Crypto.com, built on a substantial establishment of security, privacy, and compliance and is the first cryptocurrency company across the world to have ISO/IEC, CCSS Level 3, PCI level 1 compliance, and autonomously assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks. He associates and encourages startups to enhance their business and meet their aims.He along with his team of Crypto.com collaborated with Pay and Shopify, offering millions of merchants to accept crypto. He believes one of their core values at Crypto.com is to Remain Humble which means they don’t seek the limelight, always try to take the high road, and do the right thing. He always tends to ignore the noise, and prove people wrong with actions, not words.He is extremely experienced with 18+ years of experience, he previously, served in numerous respected and well-established organizations including Starline Polska Sp. z o.o., an award-winning Consumer Electronics design studio and manufacturing business as Co-founder & Senior Vice President, Co-founder & CEO at YIYI Hong Kong Limited, and BEECRAZY, one of the leading e-commerce business in Hong Kong, and CEO at Ensogo which was listed on Australian Security Exchange.He acquires a deep knowledge of innumerable skillfulness including Business Development, Business Strategy, E-commerce, Online Advertising, Mobile application, Digital strategy, Email Marketing, and Strategic Partnerships. He experienced growth and stability with Crypto.com which was encouraged by the launch of Defi Swap and he never stopped promotional campaigns. The platform announced imperiously that it has received provisional approval for a virtual asset MVP License from the Dubai Virtual Asset Regulatory Authority. At present, it serves over 10 million customers with the world’s quickest growing crypto application.
EntrepreneurChief Executive Officer
CEO of Crypto.com, debunked the claims, stating that the information was false and urged people to report ‘Whalechart’ for spreading misinformation.
Also read: Ripple News: John Deaton Calls XRP a Cockroach, that Cannot Be Killed
U.S. Risks Losing Crypto Firms Due to Lack of Clarity
The regulatory overreach by the SEC and CFTC has been criticized by crypto industry leaders, who argue that the United States may lose several crypto firms due to the lack of regulatory clarity. As Bittrex U.S. prepares to wind up its operations, it remains to be seen how the regulatory landscape will evolve and what impact this will have on the broader crypto industry.
Also Read: Here’s Why Policymakers Have Been Reluctant To Regulate Cryptocurrency