One of the pitfalls of harsh regulation from the SEC is the formation of monopolies when it comes to exchanges.

The U.S. Securities and Exchange Commission recently included the regulation of emerging technologies and crypto assets as one of its 2023 priorities. The SEC intends to examine whether crypto companies meet appropriate standards of care when making recommendations, referrals or providing investment advice. If the SEC were to regulate custody services, it would likely require these entities to meet stringent security standards and to obtain licenses from the agency. This would increase the cost of providing custody services and could make it more difficult for smaller players to enter the market.

In this way politicians can get their corrupt, grubby paws on flipping the switch on if new exchanges can come into play or not. This is against the spirit of crypto and we need to fight tooth and nail against this capitalistic takeover of something that was essentially created to help the average man escape the financial pitfalls that have plagued us due to such corrupt lobbying and governmental failure in the first place.

They gonna tell you they're here to help regulate and protect consumers against fraudulent practices. They'll put a searing spotlight on the actions of SBF and Do Boy. And initially, it might appear like that's all it is, but like with whatever the government does, as soon as it gets a foothold into something, it'll try its best to extract as much as it can and create a system where the average man without a large lobbying amount or political influence, has very little to benefit from besides keeping him alive and taxpaying.