Legislation in the United States of America is a strange thing. Given they claim they’re the land of the free and home of the brave, it’s quite the police state where most of the populace fall into submission. Amazingly, the three-letter institutions are able to run the republic fairly efficiently! The SEC is one of this special bunch and recently they’ve worked with the CFTC to immerse ICO issuers into a regulatory void of chaos.
Earlier this week a group of leaders from ICO startups and traditional brokerage enterprises (like NASDAQ), went to Congress with a peculiar petition. They asked lawmakers for more regulation and clarity for the cryptocurrency space, a thing that sounds as odd as Trump dying his hair purple.
The SEC in its infinite wisdom (or lack of it) has been delaying or plainly negating applications for a Bitcoin ETF for years now, with several excuses. However within the last week they’ve left all their duties behind to prosecute a revolutionary of our times, Elon Musk, for the controversy caused over one of his recent tweets.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
This is intriguing behavior for an institution that even failed to prosecute the obvious Bitconnect scam, after it was allowed to continue its miserable existence for far longer than anyone ever anticipated. Elon Musk has reportedly denied having committed any crime by shunning a possible arrangement brought by the SEC; this stated he would have to part ways with the Tesla company. Musk has decided to fight the case in the court and judging by his last tweet he isn’t worried about it.
And remember … pic.twitter.com/UaDUv4OlZf
— Elon Musk (@elonmusk) September 28, 2018