Ex-SEC Specialist Recommends Withdrawing Funds from crypto Platforms

Crypto exchanges will have to fight with the department for a long time. Therefore, users should refuse to work with them. This was stated by a lawyer who used to work at the SEC – John Reed Stark.

How does he explain such recommendations

The expert observed the latest developments in the cryptocurrency sphere. He is especially closely watching Binance and Coinbase, against which lawsuits have been filed by the SEC.

In his opinion, the SEC acts flawlessly when it is required to comply with laws related to cryptocurrencies. Regardless of what slogans "carnival touts" offer, it is undeniable that the sites are highly risky and dangerous. At the moment, the exchanges are under siege by US agencies, which have just begun.

The specialist explained why it is worth withdrawing assets from the crypto exchange. In his opinion, an important factor is the lack of licenses for sites registered with the SEC. At the same time, Stark noted that this is a mistake of the department.

The lawyer also stressed that the exchanges do not comply with the standards for the flow of orders, they have difficulties with keeping records. At the same time, there are no norms and rules for cybersecurity in the US industry itself, and therefore exchanges have no motivation to comply with anything.

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