At the time, Finzer criticized the SEC for taking an approach of “regulation by enforcement” and said that OpenSea was prepared to “stand up and fight.”With the SEC under new leadership by Chair Paul Atkins, Finzer is hopeful for a more balanced regulatory framework.“Good crypto regulation needs to balance, sort of, protecting consumers but also preserving the ability to innovate,” Finzer said.“It’s not just a one-size-fits-all problem, right? ”Under the Trump administration, the SEC has scaled back enforcement actions against several crypto firms, marking a policy shift in the US after years of enforcement actions led by former Chair Gary Gensler.
During the 2024 US election cycle, the crypto industry widely backed then-candidate Donald Trump, who promised to make the United States “the crypto capital of the planet.” Overall, crypto super political action committees, or PACs, donated over $119 million into the coffers of pro-crypto candidates, helping shape the elections.
Related: Crypto’s debanking problem persists despite new regulationsNFTs: Low trading volume, high innovationThe SEC crackdown on crypto firms had weighed on the markets downturn following FTX collapse in November 2022, driving investors away from crypto products such as nonfungible tokensSince then, NFT trading volume has plummeted from its 2021 peak, affecting protocols and platforms such as OpenSea.
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Author / Journalist: Cointelegraph by Christopher Tepedino
The story "Good actors were 'unfairly targeted' by SEC — OpenSea's CEO" has 501 words across 17 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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