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YouTube blogger Jan Balina opened a fundraiser for “fight against SEC”
Crypto-investor and YouTube blogger Jan Balina launched a gathering of donations on the Gofundme platform to finance the “fight” with the US Securities and Exchange Commission (SEC).
According to the report, Balina intends to oppose the abuse of the regulator on behalf of the entire crypto community. In particular, the latter he attributed the expanded definition of the term “securities”.
For three days, the blogger attracted $ 1192 from the target amount of $ 25,000.
At the end of September, SEC accused Balina of involvement in the unregistered ICO Sparkster. The commission also noted that the transactions on the Ethereum-wallet of the blogger were processed by nodes in the United States and, accordingly, were committed in the jurisdiction of the regulator.
The incident outraged the cryptocurrency community. Cinneamhain Ventures partner Adam Kokran called the SEC actions “unacceptable”.
Rather than Take on a Simple Case, The Sec Is Trying To Use to Set Prezedent Claiming that All of Crypto IS Under Sec’s Jurisdiction.
This is an absolutly unacpeptable overstep that will have to be pushed aggress.
– Adam Cochran (Adamscochran.ETH) (@AdamScochran) September 19, 2022
Balina himself noted that the “frivolous accusation” of the commission creates a bad precedent for the entire crypto industry.
Excited to Take This Fight Public.
This frivolous sec charge sets a bad precedent for the entire Crypto Industry.
IF Investing in A Private Sale with a Discount Is A Crime, The Entire Crypto VC Space IS in Trouble.
Turned Down Settlement So Have to Prove Themselves. 💯 Pic.Twitter.COM/LVAQNNSLGT
– Ian Balina (@diaryofamademan) September 19, 2022
Recall that in September CEO LBry Jeremy Kaufman announced the desire of the SEC to “cause damage or destroy the cryptocurrency industry in the United States”.
Prior to this, the commission was criticized by billionaire Mark Kyuban, and the head of Ripple Brad Garlinghaus reproached the department for using a forced approach instead of working on clear rules.
In July, a member of the House of Representatives of Tom Emmer accused SEC of “unethical” to the industry participants and called the actions of the regulator “absolutely unacceptable”.
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