The SEC has announced that a Crypto Squad that’s coming to police your crypto portfolio. They’re targeting crypto communities to make sure that you’re not getting ripped off, but in the meantime, they’re going to do a lot more than keep you safe. The Crypto Squad is getting hired as we speak. Here’s what we know so far.
Cryptocurrency, like Bitcoin, has become a major part of the investment world, and the government has stayed away. Now, the Biden Administration has decided to crack down on the free market gold that has become cryptocurrency. We don’t know what they have in the works yet, but the Crypto Squad is just the beginning of what’s to come this year.
There have been a lot of scams in the crypto world, exactly like there are in daily American life. But the crypto squad is going to allegedly chase scammers and shut them down.
One of the best parts of owning crypto until recently was that the government had no involvement in the sector. Now, that’s changing quickly as the SEC wants to the Crypto Squad to oversee the now trillion-dollar investment sector and treat it a lot like other investments.
If you own crypto or aspire to be an investor, watch closely as the year goes on. The Biden Administration’s crackdown is in its early days, and the Crypto Squad might just end up being the canary in the coal mine of government overreach into your crypto wallet.