CMS Bill retweetledi
Founders take risks all the time. Will customers buy my product? Will I be able to scale? Those business risks are significant, but founders and their investors understand them and are wired to take them. Projects that succeed push business, technology, and the economy forward. That's good for society as a whole.
But this SEC forces *crypto* founders to take another kind of risk: regulatory risk. The SEC's overbroad reading of its authority coupled with onerous enforcement actions leave founders worried about risk that is massive, unpredictable, incalculable, and potentially existential. This makes the US less likely to be the wellspring of impactful technology.
Congress should draw lines for the SEC. But that won't happen immediately. @fund_defi's declaratory judgment action is an important step to bring clarity to US founders, and they deserve our thanks.
DeFi Education Fund@fund_defi
🚨Today, DEF and @BebaCollection sued the SEC🚨 defieducationfund.org/_files/ugd/84b… The crypto industry is facing an existential threat from an overzealous regulator who is abusing its power by targeting our industry through unending aggressive enforcement actions. It’s time for the court to put an end to it.🧵
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