The Declared Independence of Messari from the SEC

In a surprising turn of events, the leading US-based crypto market intelligence platform, Messari, has made a bold declaration of independence from the Securities and Exchange Commission (SEC). The CEO of Messari, Ryan Selkis, announced on July 7th that the platform will be taking a strong stance against the regulator, citing reasons for their decision.

Messari has voiced their discontent with the SEC’s stringent approach to the emerging crypto industry. They criticized the SEC for being ineffective and disrespectful under the leadership of Chair Gary Gensler. The platform highlighted their successful engagements with regulators in other countries, contrasting it with their struggles with the SEC. Messari accused the SEC of failing to uncover frauds at FTX, Celsius, and Genesis before their collapses, indicating a lack of focus on fraud detection.

The draft letter published by Messari pointed out that recent court rulings have undermined the SEC’s claim to regulate crypto markets. The platform argued that the regulator’s litigation against crypto firms has become politically motivated rather than driven by the need to tackle fraud. Furthermore, Messari expressed concerns that the SEC’s actions could threaten America’s leadership in the crypto sector. As a result, Messari has decided to cease all engagements with the SEC until reforms are implemented.

Messari has announced its intentions to challenge the SEC’s legitimacy over the emerging industry through legal means. They plan to take their battle to the courts and Congress in the coming months, signaling a determined effort to push back against the SEC’s influence. By treating the agency as a hostile adversary, competitor, and superfluous federal regulator, Messari is setting the stage for a potential showdown with the SEC.

Messari’s decision to declare independence from the SEC is a bold and unprecedented move that reflects the growing tension between regulators and the crypto industry. As the battle for control over the future of digital assets continues to unfold, Messari’s actions may have far-reaching implications for the industry as a whole. Only time will tell how this conflict will ultimately play out and what it means for the future of crypto regulation.