Messari CEO: No More SEC Cooperation Until SEC Gets its Act Together

Messari CEO: No More SEC Cooperation Until SEC Gets its Act Together

Messari CEO Ryan Selkis has announced that his crypto data analytics firm will no longer cooperate with the United States Securities and Exchange Commission (SEC) until the agency improves its performance. Selkis criticized the SEC for failing to detect fraud prior to the collapses of FTX, Celsius, and Genesis, and for taking enforcement actions against crypto firms that seemed politically motivated rather than aimed at detecting fraud. "The SEC has shown itself to be deeply incompetent and discourteous," Selkis said. "We will cut off all contact with the SEC until the agency reforms." Selkis's comments come as the SEC is facing increasing scrutiny for its handling of the crypto industry. The agency has been accused of being too slow to regulate the industry, and of taking enforcement actions that are overly broad and punitive. The SEC has defended its record, saying that it is committed to protecting investors and ensuring that the crypto industry is fair and orderly. However, the agency has also acknowledged that it needs to do more to keep pace with the rapidly evolving crypto landscape. It remains to be seen whether the SEC will be able to address Selkis's concerns. However, his comments are a sign of the growing frustration with the agency among some in the crypto industry.