Ummm, the SEC is to eliminate competition to the BIGS.
They have never protected anyone.
GATA gave them several smoking guns on gold manipulations, and they have done nothing.
The SEC vs Ripple… the SEC got their ass handed to them, they cost the people they supposedly protect billions, they are overstepping their authority.
So, what do we need the SEC for?
I try to see the bright side of situations and one thing SEC has done well is driving cryptocurrency projects out of USA and forcing many projects to decentralize themselves more to avoid getting REKT by a lawsuit. SEC is like an evil monster that has pushed us towards greater resilience.
Indeed, that is a good view to hold.
However, i do not want to support this evil monster with my taxes any more.