ChainCatcher news, at the first cryptocurrency industry roundtable held by the U.S. Securities and Exchange Commission (SEC), former SEC Cyber Enforcement Office Director John Reed Stark strongly opposed modifying existing securities regulations for digital assets. He stated that the Securities Act of 1933 and 1934 should not make concessions for cryptocurrencies, and digital assets should continue to be regarded as securities."People who buy cryptocurrencies are not collectors; they are investors. The SEC's duty is to protect investors," Stark said. He pointed out that crypto companies hire top law firms globally to try to delay enforcement actions, but they have lost in almost all cases. Stark also claimed that, compared to past technological revolutions like the iPhone, he has not seen any real innovation in digital assets.For a long time, Stark has been a staunch critic of the cryptocurrency industry, previously describing the partnership between the NBA team Dallas Mavericks and the crypto company Voyager as "collaborating with heroin manufacturers." He supports former SEC Chairman Gensler's "enforcement-based regulation" and insists that the crypto industry must comply with existing laws rather than asking the law to make way for it.

ChainCatcher news, according to The Block, former head of the Internet Enforcement Office of the U.S. Securities and Exchange Commission (SEC) John Reed Stark believes that the U.S. Department of Justice may have already submitted a criminal indictment related to Binance, viewing money laundering charges as a way for the DOJ to take action.Reed added, "To me, the complaints from the CFTC and SEC read more like criminal indictments, filled with allegations of fraud, deception, obstruction of justice, and money laundering. There is no concentrated focus on money laundering in the cases, which leaves room for the U.S. Department of Justice to outline and reserve prosecutorial space for criminal litigation related to Binance. The DOJ is working with the SEC, CFTC, and several informants/whistleblowers, and the next issue to address is the submission or unsealing of criminal charges related to Binance."It is reported that John Reed Stark served at the SEC for 19 years and is the former director of the SEC's Internet Enforcement Office, currently serving as a senior lecturer at Duke University School of Law.ChainCatcher reported this morning that Binance.US has hired four lawyers, including a former co-head of the SEC's enforcement division, for its defense. (Source link)