Messari Declares Independence from the SEC: A Bold Move in the Crypto Industry

Messari, a prominent US-based cryptocurrency market intelligence platform, recently made headlines by announcing its independence from the Securities and Exchange Commission (SEC). The CEO of Messari, Ryan Selkis, boldly stated, “I’ve declared independence from the SEC and its corrupt Chair Gary Gensler. In the months ahead, Messari will be operationalizing a war against this illegitimate and corrupt agency.”

In a draft letter released by Messari, the company expressed dissatisfaction with the SEC’s stringent stance towards the crypto industry. Messari highlighted its successful collaborations with regulators in other countries while criticizing the SEC for its inefficacy and lack of respect under Chair Gensler. The company pointed out the SEC’s failure to detect fraud at FTX, Celsius, and Genesis before their collapses. Messari argued that the SEC’s legal actions against crypto firms seemed more politically motivated rather than focused on rooting out fraudulent activities.

According to Messari’s letter, recent court rulings, such as Jarkesy and Loper-Bright, have undermined the SEC’s authority to regulate the crypto markets. The company suggested that the SEC’s actions could potentially jeopardize America’s leadership in the cryptocurrency sector. As a response, Messari announced that it would discontinue all interactions with the SEC until significant reforms were implemented. The company emphasized that it now views the SEC as a hostile competitor and unnecessary federal regulator.

In light of the escalating tensions between Messari and the SEC, the company revealed its intentions to challenge the SEC’s legitimacy in the emerging cryptocurrency industry through legal avenues and engagements with Congress in the upcoming months.

Overall, Messari’s decision to declare independence from the SEC represents a bold move in the crypto industry and underscores the growing friction between regulatory bodies and cryptocurrency firms. The outcome of this conflict and Messari’s future actions remain uncertain, signaling a potential shift in how cryptocurrency companies interact with regulatory authorities in the future.