People have wondered what could have prompted Forbes to take down its journalist’s opinion piece about the SEC’s crypto regulatory tactics.
Shortly after Forbes journalist Roslyn Layton slammed the Securities and Exchange Commission’s cryptocurrency regulation style in an opinion piece on Forbes, the article has since been taken down.
The unexpected decision to take down the article, which received massive applause from crypto investors, has raised eyebrows about what could have been the reason behind the move.
Reaction to the Development
As expected, various crypto enthusiasts took to Twitter to comment on the development. Charles
Gasparino FOX Business Network Senior Correspondent asks, “Is That True?”
Is that true?
— Charles Gasparino (@CGasparino) August 29, 2022
Some people asserted that the article was deleted by Forbes on purpose, as the media outlet wants to avoid getting in the bad books of the SEC.
Dogo_crypto says: “Dr. Rosalyn wrote a great piece on Gary Gensler’s overreach titled: Gary Gensler: Resign. The next day Forbes took down the piece. Understandably it’s a contentious title; however, inside the article were all facts.”
Dr. Rosalyn wrote a great piece on Gary Gensler’s overreach titled: Gary Gensler:Resign. The next day Forbes took down the piece. Understandably its a contentious title, however inside the article were all facts
— dogo_crypto (@dogo_crypto) August 29, 2022
On the other hand, some noted that Layton took down the post herself without providing any proof backing the claim. Eleanor Terrett, a FOX Business Journalist, says Layton was solely responsible for the decision to delete the post.
“I spoke with @RoslynLayton about (the development) today. She told me Forbes did not pull the article; rather, she and her editor decided to re-write the piece themselves,” Terrett said.
— Eleanor Terrett (@EleanorTerrett) August 29, 2022
Layton Slams SEC
As reported by TheCryptoBasic, Layton joined the list of journalists who are against the SEC’s regulatory tactic on the cryptocurrency industry.
She stated that the Securities and Exchange Commission prefers to regulate the crypto sector via “regulation by enforcement” instead of “regulation by rules.”
Layton also took out time to comment on SEC Chair Gary Gensler’s WSJ Op-Ed article titled “The SEC Treats Crypto Like the Rest of the Capital Markets.”
According to Layton, Gensler’s WSJ Op-Ed article is misleading, as the SEC has slammed more lawsuits against crypto firms than any other financial market since 2017, with 90% of these cases settled out of court.
While the SEC has been seeking total control of the cryptocurrency industry, the commission has failed to provide more precise regulatory guidelines for the emerging market on its website.
“Indeed, some 90 percent of SEC cases are settled rather than concluded in court. Such a high degree of enforcement and settlement suggests that SEC rules are not clear and possibly non-existent,” she added.