Michael Arrington said all he thinks about “fucking SEC”

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Michael Arrington said all he thinks about “fucking SEC”

Co-founder of TechCrunch and partner at Arrington XRP Capital Michael Arrington, speaking at the ongoing San Francisco TechCrunch Disrupt conference, gave a very harsh assessment of the activities of the Commission on securities and exchange Commission (SEC). So sharp that you can play it literally will not allow decency.

The conference organizers asked Arrington, Fund Manager, promised “the next ten years of his life to devote to the cryptocurrency and the blockchain”, to share your point of view on the Commission on securities and stock exchanges of the USA. He told about a personal experience of interaction with the Agency:

Well, well, well… Fucking SEC. Last year I as a private citizen, not as a Fund invested in one company. And they sent me a summons, which was literally accused of the crime. […] I had to spend $30,000 on something that they took away.

Then Arrington said that he is a libertarian and does not like any authority. He also noticed that indignant at what is happening now, and added that the SEC “alone carries to hell, the industry in the United States”:

80-90% of our investment right now is investing in Asia, Europe and in Israel because it’s the country where it is clear what to expect from regulators. Here there is not the slightest certainty.

Arrington added that foreign entrepreneurs wishing to access stuff in the States, face an additional burden in the form of taxes and visa, as well as the opinion of the authorities on immigration:

Here they are in Singapore, Israel or Europe. SEC is time to think again.

In the end Arrington said that if the SEC officials took the stage, he would ask, whether they understand that killing a new generation of technology, and said that they think about it.

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