DRW founder: The SEC's ambiguous enforcement rules are intentional, aimed at hindering the development of cryptocurrency

ChainCatcher news, Don Wilson, founder of DRW Venture Capital, stated in an interview with Coindesk that some legislators and regulators, such as Senator Elizabeth Warren, hold a hostile attitude towards cryptocurrencies because they "really believe in the power of the state," and that cryptocurrencies undermine this power.

Don Wilson said, "If their worldview is that more government control would make the world a better place, then they would feel that any efforts they make to slow down the development of cryptocurrencies would make the world a better place, even if it means doing so in a way that is somewhat unfair to market participants."

Chelsea Pizzola, legal counsel for DRW, also stated that the company's attempt to register its cryptocurrency brokerage firm, Cumberland Securities LLC, with FINRA (which is also responsible for regulating the U.S. markets) was rejected, and that the company is not the only one that has attempted to register and acquire a brokerage firm, having been trying to pursue a compliant path for years, sincerely attempting to engage with SEC trading and market staff.