Actor and author Ben Mckenzie, known for his prominent role in ‘The OC,‘ states that cryptocurrencies ought to be classified as securities. He also cautions against the rising occurrence of wash trading in the industry.
Having adopted the stance of a crypto critic, Mckenzie’s comments follow the launch of his book ‘Easy Money.’ The book argues that the lack of regulation in crypto holds the potential for significant losses among individuals.
Ben McKenzie: Cryptocurrencies Should Be A Security
During an interview with NBC News on Aug. 16, Mckenzie strongly supports categorizing cryptocurrencies as securities. He believes that enforcing this classification will make the industry much safer for investors, protecting them against fraud.
“I don’t think it would have gotten this bad,” he asserts.
When a regulatory authority deems an asset as a security, financial institutions must adhere to more stringent investor protection regulations.
The United States Securities and Exchange Commission (SEC) believes that many cryptocurrencies constitute securities. It bases this belief on the
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Author: Ciaran Lyons
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