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Regulatory mayhem erupts as the SEC sends conflicting signals on crypto, fueling uncertainty over the future of digital asset oversight.

SEC Commissioner Slams Agency’s Mixed Signals on Crypto Assets, Warns of Regulatory Chaos
U.S. Securities and Exchange Commission (SEC) Commissioner Caroline A. Crenshaw issued a sharply worded statement on May 31 criticizing what she sees as a deepening inconsistency in the agency’s treatment of crypto assets. Speaking amid the SEC Crypto Task Force’s ongoing push to offer regulatory clarity, Crenshaw argued that the Commission’s actions have instead created more confusion, particularly regarding whether digital tokens like ethereum ( ETH) and solana ( SOL) are securities.
Crenshaw cited a series of SEC staff statements in early 2025—addressing meme coins, proof-of-work mining, and stablecoins—that declared a wide range of digital assets are not securities. These statements were issued by the SEC’s Division of Corporation Finance between February and April, and Crenshaw responded to each with public dissents emphasizing the risks of minimizing regulatory oversight. Despite these earlier assertions, she noted, the Commission did not object to new ETFs filed under the Investment Company Act of 1940 that rely on ETH and SOL being treated as securities. The commissioner stated:
In the name of this clarity, we’ve seen staff statement after staff statement, pronouncing that all sorts of crypto assets are not securities. And yet, now we see no objection to the effectiveness of new exchange-traded funds that assert certain crypto assets— ETH and SOL—actually are securities.
“Does this Commission, in fact, believe that ETH and SOL are securities?” She added. Crenshaw questioned how the SEC could allow both ETPs and ETFs to be registered under different assumptions about the same underlying assets. She opined:
How is it that these crypto assets are supposedly not securities when it comes to registration requirements, but conveniently are securities when a registrant sees an opportunity to sell a new product?
She added that rather than promoting consistent regulation, the agency appears to be encouraging a “maximally aggressive approach to entering our markets,” often at odds with its own legal standards. Concluding her remarks, Crenshaw warned: “So far, the Commission and The Crypto Task Force’s journey to clarity has only taken us further and further adrift in increasingly muddy waters of our own making.” Proponents of digital assets, such as Commissioner Hester M. Peirce, have defended the broader crypto ecosystem, asserting that “most currently existing crypto assets in the market” are not securities.
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Elon Musk Warns US Headed for Bankruptcy, Slams Congress Over ‘Disgusting Abomination’ Bill
Elon Musk erupts in fury, declaring he can’t take it anymore as he warns unchecked government spending is driving America toward catastrophic financial collapse and irreversible damage.

Elon Musk Warns US on Brink of Bankruptcy—Says He Can’t Take It Anymore
Elon Musk has unleashed a scathing critique of the newly passed Congressional spending bill, calling it a “disgusting abomination” and taking to his social media platform X to voice his frustration. In a post that quickly gained traction, Musk declared:
I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.
“Shame on those who voted for it: you know you did wrong. You know it,” Musk added. His remarks were aimed at the “One Big Beautiful Bill Act,” a sweeping tax and spending package championed by President Donald Trump that recently passed the House and is now awaiting Senate action.
The Committee for a Responsible Federal Budget estimates the bill would increase primary deficits by $2.5 trillion over the next decade, or $3.1 trillion with interest. If temporary provisions like the expanded child tax credit and tax exemptions on tips and overtime become permanent, the total debt increase could reach $5.1 trillion, including interest.
Musk added in a follow-up post: “It will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden American citizens with crushingly unsustainable debt.” In addition, the billionaire wrote:
Congress is making America bankrupt.
Previously leading the Department of Government Efficiency (DOGE), Musk has repeatedly voiced his concerns about fiscal mismanagement. He recently announced the end of his role as a special government employee, thanking President Trump and noting that DOGE’s mission would continue within government operations. His comments have fueled controversy in the broader conversation on federal spending. White House Press Secretary Karoline Leavitt defended the legislation, calling it essential for preserving tax relief and supporting national priorities.
Many people shared Musk’s concerns. Senator Rand Paul, for example, wrote on X:
I agree with Elon. We have both seen the massive waste in government spending and we know another $5 trillion in debt is a huge mistake. We can and must do better.
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