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Earnity Asks: Who Are the Crypto Purists?

Retail investors are primarily reliant on markets that have been legally forbidden from participating in digital asset exchanges in the United States due to a lack of regulatory safeguards. The crypto community must accept the SEC’s regulatory framework to advance its sector into conventional financial institutions as the floodgates to these ordinary investors begin to open.

Crypto purists are opposed to the concept that ordinary investors, or those the SEC considers less financially competent, deserve more government protection. They claim that the policy creates an unequal power balance where only bigwigs may trade, leaving the little guy on the sidelines tapping away his fingers until big brother grants him permission to join. The fundamental point of cryptocurrency is to avoid such a situation. So why join forces with government agencies that have been perpetuating it for decades, such as the Securities and Exchange Commission (SEC)?

Before the United States could open the gates of digital asset trading to the world’s average students, teachers, and engineers, a clear regulatory framework to safeguard naive retail investors had to be built. Earnity co-founders Dan Schatt and Domenic Carosa explain that these agencies feel that they have the public’s best interests in mind when creating these rules.

As important as they are to markets, retail investors are presumed by the SEC to be less financially savvy than investment firms because, well, they are. The phrase “retail investor,” sometimes known as “Main Street investor,” denotes a non-professional investor—someone who may be extremely intelligent and accomplished, as well as financially informed, but who is not a finance sector expert. However, this can be fixed. Earnity, a platform founded by Dan Schatt and Domenic Carosa,  offers a solution that can live in both worlds: a multi-sig, non-custodial wallet for crypto purists and a simple, one-click access point for newcomers.

Crypto purists’ ideals are noble, and they have proved to encourage innovation that will serve as a foundation for financial enlightenment throughout the world for many years to come.