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SEC Wants To Be Funny With New Game Show, But Social Media Is Outraged

  • June 6, 2022
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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Last week, the SEC Office of Investor Education and Advocacy presented a campaign for “investor education” that includes a series of game-show scenarios.

The campaign is titled “Investomania” and includes a half-minute television spot, a 15-second instructional video on crypto assets, FOMO, interactive questions, margin calls, and guaranteed returns.

The purpose is: “to assist investors in making sound investment choices and avoiding fraud.”

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There are two contestants and a host in this game. First, the TV host instructs the competitors to choose a square on a game board that contains a variety of choices, such as internet rumors, celebrity endorsements, and guaranteed returns. Other alternatives are Market Timing, Crypto to the Moon, and Tulip Bulbs.

SEC Wants To ‘Educate’ In A ‘Fun Way’

According to the commission, the campaign “encourages investors to research investments and get information from trustworthy sources to understand the risks before investing.”

Following the decisions of the competitors, the video illustrates the consequences of a good or bad option in a humorous manner.

The regulator says, “investment may appear and feel like a game… our social service project employs the concept of a game show to inform investors in a fun manner.”

BTC total market cap at $597 billion on the daily chart | Source: TradingView.com

The regulatory organization advised investors to exercise caution while making investment decisions because venture capital “is not a match-making service.”

In a new accounting bulletin, the Commission noted that there are risks associated with crypto assets. It noted that the price and availability of crypto assets fluctuates frequently, distinguishing them from ordinary financial assets.

… But Social Media Is Pissed

Meanwhile, some social media users are outraged by the regulatory commission’s public service campaign, claiming that it mocks the same individuals it aims to educate.

“Extremely disheartening to see the SEC denigrate investors in meme stocks as though they acted carelessly… GaryGensler, how about a video about dark pools? Better yet, get trading into the open,” Former SEC Branch Chief Lisa Braganca, said.

“I don’t wonder! The SEC is shouting it in our faces bro. It is not going to protect retail investors, very sad,” said another user.

“This video series is absolutely awful. The SEC insults the same investors it is intended to educate and protect,” Dave Lauer, a Twitter user, commented.

“Sad when the @SECGov mocks the people they pledge to protect literally. I’d want to hear from @BarbaraRoper1 about their efforts to safeguard us against PFOF abuse,” another Twitter user added.

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Featured image from Financial Planning, chart from TradingView.com
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