thats not true. if they dont find any wrong doings, does not mean they are approved to run their business. they just woudnt have enough evidence to build a case against them. they have a limited area they work in, hence they cannot approve something

its not like its the only agency looking at this anyway

"Is PayCoin on the verge of being APPROVED by the SEC?" - MrCoins
he worded it like this


ps: did SEC approve berney madoffs business when he was first investigated?