Securities and Exchange Commission Chairman Gary Gensler on Tuesday warned that new regulations are needed on cryptocurrencies and digital assets in order to protect U.S. national security.
“These platforms may facilitate those seeking to sidestep a host of public policy goals,” Gensler said. “Sidestepping our traditional banking system…and sidestepping anti-money laundering and tax-compliance sanctions,” he added, noting that this may threaten U.S. national security. In a question-and-answer session following Gensler’s speech, the SEC chairman may have disappointed those in the industry who are seeking greater clarity as to whether the agency considers any particular digital asset a security for regulatory purposes.
The SEC abides by a set of conditions known as the Howey test, developed by the Supreme Court in 1946, which states that an instrument is considered a security when it’s “a contract, transaction or scheme whereby a person invests his money in a common enterprise, and is led to expect profits solely from the efforts of the promoter or a third party.”
StangelandShawn Sounds like he confused crypto and the fed.
I think he meant to say congress, not crypto...
C3W24
The US government is scared shitless that they will loose their almighty $ and ultimately the 1 position in the world. It's that simple. News flash for them, the harder they fight the harder they will fall- its way too late to react now! Good ridden! AJEnglish ajplus ASEAN
smdiehl He also points out that the Nakamoto Invention is real. Something smdiehl don't want you to know.
Bitfinexed He is correct.
And the regular market isn’t?
Everyone else has known this for years!!! US Authorities a bit challenged. Take them another 5yrs to present a plan.
Like the Hedges?
Cause the SEC has a great track record spotting frauds, scams and abuses…
This product of incest should not have a seat at a high table. There is no strength or conviction in this man's eyes. Gtfoh! Crypto is for the people and by the people!!
They don’t even clean up the stock market they just protect friends and take bribe money
Let’s solve darkpoolcorruption and nakedshorting first
Lmmfao
PopescuCo He should know
But the federal reserve with an endless checkbook does not threaten national security 🤔
Mainly because 'These platforms may facilitate those seeking to sidestep a host of public policy goals...' Big Brother / Big Sister does not approve
smeagle says what
It’s a F’ING pyramid scheme. Shit it down!!
GaryGensler focus on the US stock market like if it isn’t ‘rife with fraud, scams and abuses,’ by hedgefunds, market makers, and insider trading.
Threatens national security. Then I guess we definitely need to get rid of the US dollar.
Professor Gensler at MIT very different from SEC Gensler. With three daughters, he is easy to control.
in other words..”we’re going to make it worse!”
Alright. Come to save the crypto space then and ensure a fair market.
NigelWi04847178 He is making a lot of noise because he wants more funding from the government.
Yes, and including the worst of all: bitcoin whales.
and banks?
Bitfinexed Binance, FTX, Tether criminal cartel - ScamBinance BNB BinanceSmartChain FBI cz_binance Binance BTC BSC CZ BinanceHell Tether SEC JusticeDepartment FTX BUSD USDC (We can provide a lot of information for the investigation.)
Just let all the idiots get swindled and all the smart people know who the swindlers are. It will work itself out.
If you invest in crypto, what are you investing in? Risk of losing it all? Remember credit default swamps.
The crypto community doesn’t disagree but we demand commonsensical, thoughtful and intelligent regulation that will not stifle innovation but allow it to flourish.
Sounds like our current financial system 🤷♂️
Citing National Security just seems like a way to do anything lol
based national security threateners. i see mr. Gensler is going for gold in mental Gymnastics .
And the dollar or euro doesn't? 😂
Sounds like he’s talking about the sec
SEC_Enforcement so how is it different than the exchanges? Price manipulation, insider trading, naked shares………. Maybe you should clean up the exchanges and make sure they’re fair die everyone before going after crypto.
Hmm, so is the U.S. banking system… how much money have the banks been fined over the last decade? Also, try following the cash from an atm in Minneapolis….
About time this lunacy is addressed
GOLDUCKTOKEN
These people are so corrupt. They’re bought and paid for by the banks.
Here you are a witness of how the mask of Mr. Gensler falls. He moves on the guiding beam of Clayton ! A barefaced lie .....the US economy is currently only 2% cryptonised.
banks late? Mr.Gensler? who pay you?
Lmao the government supports casinos and gambling but says crypto is an issue? Hypocrites can go fuck themselves. Good luck regulating it
I think he’s talking about his friend Clayton and Hinman
The same can be said for the dollar.
Woah, GaryGensler is evil after all! 🙁
USA GOV digging their own hole. Countries like Switzerland will become the global hubs for crypto. Smart countries will adopt crypto to secure taxes and fight fraud. USA will loose its $ dominance (QE), PM dominance (Comex fraud) and potential crypto dominance. Poor Americans.
Looks like the russian and chinese dont give a fuvk what USA say🤔
This asset class is rife with fraud, scams and abuses in CERTAIN APPLICATIONS,” he said. Headline way scarier than content.
And what are you doing about that? Nothing!
He said it for years
Why he look like an aggressive penis though
NinjaEconomics Reminds me to check on my $10 Bitcoin investment:
Thanks we are buying more
I think she meant the US Dollar. 🤣
Crackdown the private money in a group of barbarians.
🐕 DOGE LIVE CHART TRADE!
How about they go after the hedge funds fucking over retail investors first. They're a couple decades behind on that.
Threatens redundant, overpaid, regulatory, government leech-on-society jobs you mean?
Bitfinexed i.e., current and prospective crypto investors can safely assume nothing whatsoever will be done from a government perspective.
The only threat to national security is this guy. Taking money from banks to steal from industrious Americans is corruption.
Weird thing is that the community kinda embraces the bad stuff. Nobody even bats an eye at rugs. They’re just part of the system.
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Bitfinexed Scam like SAFEMOON ?
no
Anything marketwatch says, I bet opposites.
Auto companies got $millions in tax breaks! Adrienne Santos confirmed SEC_Enforcement destroyed docs. Auto companies changed dealer names & voided 24-36 month parts warranties to cover up TaxEvasion IRS_CI Destroyed records 2020-007235 TIGTA TRN-2009-0433 & TRN-2010-0201
He’s talking about Sergey in this quote
GaryGensler SEC_Enforcement for the last 2 decades, the stock market has also been filled with corrupt actors with a history of fraudulent activities such as citsecurities so why are they still allowed to be in business? AMCSqueeze AMCAPES AMCNOTLEAVING darkpoolcorruption
Bullish lol
I actually took his class .... Guess the subject ... Crypto and blockchain ... He was loving it 😂
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