WASHINGTON—Securities and Exchange Commission Chair Gary Gensler said Tuesday he doesn’t see much long-term viability for cryptocurrencies, underscoring the importance of protecting investors in the market and bringing it under regulatory oversight.
Mr. Gensler likened the thousands of cryptocurrencies in existence to the so-called wildcat banking era that took hold in the U.S. from 1837 until 1863 in the absence of federal bank regulation. Before President Abraham Lincoln created the Office of the Comptroller of the Currency, banks issued their own currencies, which they sometimes refused to redeem for their purported value in gold or silver.
Exactly. How can cryptos be taken seriously when there are so many? And the crypto exchanges are facilitating all of the coins?
What bankers mean by 'limited viability'
Bitcoin not useless crypto shitcoin scams
Bitcoin is public money
He’s wrong. But he knows that. Btw - he’s not talking about Bitcoin .
That's not what he said.
This guy is a corrupt ex Goldman Sachs Guy. Massive Conflict of interests. he works for the banks and not for Americans.
GaryGensler is the biggest tool in the world, chats complete shit, listening to him,makes me feel dumber, there be a cleanup in aisle 3, if I saw him in a supermarket
US 4 Eyes explanation?!
Whats long ? 1-2-3-4-5 years ? 10 ? Next halving ?
XRPisOurFuture Thats why you buy gemstones from me, gold gets made illegal during great depressions.
Buy signal
JacoLubbe2 Of course Gensler will take this stance, he is under orders from the USAGov via the banking system. The banks need to remain in power for their profits, the government needs the banks for their wars, and the SECGov has to obey their masters for their pay checks. CRYPTO WILL WIN
XRPisOurFuture Every public statement this guy makes is bought and paid for by Goldman Sachs.
XRPisOurFuture The only negative thing about crypto is Gensler!!!
JacoLubbe2 Can't he just get back into his mother oh yeah not even she would want him 🤣
Meanwhile ...
Looks like crypto is going to be going underground in the US. But don't worry everyone. You can come to any other country in the world to us your crypto 🙂
xrp_ninja That's exactly what the Goldman Sachs & JP Morgan spokesman would say. What about the fraudulent, manipulative, corrupt, unethical, immoral Wall St Bankers Mr Gensler. Fix your Bank brethren or have they made your retirement very comfy, just asking for a friend.
Gensler is a dinosaur 🦖 in a modern world 🗺 … if cryptocurrencies fail it’ll be because of asinine big banks protection regs and destructive meddling by agencies like SEC.
So, what's the problem then GaryGensler.
No long term viability for crypto... 😳... 😂😂😂
thebearablebull Old hag
Kick this guy out of office man. He literally does nothing but let bad things happen to people. Smh
Wall Street Journal...need we say more?
thebearablebull Yes we knew this was coming He only said 5 or 6 thousand. There's over 12k+ cryptos. Everyone cool ur jets and don't panic sell.
thebearablebull 2018: Teaches a course at MIT on crypto. Speaks highly of it’s future and it’s inevitable global adoption. 2021: Joins the SEC. Says it has no long-term viability. Gaaaaarrrryyyy, we see you.
thebearablebull I really do think that GG is behaving like King Canute. The crypto tsunami rolls inexorably in. While behaving like Canute he seems to more closely resemble the Emperor with no clothes.
That’s why my monies on bust
thebearablebull Gary, Gary…. Why you buggin’?
thebearablebull He is a puppet of a banks! Why he is ina chair position who alegedly protecting investors? Who the fuck assigned him in a first place?
thebearablebull He is either lying, or just wrong. The other option is he will, through enforcement without clarity, scorch the crypto space with ridiculous regulations that would make his statement true.
He was sent to make that happens, but he failed before starting.
Quack Quack Gary!!!
thebearablebull I'm here to protect investors yall
thebearablebull Hey GaryGensler
thebearablebull Thank god he lives in America i feel sorry for you guys he does know there are other countries outside of America.Just stop arguing your points and give some clarity that’s it ,is it that hard of a question to answer ? You did lecture in MIT did you not. GaryGensler
thebearablebull Your government is forcing the people to move over crypto as your Dollar Printer is Mad, printing Trillions in Debt. Euro and dolar is fucked like Bolivar coin. Stay with the dollar they say, when there are alternatives they want you to avoid, stay out so they can get all.
He’s lost!!
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