SEC

Wayne

Read the SEC document on this. Robinhood had a margin call made against them.

dvsbyknight

All spot on except it's FinCEN rather than the SEC that enforces AML/KYC regulations. That's not to say the SEC isn't also constantly hovering. When you're a hammer, everything looks like a nail...

imdabes

Exactly. The SEC has been behaving like Oprah out here “you get a lawsuit, you get a lawsuit” with crypto exchanges. Its evident to me from having researched the topic that the regulatory demands in regard to US based crypto exchanges are unreasonable. I believe the microscopic magnifying glass with which biased aml/fraud algorithms screen all crypto transactions is more likely than not the reason Coinbase has to freeze accounts so often. Lots of people used coinjoin which is not illegal but will throw a flag. Buying P2P could also throw a flag, not bc the account owner did anything but maybe they bought crypto from someone over seas that doesn’t have to abide by the strict regulations imposed by the US. Others used non-kyc exchanges that offered more features than CB, which is also not illegal but that too will get a flag. It’s honestly absurd and extends well beyond the scope of how aml regulations have traditionally been enforced. It’s not Coinbase’s fault… they have to do it lest the gary gensler gang come at them for another shake down.

Psykotixx

It's not though. Have you used the XRPL? It's fantastic. Price action has been bad, sure. But it's held the top 10 despite everything being thrown at it. It's actually insane that the SEC didn't put it down more. XRP is resilient af. And a lot of development activity has clearly been happening. Instituional interest has clearly been renewed over the past few months. Once that case wraps up completely I think this sub is going to look like a salt mine.

pr0b0ner

Coinbase is FAR AND AWAY the most trustworthy on/off ramp and trading platform for crypto. They are the only one that's publicly traded and actually regulated by the SEC. How people throw personal info and money onto these fly by night exchanges is beyond me.

ccModBot

Thank you for submitting to /r/CryptoCurrency, Your post has been removed because there are already 2 posts about SEC in the top 50. You may post it again when the topic is no longer at the limit. ---[**Click here for a link to view the current limits**](https://www.reddit.com/r/CryptoCurrency/wiki/topic_limits)--- *I am a bot, and this action was performed automatically. Please contact the [moderators of this subreddit](https://www.reddit.com/message/compose?to=%2Fr%2Fcryptocurrency) if you have any questions or concerns.*

suninabox

What closely connected friend/company has benefitted from SEC decisions to open a case?

Inside-Effective-353

Everyone here (maybe just bots) was cheering that crap that Mark Cuban spouted about SEC protecting us.

coinfeeds-bot

tldr; A Wall Street Journal report alleges Binance ignored internal investigations of market manipulation to maintain relationships with key clients. One case in 2023 involved DWF Labs, accused of creating artificial token volume. Despite recommendations to remove DWF, Binance did not act. The report also mentions Binance's decision to off-board the Tron Foundation following SEC charges of market manipulation, yet continued to support TrueUSD, linked to Tron's Justin Sun. The article suggests a culture at Binance of tolerating illicit activities for its benefit. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MachaMacMorrigan

You do know that there is absolutely no encryption on the actual Bitcoin blockchain right? You are aware that the only use of a cryptographic technique is ECSDA for public/private key generation, right? But you don't have to listen to me . . . Here's what Forbes said "Bitcoin Is Not Crypto, The SEC Confirms" https://www.forbes.com/sites/martinrivers/2023/07/31/bitcoin-is-not-crypto-the-sec-confirms/ You might also want to look back six months on ***this sub*** https://www.reddit.com/r/Bitcoin/s/iyYIFvtqd6 I suggest that common usage of the term 'crypto' is a reference to all of the ~~shit~~altcoins out there, which are all essentially parts of the *fiat* system. To lump Bitcoin under fiat (as just another 'crypto') is to make a category error.

Oheson

I don't like ETH and I will never use ETH again except via Base. That said, I continue to hold it because "Number Go Up". I think the ETH ETF will be approved on May 26th also. It would make no sense for it not to be approved as it would be "Arbitrary and capricious" as it was when Grayscale won their lawsuit against the SEC in the BTC ETF case. Also, companies have quietly removed the staking language from the ETH ETFs no doubt on the recommendation from the SEC. Probably wise to hold on to ETH at least for this cycle.

ccModBot

Thank you for submitting to /r/CryptoCurrency, Your post has been removed because there are already 2 posts about SEC in the top 50. You may post it again when the topic is no longer at the limit. ---[**Click here for a link to view the current limits**](https://www.reddit.com/r/CryptoCurrency/wiki/topic_limits)--- *I am a bot, and this action was performed automatically. Please contact the [moderators of this subreddit](https://www.reddit.com/message/compose?to=%2Fr%2Fcryptocurrency) if you have any questions or concerns.*

TopKekistan76

You’re being myopic. it’s not the SEC as an agency that benefits but the closely connected friends/companies that benefit from the SEC decisions to open a case that impacts the market.

suninabox

>He's right though, Gary comes off as a paid actor who forgets lines. SEC comes off as anti-crypto with no concrete reason why except for debunked speculations. Come election day I'm protecting my investment. How is he right? [The SEC has prosecuted dozens of cases of crypto fraud](https://www.sec.gov/spotlight/cybersecurity-enforcement-actions), including huge frauds like Celsius. If your worldview has to rely on outright falsehoods, probably a sign its not very well thought our or accurate.

suninabox

SEC doesn't keep fines, they go to the treasury.

suninabox

That's fucking stupid, SEC doesn't keep money it wins in enforcement, it goes to the treasury

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

biba8163

>:Hasn't protected a single investor...no care for retail Mark Cuban became a billionaire selling a hype vaporware media company in the DOT.com bubble. He lost $870K in DeFi rugpull scam Titan. Crypto is mostly about luring retail investors with bullshit vaporware hype that Cuban became rich through and rupull scams that Cuban fell for. Of course Cuban is clueless and blind to the fact that the SEC is trying to protect investors. In 2021, the SEC blocked the now bankrkupt company Celsius from offering their crypto earn program to US clients: https://celsiusnetwork.medium.com/important-celsius-update-to-our-us-clients-6df471420cc7 In 2021, the SEC collected $100 Million from the now bankrupt BlockFi and prevented them from offering their earn program to US Customers: https://www.theblock.co/linked/134165/with-100-million-settlement-confirmed-blockfi-aims-to-register-yield-with-sec In 2021, the SEC blocked Coinbase's crypto Lend program which Coinbase CEO Brian Armstrong was complaining about. The same type of program where Gemini customers lost their money lending and earning interest on crypto loaned out to Genesis: > The SEC has told us it wants to sue us over Lend. We don’t know why. https://www.coinbase.com/blog/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why

robotwizard_9009

Oh .. you mean statement from the judge? March 27th... https://www.courtlistener.com/docket/67478179/105/securities-and-exchange-commission-v-coinbase-inc/ For the forgoing reasons, the Court DENIES Defendants' motion for judgment on the pleadings insofar as the Court finds the SEC has sufficiently pleaded that Coinbase operates as an exchange, as a broker, and as a clearing agency under the federal securities laws, and, through its Staking Program, engages in the unregistered offer and sale of securities.

Sharlach

SEC has filed all kinds of bogus motions and lost in the end. Let's wait to see what the judge actually says.

robotwizard_9009

Ah yes.. the courts where judges are constantly agreeing with SEC that these companies are violating our securities laws and operating illegally. Filed 2 days ago.. https://www.courtlistener.com/docket/67478179/125/securities-and-exchange-commission-v-coinbase-inc/

robotwizard_9009

They don't need to be gone. They need to abide our laws. If they say that means its the end of crypto.. so be it. Fuck em. Bye Felicia. That's literally their narrative. "SEC is against crypto because they want us to follow financial regulations and laws. That would be the end of crypto!".. Bitch, please. If the entire business plan is to commit crime.. then it makes sense why they're so opposed to financial laws.

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

robotwizard_9009

Ha.. SEC just got terra.. coinbase, and counting. Judges confirmed them securities. It's like.. our laws or something. Just hit RH with a wells notice.. binance, FTX, terra... ect ect.. Just so many "legit" crypto institutions... it's hard to keep track of any that aren't crooks.

Sharlach

>He did. They simply have to abide our finance laws, just like everybody else. Crypto institutions refuse. These are systems made by institutions to bypass the laws we wrote. They don't get to break our laws because they feel like it. It's that stupid simple. [No, he didn't. Robin Hood met with the SEC 16 times over several years to try and register as a crypto securities broker, and he flat out told them no.](https://youtu.be/GTGrD14cT1A?si=ySSC23DRlRMDZFLM&t=195)

robotwizard_9009

He did. They simply have to abide our finance laws, just like everybody else. Crypto institutions refuse. These are systems made by institutions to bypass the laws we wrote. They don't get to break our laws because they feel like it. It's that stupid simple. We have road laws. Electric cars don't get to break our road laws because they're electric. Finance isn't new. Encryption isn't new. Crypto doesn't get to break our laws. Sorry not sorry. They can lobby and write propaganda all they want. You'll eat it up. Doesn't change a thing. Gg talked to FTX and told them to abide our laws. You know what FTX did? Sam ran to CFTC.. just like the rest of them are trying to do. CfTC is compromised.. not SEC. SEC is just doing it's job. CFTC members are getting bribed with jobs after they leave. Just like Heath Tarbert. CFTC is corrupt, 3:2. PHAM... Mersinger.. Benham. They literally almost aproved afTX to take over our commodities 24/7 right when it blew up. They almost crashed our markets. Things humans actually need like paychecks, mortgages, retirement pensions, food, lumber.. fucking dambasses. Playing with fire so billionaires can rip you off.

robotwizard_9009

ETH changed to a pos system. It's likely a security now. It can be both. The judge ruled XRP is a security with SEC protections for institutions but not retail(which makes no sense), and yall called that "a win". It's gross. Not sure why retail would want to help institutions bypass securities laws written to protect retail from institutional fuckery.. but here we are. Billions in propaganda will apparently do wonders.

Sharlach

Nope. [The CFTC reasserted that Ether is a commodity just last month](https://www.theblock.co/post/284856/cftc-ether-is-commodity-kucoin-lawsuit). > The CFTC on Tuesday publicly declared that ether and several other cryptocurrencies are commodities in a legal complaint against KuCoin’s operators, signaling the agency’s latest attempt to lay claim to the second largest cryptocurrency by market capitalization. and when the SEC sued the Ripple foundation, [the courts ruled against them and said ripple did not violate any laws and is a commodity when sold to the public, as well.](https://www.reuters.com/legal/us-judge-says-sec-lawsuit-vs-ripple-labs-can-proceed-trial-some-claims-2023-07-13/) >July 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. The SEC can claim whatever they like, but it is the courts or congress that has final authority, and to date, there is not a single cryptocurrency that has legally been established as a security. And if they were, that still doesn't mean the SEC can shut them down, it would mean the SEC has to actually allow them to register as such. Whether any crypto is or isn't a security doesn't even matter, because they would still be legal as either one.

robotwizard_9009

They're all securities except maybe bitcoin. SEC and CFTC have clarified this. It's you who has no idea. I actually read regulations activities and follow courts. You just read crypto propaganda.

Sharlach

Which crypto's are securities? The SEC has yet to establish that any crypto at all is a security, and several have been ruled as commodities by the courts. They also don't allow anyone to register any crypto as a security despite insisting they are. That's arbitrary and capricious behavior and is illegal. GG and the SEC are the ones breaking the law, not crypto companies. If you want cryptocurrencies to be securities then you need to 1. Establish that they actually are securities in the courts or through legislation. 2. Allow companies and foundations to actually register as securities. Gary Gensler has done neither of these. >I'm just tired of these fucking crooks fucking over retail and crashing our markets while they run off with billions. No, you're just tired of being wrong about everything these past 15 years and you're desperate to see crypto come crashing down because you've made hating it a part of your personality. It's not gonna happen though, buddy, so I suggest you find a more productive hobby.

Sharlach

Jesus Christ dude, you need help. That's a fictional narrative you created. Watch the interview I shared. The reality is more like: >GG: you guys are out of compliance, you're unregistered brokers selling unregistered securities. >Crypto industry: Ok, can we please register as brokers and register our products as securities? >GG: No. Here's another wells notice. You're still out of compliance, btw. >Crypto industry: OK, see you in court then. Only ones crying btw are you and the other buttcoiners, as well as GG, every time the SEC loses in court. Hope you're ready for the next round of losses and for GG to be replaced even if Biden wins.

robotwizard_9009

Crypto: we want clarity. GG: abide our securities laws. Crypto: Noooo! Wawawa. We want to break financial laws. We make tons of money stealing from retail and threatening financial systems with systemic risks.. hey everybody.. SEC is sooooo unfair.

qldvaper88

Yeah for example ETH's last time high was 1.5 years after the 2020 halving. It's healthy to assume a rough year ahead given SEC crackdowns and interest rate uncertainty but 2025 is a long way away and so much could happen between now and then, for better or worse. The ever present threat of escalating global is frankly something we should all be deeply concerned with. Corona flipped the world on its head in a week and this can happen anytime, if we can avoid that between now and the end of 2025 then I am not too phased with other market factors.

TheKevinWhipaloo

Nice try FBI/CIA/SEC/HLS.

DeaderthanZed

Well it’s a long and complicated history but to summarize xrp was one of the first crypto tokens launched way back in 2017. In launching it flouted SEC regulations and has been embroiled in a bitter legal battle with the SEC ever since. (They were successful in defending some of the SEC’s case and they lost on summary judgment on other claims.) But the SEC served as a very handy enemy around which to circle the wagons. And convince holders that as soon as the enemy was vanquished xrp would resume its destiny to overtake the world financial system. Meanwhile, in reality, other crypto tokens and ecosystems long since surpassed xrp by any meaningful measure such as TVL (total value locked), number of active developers, amount of $ invested in ecosystem apps, etc. And the token price has been basically stagnant for five years now. One other note since you mentioned your friend is far far right is that I have noticed an overlap between far right conspiracy theory believers and xrp and xlm users (xlm/stellar is basically the same crypto as xrp but re-launched by one of xrp’s co-founders in a manner that is more compliant with US law.) I believe there is something about these two chain’s missions of overhauling the financial system combined with the lack of objective evidence that they are attaining real world adoption that tends to attract such personality types. And yes, there are then many scam tokens or pump n dump groups that prey on them

pdlvw

This is a list of all FORM 13F filings to the SEC, not a filing of Fargo. Do you have the Fargo filing?

eggaholic69

I've thought about the naked shorting problem, and I just hope they are audited monthly by the SEC, but haven't seen confirmation of that.

imdabes

I think it’s already here. Devs being arrested for privacy software, IRS forms requiring all wallet addresses and TXIDs for each transaction, US citizens banned from using the vast majority of crypto services, SEC lawsuits everywhere, the proposed “blockchain integrity” act that will impose fines of 100k for interacting with mixed coins… it really hit home for me when I was looking at the list of restricted regions for mt. Perlin, a Swiss based on/off ramp company: “We accept clients from all countries for our crypto buy/sell services, except US and Russian persons, and residents of: Afghanistan, Belarus, Burundi, Central African Republic, Cuba, Democratic Republic of the Congo, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Libya, Mainland China (Hong Kong and Taiwan accepted), Mali, Myanmar, Nicaragua, North Korea, Romania, Russia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, Zimbabwe.”

Sharlach

Absolutely false. The industry went to the SEC in good faith for guidance and the SEC rebuffed them repeatedly and offered no useful guidance or pathway to legitimacy. If you tell companies that you need to register as a security broker, but then not allow them to do so, it is you who is the bad faith actor. https://www.youtube.com/watch?v=GTGrD14cT1A

robotwizard_9009

The industry is fighting against SEC from doing anything.. then bitches that they aren't doing enough. I call BS. Crypto has turned into a bunch of crooked institutions. I hope GG nabs them in all the ass.

No-Introduction-6368

He's right though, Gary comes off as a paid actor who forgets lines. SEC comes off as anti-crypto with no concrete reason why except for debunked speculations. Come election day I'm protecting my investment.

TopKekistan76

I find it extra interesting to see all this Trump/Biden crypto stance rumbling in the media late last week. Makes me think something on this front May move soon. Rates/ETH etf/SEC lawsuits/crypto bills… no telling how this breaks if crypto becomes a significant 2024 issue.

TopKekistan76

Positive. The idea being that they do what they can to encourage people ape in. So halting or greatly reducing the SEC uncertainty. Approve ETH etf + maybe one other news drop. that paired with rate cuts could throw some fuel on the supposed bull run. Assuming things are pumping heading into Nov they could use it as a political win.

TopKekistan76

If this is their plan I’d expect them to green light crypto soon rather than Biden/SEC current hostile stance. What you’ve described makes sense, I’ve kind of always assumed they’d attempt something like this honestly surprised it isn’t 100% obvious what their angle is just yet. Maybe they are trying to time it with cutting rates. Pump the markets, dump the markets (profit handsomely obviously), the  use the fallout to 1. Paint crypto that isn’t “fed backed” as dangerous 2. Begin the call for funneling all crypto into their controlled “safe” block chain. If this is their plan I reckon we see a massive 180 on crypto soon. Pre election.

coinfeeds-bot

tldr; Billionaire Mark Cuban criticizes SEC Chair Gary Gensler for not protecting any crypto investors against fraud. Cuban argues that Gensler's strict regulations on the crypto industry could negatively impact President Joe Biden's chances in the 2024 election, as crypto is popular among younger and independent voters. He suggests that Congress could help by passing legislation for clear crypto guidelines or by assigning cryptocurrency regulation to the Commodities Futures Trading Commission (CFTC). Cuban also advises Coinbase to endorse political candidates committed to replacing Gensler. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

CointestMod

#Ethereum Con-Arguments Below is an argument written by lj26ft which won 3rd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum is being shown favoritism and privilege by US regulators. This is the biggest con for Ethereum. Early promoters of Ethereum approached and worked closely with the SEC to shield it from any securities laws. The arguments used by the SEC in the Ripple case can be more easily applied to Ethereum. > > Why does Ethereum get a free pass from creating a securities offering? Because Joe Lubin started the Brooklyn project before Ethereum even launched. There's multiple threads on this very sub that shows they sold it to more than just developers. I find the hypocrisy and corruption to be the biggest con argument for Ethereum. It's being chosen by the incumbent system as the only standard for web3 so far. I don't think Ethereum would be as highly valued or trusted if it didn't have carte blanche on illegal fundraising/ hosting tens of thousands of illegal securities offerings. > > The market needs to be a level playing field and right now it's heavily tilted towards Ethereum because of financial interests of early promoters, conflicts of interests from US regulators and their financial interests in Ethereum. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuid7/top_coins_ethereum_conarguments_july_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1cpuu0f/daily_crypto_discussion_may_12_2024_gmt0/).

CointestMod

#Ethereum Con-Arguments Below is an argument written by lj26ft which won 3rd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum is being shown favoritism and privilege by US regulators. This is the biggest con for Ethereum. Early promoters of Ethereum approached and worked closely with the SEC to shield it from any securities laws. The arguments used by the SEC in the Ripple case can be more easily applied to Ethereum. > > Why does Ethereum get a free pass from creating a securities offering? Because Joe Lubin started the Brooklyn project before Ethereum even launched. There's multiple threads on this very sub that shows they sold it to more than just developers. I find the hypocrisy and corruption to be the biggest con argument for Ethereum. It's being chosen by the incumbent system as the only standard for web3 so far. I don't think Ethereum would be as highly valued or trusted if it didn't have carte blanche on illegal fundraising/ hosting tens of thousands of illegal securities offerings. > > The market needs to be a level playing field and right now it's heavily tilted towards Ethereum because of financial interests of early promoters, conflicts of interests from US regulators and their financial interests in Ethereum. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuid7/top_coins_ethereum_conarguments_july_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1cpuu0f/daily_crypto_discussion_may_12_2024_gmt0/).

Malakai41

Btc maxi's are like the SEC. Refuse to listen to reason.

coachhunter2

Not when the SEC file their lawsuit claiming it’s a security

mel2000

Biden's promise to veto a specific House of Reps resolution overturning a specific SEC crypto policy is a long way from "veto any bill about cryptocurrency." Looks like you're deliberately vectoring misinformation about Biden.

coinfeeds-bot

tldr; Franklin Templeton CEO Jenny Johnson predicts a significant shift in the investment landscape due to blockchain technology. In her speech at the Milken Global Institute Conference, she envisioned ETFs and mutual funds moving to blockchain platforms, which would revolutionize investing by streamlining processes and reducing costs. Johnson highlighted Franklin Templeton's pioneering steps into blockchain with an SEC-approved money market fund and discussed the potential for blockchain to democratize access to new asset classes like NFTs, despite regulatory challenges. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Zelulose

I disagree. CFTC is just as bad as SEC for regulation. We will need a separate cryptocurrency regulator.

robotwizard_9009

If this was true.. which it isn't. The only ones that let these crooks get away with crime were R appointed and left SEC to be hired by large crypto firms. It's called a revolving door and they were bribed to let bad guys do bad things.

kellyniquette

No. SEC suit incoming

shanatard

it was never really about the money laundering. do you also believe the invasive surveillance laws were for the children? binance was accused of laundering 900 mil over four (4) years when they do 500 mil volume daily. it's a truly minuscule proportion when put into context, when financial crimes are committed openly without consequence in traditional markets. It's simply an excuse to tighten US control over exchanges, which wouldn't be so bad if the SEC was competent. Instead they let bad actors like FTX run around while "protecting" users from reliable exchanges. All that's left now is coinbase (lol) and kraken (which isn't even available in some states)

jekpopulous2

ETH will be approved but not until the SEC runs out of challenges. It’s gonna be a bumpy ride…

Woeffie1980

Im always surprised by US agencies like SEC. First they say yes, then no, then yes, then no. And all of a sudden, without any formal regulation, the SEC is suing you for illegal trading. How, as an exchange, can you know if there are no clear rules or regulations.

wee_d

The SEC approved the spot ETFs because the courts basically forced their hand when they lost in court to Grayscale after rejecting their application for a spot ETF. So you have Grayscale and the courts to thank for that. Left to Gensler alone, there would be no spot ETF. More over, Trump has changed his tune on crypto just as Michael Saylor went from anti BTC to pro BTC. Trump and his wife have been selling NFTs and cards and has said he’ll be taking crypto for campaign donations. When asked about crypto in February, he said, “You probably have to do some regulation. But many people are embracing it. More and more I'm seeing people wanting to pay with Bitcoin, and you're seeing something that's interesting, so I can live with it one way or the other."

biddilybong

SEC approved the Bitcoin in ETFs and the price went up 400%. Hardly anti-crypto. Trump hates crypto and will flip immediately. Go back and read his comments about it before his recent flip.

coinfeeds-bot

tldr; Kraken is contesting SEC charges that it operated as an unregistered securities exchange, broker, dealer, and clearing agency. The crypto exchange filed a motion to dismiss the SEC's charges, arguing that the SEC's claims expand its jurisdiction beyond its authority by attempting to redefine investment contracts. Kraken's defense highlights that the SEC has not clearly identified the securities in question, instead referring to broad concepts. The SEC alleges Kraken offered 11 'crypto asset securities' without proper registration, a claim Kraken disputes by referencing the Supreme Court's definition of an 'investment contract' in SEC v. W.J. Howey Co. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MaximumStudent1839

Do you listen to your self-serving argument? So if SEC fucks on some areas, then we must give up all security regulations?

ECore

Who appoints the SEC commissioners?

ccModBot

Thank you for submitting to /r/CryptoCurrency, Your post has been removed because there are already 2 posts about SEC in the top 50. You may post it again when the topic is no longer at the limit. ---[**Click here for a link to view the current limits**](https://www.reddit.com/r/CryptoCurrency/wiki/topic_limits)--- *I am a bot, and this action was performed automatically. Please contact the [moderators of this subreddit](https://www.reddit.com/message/compose?to=%2Fr%2Fcryptocurrency) if you have any questions or concerns.*

Odd_Warthog_1965

Alternative facts? Crypto has been under constant attack by the Biden administration and its democrat allies, but I suppose I’m not to believe my lying eyes and ears about what democrats have been saying and doing. Also, Biden and Obama were in office back in 2013 when the first spot Bitcoin ETF application was made, and Grayscale had to take the SEC to court to finally pave the way for approval this year. There’s no credit here to be given to the Biden administration. I can still see through my seething hatred of Trump to understand that the democrats have been and will remain antagonistic toward crypto. Because we lost the balance of the Supreme Court for our lifetimes as a result of the sanctimonious crowd who couldn’t vote for Hillary due to their hurt feelings for Bernie, and because democrats have repeatedly shown they are incapable or unwilling to legislate anything meaningfully good for the Court to overturn anyway, being “single issue” about this and “in it for tech” is about the last real hope I can see for now.

coinfeeds-bot

tldr; Coinbase is engaged in a legal battle with the SEC over cryptocurrency regulation in the US. Coinbase advocates for crypto-specific regulations, arguing that current laws, designed for traditional securities, are inadequate for the dynamic crypto industry. The SEC, however, believes existing securities laws are sufficient and has rejected Coinbase's push for new rules. This dispute has led to legal challenges, with Coinbase accusing the SEC of unfairness and inconsistency, particularly in its enforcement actions. The outcome of this battle could significantly impact the future regulatory landscape for cryptocurrencies in the United States. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

_who_is_they_

Except for their unleashed dog the SEC running loose suing everyone and their mother.

basicbooch

Be your own bank! Mint your own paper wallets! Bank Notes! OP SEC is for amounts over a dollar! GIFT SATOSHIs too the WORLD! they can figure out about private keys and xpubs on their own time!

coachhunter2

Just wait until the SEC launches its lawsuit claiming ETH is a security

coachhunter2

Just wait until the SEC launch their lawsuit against ETH

ccModBot

Thank you for submitting to /r/CryptoCurrency, Your post has been removed because there are already 2 posts about SEC in the top 50. You may post it again when the topic is no longer at the limit. ---[**Click here for a link to view the current limits**](https://www.reddit.com/r/CryptoCurrency/wiki/topic_limits)--- *I am a bot, and this action was performed automatically. Please contact the [moderators of this subreddit](https://www.reddit.com/message/compose?to=%2Fr%2Fcryptocurrency) if you have any questions or concerns.*

One_Boot_5662

My prediction: Solana keeps growing and growing, it's price keeps climbing and everyone is happy. Then something goes terribly wrong, and everyone is not happy. "Investors" run to the SEC and call for much stricter regulations on cryptocurrency.

InevitableBudget510

Meanwhile SEC looks the other way. BuT wE pRoTeCt tHe iNvEsToRs!!

Apprehensive_Work830

I think Ripple got off very lucky. You can bet that the 90% of the crypto industry that hates the SEC hates Ripple just a little bit less. We all knew their coin was a security(it was created to be used by banks and that is why we invested in it; that is 100% a security), we just didn't want the SEC saying all crypto was just because XRP was.

MaximumStudent1839

This is stupid. If you do that, all the US startups can then go public early via ICOs and make the SEC meaningless. Plenty of shady enterprises and Wall Street funds would find a good loophole against the SEC regulations by moving to “crypto”.

mozacare

Then the CFTC will instead screw people over. As an attorney in the digital assets space the CFTC is worse because of the even further lack or clarity from the regulator. It’s largely staffed by new college graduates who have no idea their ass from their face. The only reason the CFTC has been largely unscathed in the eye of the public with regards to its regulations is that most people aren’t trading oil futures, corn derivatives, etc. CFTC regulations are the most convoluted piece of shits ever. Do you want to have all offering materials go through 5 levels of CFTC review contradicting themselves each time? The SEC gets a ton of flak and rightfully so with their gunslinger attitude and inconsistency under Gensler especially with respect to digital assets. You don’t like the SEC? You DEFINITELY will abhor the CFTC. Modernization unfortunately needs to happen at the congressional level but until we get a large change in the age make-up of Congress we’re going to be stuck in digital asset no man’s land for a while.

coinfeeds-bot

tldr; Mark Cuban has advocated for the Commodities Futures Trading Commission (CFTC) to regulate all aspects of the cryptocurrency industry, urging the U.S. Congress to provide regulatory clarity before the 2024 presidential election. He believes this move could secure a second term for President Joe Biden by addressing the crypto community's concerns. Cuban criticized the SEC and its Chair Gary Gensler for their stringent regulatory approach, which he claims has made it difficult for legitimate crypto companies to operate in the U.S. He suggests that the CFTC would be a better regulatory body for the crypto industry, highlighting the need for industry-specific registration and regulation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

BoomerGenXMillGenZ

Guess the SEC has something especially nasty brewing.

Adventurous-Ad-101

gBTC saw daily net outflows since ETF launched. This appears to have ended on May 6th, but during the period would have contributed to price suppression. After the halving, you see miner costs change significantly. With the current computer power required to mine BTC, at the current price it proves unprofitable for some parties. There is therefore an incentive to suppress price and drain reserves - hopefully killing competition, reducing computing power needed and ultimately improving profitability for those that remain. Bad news is traditionally released outside of market opening hours to allow markets not to be shifted abruptly be emotional reactions. With crypto never closing, these movements have more of an impact. During the last 30 days we’ve had 2x war announcements and 2x stagflation fear stories. Regulation is currently unclear and the future for most cryptos in uncertain. Whilst this regulation isn’t impacting BTC, via liquidity pools and bridging cryptocurrency price moves are interconnected in slight ways. There are also hidden concerns over Binance & The US. US having access to Binance may uncover market manipulation and wash trades for previous high value users of crypto. They are likely currently running controlled and minimised activity on chain. Finally, there are significant truths in the SEC’s current cases. MiCa arriving in the summer reduces the dominance of USDC & USDT on chain.

mattymoyanksfan

And you have probably no investment history and have never dealt with the SEC. Hell, you probably have little to no understanding of the SEC and how they operate. After you actually actively invest and trade for three decades and actually educate yourself…come on back and we can have an actual intelligent conversation. Until then, start learning and all the best

BoomerGenXMillGenZ

You think this is all about magical cycles, rather than demonstrable new and tough regulations from the SEC that could severely affect fundamentals? Seriously? Embarrassing.

Financial_Design_801

America's largest bank JPMorgan Chase discloses spot Bitcoin ETF holdings in new SEC filing Not sure of values but I see IBIT, FBTC, BITB Actions always speak louder https://twitter.com/bitcoinmagazine/status/1789020004131737624?s=46&t=ihVglVXC0BQSbw6j57EoaA

recessiontime

Memecoins are booming because SEC is labelling everything else a security.

ccModBot

Thank you for submitting to /r/CryptoCurrency, Your post has been removed because there are already 2 posts about SEC in the top 50. You may post it again when the topic is no longer at the limit. ---[**Click here for a link to view the current limits**](https://www.reddit.com/r/CryptoCurrency/wiki/topic_limits)--- *I am a bot, and this action was performed automatically. Please contact the [moderators of this subreddit](https://www.reddit.com/message/compose?to=%2Fr%2Fcryptocurrency) if you have any questions or concerns.*

BoomerGenXMillGenZ

I would love to see what prices would be right in a world where the SEC wasn't trying to destroy crypto. Everything else would be the same, but without the SEC hostility. I'm guessing BTC would be $120k, ETH maybe $6k. I mean who knows, but the SEC is single-handedly killing any bull market hopes.

Financial_Design_801

🇺🇸 $3 billion asset managers Rubric Capital Management ($60m) and Symmetry Investments ($53m) are now the two biggest IBIT holders, per SEC filings today https://twitter.com/julian__fahrer/status/1788970756711555565?s=46&t=ihVglVXC0BQSbw6j57EoaA

HSuke

The SEC/CFTC/OFAC/New York State made similar AML and sanctions-violation complaints about Coinbase, Kraken, and every exchange under the sun. Unless you had insider news about Binance, it was only speculation that they were doing anything much worse beyond allowing for VPN access between around 2017 era. This is first time this is being revealed.

CointestMod

#Ethereum Con-Arguments Below is an argument written by lj26ft which won 3rd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum is being shown favoritism and privilege by US regulators. This is the biggest con for Ethereum. Early promoters of Ethereum approached and worked closely with the SEC to shield it from any securities laws. The arguments used by the SEC in the Ripple case can be more easily applied to Ethereum. > > Why does Ethereum get a free pass from creating a securities offering? Because Joe Lubin started the Brooklyn project before Ethereum even launched. There's multiple threads on this very sub that shows they sold it to more than just developers. I find the hypocrisy and corruption to be the biggest con argument for Ethereum. It's being chosen by the incumbent system as the only standard for web3 so far. I don't think Ethereum would be as highly valued or trusted if it didn't have carte blanche on illegal fundraising/ hosting tens of thousands of illegal securities offerings. > > The market needs to be a level playing field and right now it's heavily tilted towards Ethereum because of financial interests of early promoters, conflicts of interests from US regulators and their financial interests in Ethereum. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuid7/top_coins_ethereum_conarguments_july_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1cobxro/daily_crypto_discussion_may_10_2024_gmt0/).

ccModBot

Thank you for submitting to /r/CryptoCurrency, Your post has been removed because there are already 2 posts about SEC in the top 50. You may post it again when the topic is no longer at the limit. ---[**Click here for a link to view the current limits**](https://www.reddit.com/r/CryptoCurrency/wiki/topic_limits)--- *I am a bot, and this action was performed automatically. Please contact the [moderators of this subreddit](https://www.reddit.com/message/compose?to=%2Fr%2Fcryptocurrency) if you have any questions or concerns.*

MaxSmart1981

lol i'm not defending grayscale. i'm saying it's a lazy narrative to paint them as an evil corporation causing every dip. grayscale is literally the reason the other etfs were approved as they were the reason the courts told the SEC they had to accept spot if they were going to accept futures. hate on grayscale all you want, but they aren't the only players out there with an agenda.

coinfeeds-bot

tldr; A Wall Street Journal report alleges Binance ignored internal investigations of market manipulation to maintain relationships with key clients. One case in 2023 involved DWF Labs, accused of creating artificial token volume. Despite recommendations to remove DWF, Binance did not act. The report also mentions Binance's decision to off-board the Tron Foundation following SEC charges of market manipulation, yet continued to support TrueUSD, linked to Tron's Justin Sun. The article suggests a culture at Binance of tolerating illicit activities for its benefit. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coachhunter2

It was under his administration that the SEC’s crackdown on crypto started, for example with the lawsuit being filed against Ripple and XRP

betterluckythengood

Do you know the breakdown of how the 3 D and 2 R SEC commissioners voted on the ETF? I'll let you look it up.

kirtash93

Forgot about the SEC limit damn... \*roll eyes\*

ccModBot

Thank you for submitting to /r/CryptoCurrency, Your post has been removed because there are already 2 posts about SEC in the top 50. You may post it again when the topic is no longer at the limit. ---[**Click here for a link to view the current limits**](https://www.reddit.com/r/CryptoCurrency/wiki/topic_limits)--- *I am a bot, and this action was performed automatically. Please contact the [moderators of this subreddit](https://www.reddit.com/message/compose?to=%2Fr%2Fcryptocurrency) if you have any questions or concerns.*

EmpiricalRutabaga

Overstock.com was another, back in the day. Naked shorting is a known problem (and is illegal, and is a scam -- one that the SEC doesn't really bother with cracking down on because how dare they harm Wall Streeters, don't you know those Wall Street firms are the foundation of the modern economy and deserve everything they make, you monster?!).

Duncle_Rico

>The point is that the sitting president is not responsible for it either way. Yes. He is. Do you understand how our government works? >Gary Gensler was nominated by President Joseph R. Biden to serve as Chair of the U.S. Securities and Exchange Commission on February 3, 2021, confirmed by the U.S. Senate on April 14, 2021, and sworn into office on April 17, 2021. [SEC.gov About Gary Gensler](https://www.sec.gov/about/commissioners/gary-gensler#:~:text=Gary%20Gensler%20was%20nominated%20by,office%20on%20April%2017%2C%202021.)

Shiratori-3

I'm not American but even I can see you're grasping a bit there. Which strains credulity. The SEC, led by the administration's appointee, got hauled over the coals for arbitrary and capricious behaviour wrt Bitcoin ETF denials. So really it was the courts that provided the check on behaviour and the approval was in spite of efforts to the contrary. The democrat commissioners actually voted against the approval following the court decision, and their explainer write-ups pretty much came across as fact-lite partizan cringe. There's a White House fact sheet that lays out the headlines of the current US Administration's all-of-govt approach to crypto and accompanying chokepoint campaign - see: https://www.whitehouse.gov/briefing-room/statements-releases/2022/09/16/fact-sheet-white-house-releases-first-ever-comprehensive-framework-for-responsible-development-of-digital-assets/ And for context, I'm not only non-American, but really dgaf about US partizan culture tribes or whatever that you guys gravitate to. I generally tend to unsubscribe or mute channels that start banging on about US partizan stuff from either side of the spectrum. Traditionally I've voted probably centre left (non American context so not really comparable) - but tbh if I was in the US I would 100% be voting against the likes of non-good-faith actors like Elizabeth Warren and the party's anti-crypto policy stance.

GyozaMan

You shouldn’t be worried about trump or Biden. You should be worried about who will be appointed to chair the SEC whichever one gets into power. Trump might not be crypto friendly or knowledgeable but who is appointed SEC chair if republican _probably_ will be.

Sohailk

as a life long democrat, watching them attack my industry has made me lean more conservative these days. the weaponizing of the SEC to essentially push out the whole industry out of the country goes against it's whole mandate of being 'merit neutral'. if they can do it to my industry, why wouldn't they do it to others?

Sohailk

the one that has the SEC that had to get sued for being 'arbitrary and capricious' towards the btc etf?