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Alex Mashinsky: I was in token 2048 in Hong Kong, we were talking about that in 2018. We filed with the SEC voluntarily in 2018. I think we were the first crypto company to do that. Everyone else were going on like Mashinsky you are crazy, you are going to wake up the bear, why you are filing with SEC. Well, we have not received any letters from them ever since. Because, regulators want to know what you are doing, how you are doing it, why you are doing it and so on.
The more communication you have with them, the better. Same thing in the UK, FINCEN, and with all other agencies. I don’t think there is enough clarity. There is some clarity, but there is not enough clarity. And, everybody around the world is waiting for the SEC to wake up and tell us what the rules are. Right.
I don’t think the SEC is trying to quash crypto or slow down crypto or anything like that. I think, right now, they are collecting a lot of information from a lot of companies. They want to show who are the bad actors. They are telling you very clearly – we suing these guys, we are suing these guys. And, they are going to show you who are the good actors.
And, when those two are kind of clearly determined, all the crypto companies, does not matter if you are calling yourself DeFi or CeFi or any Fi, you are going to have to choose, which camp you are going to belong to. Right because UniSwap felt they were just a software company. And they got a subpoena from the SEC, right, saying, hey, “come over here.”
The point is the regulator does not care what you call yourself. There point is there is no conflict between being fully compliant and a crypto company. And, if you guys are planning to do a project or anything else, don’t try to pretend like the laws don’t apply to you (or) you are going to put yourself in some jurisdiction that has coconuts and nobody is going to come after you. That is not a winning strategy. The industry always moves faster than regulators. Always.
Community response: Totally agree with Alex. It’s not about make $1M but it’s an equal opportunity for everyone to achieve financial freedom. Still need to work hard to save more money and Celsius is just a tool for making our dreams closer. Thanks Alex, other co-founder and the team to make this happen
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.” – Mashinsky
