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Brad Garlinghouse expressed: Chair Gensler insisted (again) in today’s testimony that the securities laws are clear and easily understandable for the crypto market and then turned around and said Congress needs to write laws to clarify. So which one is it?
Thank you Sen Toomey for being a voice of reason.
Stuart Alderoty expressed: Some (UK, Singapore, Japan, etc) have clear frameworks for innovation to flourish w/ consumer & market protection, others with sandboxes for safe collaboration between innovators & regulators. How did the US end up with secret regulatory inquisitions?
Community response: Regulators are attacking the crypto industry as a whole. Ripple was a prime example when it happened initially. First XRP, then Binance and Coinbase and now the Celsius Network. Nothing will stop the SEC and is not about our protection.
In Australia all cryptos are classed as assets. Pretty simple. Tax laws regards CGT are clear and easy to understand. None of the bullshit about securities. US is toxic to crypto and I don’t why any crypto would want to be based there.
It’s called China and Wall Street. The corruption of our government runs so bloody deep. Just think, the stock market is just as corrupt and the Fed prints massive debt yet taxes still are paid except by the wealthy and politicians.
Anyone else agree that there will be a new regulatory body to regulate the crypto currency markets? Clearly the SEC is incapable of this task.
Goldman Sachs and JP Morgan want to set up a Bitcoin/Ethereum duopoly and let their puppet agency SECGov control every other crypto project on the planet with the “muh securities” crap. FACT.
The SEC is nothing more than the mafia-like enforcement arm of old-tech banks who corruptly line the pockets of appointed SEC chiefs. Their out-of-date “regulations” from 90 years ago are kept vague by design, so the SEC can rig the market via uninterpretable lawsuits.
SEC is corrupted institution backed by some actors in US Congress. They are blatantly harming the Crypto industry and innovation and affecting thousands of retail investors not just in US but also overseas.
We are like a third world country! Goodbye innovation! Congress needs to step up and put the SEC back in their own lane.
Because Congress let’s them run wild with no one to keep them in check. Now they fell they do anything the want. And technically they can because Congress gets their kick back too, so they stay quiet.
I hope the Judge can read between the lines and see this SEC department cannot be at the helm any longer plowing through and distorting the 4th industrial revolution. The SEC is a threat to the people and the US.
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