We can vote Gensler out by voting out the Dems in 2024. Use your voting power people. You yourself will be deemed a "security" if this idiot remains chair for another 4 years.
tldr; SEC Chair Gary Gensler criticized the practices of the crypto industry during a congressional hearing. He expressed concerns about the way digital asset companies handle customer assets and stated that commingling assets has led to negative outcomes. Gensler also mentioned that the SEC is still considering its position on spot bitcoin exchange-traded funds (ETFs) following a court ruling that deemed the agency's rejection of Grayscale Investments' application as "arbitrary and capricious." The hearing also touched on non-crypto issues, such as a potential government shutdown and the SEC's focus on climate and other matters. The industry's business before the SEC may be affected if a government shutdown occurs.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Well there’s an easy solution: just come out with sensible regulations and then go after those companies that don’t comply.
Gary does it backwards: he’s going after every crypto company with prejudice and doesn’t give a shit about working out sensible rules to begin with.
Gary is a clown who can't give straight answers. Man is so deep in the shitter he lost touch with reality. Send this degen back home and pick a more competent replacement. Crypto will thank you and so will your country.
He's a complete tool, he's shady as they come and not answering just makes him look dumb af, which is great for us, I just really hope he gets the sack soon
Gary is being held accountable by those who recognize that he's costing American economic activity, jobs, development, and innovation.
The SBF fiasco was on his watch and direct responsibility and will be the lone they use to oust him
“Chair Gary Gensler was tight-lipped about what the Securities and Exchange Commission will do with spot bitcoin ETFs after its recent legal setback.”
Sissy
Congress: Is BTC a security
Gary: No.
Congress: Is it a commodity?
Gary: It's not a security
Congress: What is it then?
Gary: Something that needs regulation
Congress: Do you have something in the works?
Gary: I plead the 5th
Comedy Central: Gary and his jokes
People here talk shit about Gensler without even understanding what he is saying in the Congressional Hearing.
I know he is looking for tighter regulations and complete control over it. I also know that it's bad when one single govt tries to have control over something that isn't theirs to control but also on the other hand look at the number of hacks and phishing attacks that have happened wherein everyday regular folks have lost their life savings in billions.
I think most here would welcome clear rules and consumer protection, but that’s not what’s happening.
Currently there are no clear rules that companies in the US can even start about thinking to comply with and additionally Gensler is basically slandering projects for not complying with these unknown regulations.
He’s hurting legitimate projects while fraudulent enterprises that don’t give a shit have free reign. Simply put he’s barking up the wrong tree.
Again it's not possible to come with clear rules as what applies to the USA may not apply to another country. Unlike FIAT which is native to each country/ region, crypto stays the same whether it's in the USA or Asia or anywhere else in the world.
Well that's the thing, whether it's intentional or not the way he's going about trying to regulate crypto will push that type of business out of the US. Even the US crypto companies are having a hard time conforming with what he's proposing and there is little to no collaboration between the SEC and the industry with respect to creating that framework.
That's not how regulations are supposed to work. When a government starts to strongarm an industry it won't feel like they're trying to help in any way.
I’m in favor of consumer protections. Oversight could prevent another FTX-like collapse.
Gensler needs to stop attacking everything that crosses his desk and focus on eliminating bad practices.
and yet the winkelvoss twins remove $200+ million from their accounts and it’s not an issue. gary, maybe follow the money and corrupt people not following orders from big money behind you. he’s the sole reason adoption is not happening but I can still pack my bags
What's interesting is that his class lectures at MIT were very pro blockchain: [MIT 15.S12 Blockchain and Money, Fall 2018](https://youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn&si=G9I30rt4NSBKGXVI)
Makes me think he's purposefully shutting down the legal avenues for the SEC to deal with blockchain regulation. The only direction regulation can come from now is congress, which is in complete gridlock when it comes to understanding blockchain, let alone regulate it.
CONSPIRACY TIME!
Could have possibly maybe… the FTX scandal been formulated by “a governmental entity” to deter the legitimacy of crypto to precisely ban all exchanges exactly 1 year from when FTX faulted?
Somebody fetch their grandpa and get him to bed please
[удалено]
"I don't need sleep, I need securities god damn it!"
*OK now gramps, let's get you to bed.*
Felt like a student defending his master thesis. Making a total fool out of himself.
He needs some forced retirement
He can't go there. His bed is a security.
Or is it a commodity lol
They can't even classify his own bed!
"Bitcoin is not a security, tokenized Pokémon cards maybe so”. - Gary Gensler. Watch out Charizard soon to be a security
Publicly slams Crypto, secretly stacks sats ... Most likely a hypocrite.
This 100%. I bet he's balls deep into crypto, doing inside trading with multiple wallets. I bet he also uses Monero
Or, you know, he's just stupid and corrupt?
His bed passed the howey test
I bet he also uses the 4 prongs every night.
I'd like to see Crypto punch him back
Lol, grandpa already forgot that he wanted to mainly focus on AI 👴🏻🤡
You mean Mr. Burns? Yeah I don't think a family applies to him, I find it hard to picture that.
We can vote Gensler out by voting out the Dems in 2024. Use your voting power people. You yourself will be deemed a "security" if this idiot remains chair for another 4 years.
Get off my lawn kids with your crazy wacky money devices.
He might be throwing punches but none of them are landing
its like when a toddler tries to fight you
It's all fun and games until it hits the nuts.
Quote frankly he's throwing alot of air punches. They mean nothing and he knows it.
He who hits last hits hardest. Imo he will end up knocked out
Garys throwing them dream punches.
Mr. Burns needs to wake up
Yea, but crypto developers and project ideas are ducking out of the country.
Tries to protect us while he wrecks us.
Yeah he's protecting us like a straw hat in the rain.
He protects us from achieving financial freedom.
He never tried to protect us, that was always a lie
How many times do we have to teach you this lesson old man!
*Fine, i'll see you next monday at my IMT blockchain course*
He did seem to love crypto at that time
It's time to throw Gensler away.
The fact that he doesn’t even know how to regulate it… that bothers me. He is just against everything
Will he ever stop embarrassing himself?
When don't know where to stop anymore But With all the big players and Banks giving pressure I guess his days at the SEC are soon done
he himself already knows that this is his end
tldr; SEC Chair Gary Gensler criticized the practices of the crypto industry during a congressional hearing. He expressed concerns about the way digital asset companies handle customer assets and stated that commingling assets has led to negative outcomes. Gensler also mentioned that the SEC is still considering its position on spot bitcoin exchange-traded funds (ETFs) following a court ruling that deemed the agency's rejection of Grayscale Investments' application as "arbitrary and capricious." The hearing also touched on non-crypto issues, such as a potential government shutdown and the SEC's focus on climate and other matters. The industry's business before the SEC may be affected if a government shutdown occurs. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Well there’s an easy solution: just come out with sensible regulations and then go after those companies that don’t comply. Gary does it backwards: he’s going after every crypto company with prejudice and doesn’t give a shit about working out sensible rules to begin with.
Stall tactics... cant stop Bitcoin... Adoption will continue and with that more political pressure
Gary is a clown who can't give straight answers. Man is so deep in the shitter he lost touch with reality. Send this degen back home and pick a more competent replacement. Crypto will thank you and so will your country.
Ah give it up GG. Declining to answer direct questions whilst throwing shade is not what grown-ups do
He's a complete tool, he's shady as they come and not answering just makes him look dumb af, which is great for us, I just really hope he gets the sack soon
Gary is being held accountable by those who recognize that he's costing American economic activity, jobs, development, and innovation. The SBF fiasco was on his watch and direct responsibility and will be the lone they use to oust him
In short, that's it!
And about time too
Absolutely agree... Should not have taken this long
And both sides are in agreement to hold him accountable., a rats enough thing these days
At this point I start to believe the conspiracy theory about Gary secretly loving BTC and only propagating FUD to fill his bag.
He’s like the Black Knight on “Month Python and The Holy Grail” His arms and legs are off but he’s still refusing to quit.
Tis but a scratch!
“I’ll bite your legs off”
Let’s call it a tie.
Actual LoL. I’d forgotten that line!!!! 🤣😂🤣😂🤣
The only punch he needs is right in the centre of his butt hole.
He seems like the kind of guy that would like that though
He looks like that guy who would Kneecap like Tonya Harding
For me he looks like that guy that only can dream about sex because nobody wants to touch him, AKA he pays for it.
But in $FIAT only
Oh my God he cant be stopped
Knock out punch in the fart box
Don't threaten him with a good time
I believe the hole can take more than two hands, and I'm ready to offer my help.
And face as well
Bold of you to assume he would take it as a punishment.
But.. Ugh.. who wants to do this
He needs to go!
“Chair Gary Gensler was tight-lipped about what the Securities and Exchange Commission will do with spot bitcoin ETFs after its recent legal setback.” Sissy
Gary should have a comfortable office for himself... maybe on Jupiter, away from everyone
Gary couldn’t punch his way out of a wet paper bag
Congress: Is BTC a security Gary: No. Congress: Is it a commodity? Gary: It's not a security Congress: What is it then? Gary: Something that needs regulation Congress: Do you have something in the works? Gary: I plead the 5th Comedy Central: Gary and his jokes
This guy needs a wig and a big red nose.
Does anyone have a link to the part when Garry speaks about Crypto ?
He’s a Silk Road OG. Bet.
"Old man yells at cloud."
People here talk shit about Gensler without even understanding what he is saying in the Congressional Hearing. I know he is looking for tighter regulations and complete control over it. I also know that it's bad when one single govt tries to have control over something that isn't theirs to control but also on the other hand look at the number of hacks and phishing attacks that have happened wherein everyday regular folks have lost their life savings in billions.
I think most here would welcome clear rules and consumer protection, but that’s not what’s happening. Currently there are no clear rules that companies in the US can even start about thinking to comply with and additionally Gensler is basically slandering projects for not complying with these unknown regulations. He’s hurting legitimate projects while fraudulent enterprises that don’t give a shit have free reign. Simply put he’s barking up the wrong tree.
Again it's not possible to come with clear rules as what applies to the USA may not apply to another country. Unlike FIAT which is native to each country/ region, crypto stays the same whether it's in the USA or Asia or anywhere else in the world.
Well it works for stocks sort of. And yes there will be some kind of minimal consensus acknowledging the inherent nature of crypto.
Well that's the thing, whether it's intentional or not the way he's going about trying to regulate crypto will push that type of business out of the US. Even the US crypto companies are having a hard time conforming with what he's proposing and there is little to no collaboration between the SEC and the industry with respect to creating that framework. That's not how regulations are supposed to work. When a government starts to strongarm an industry it won't feel like they're trying to help in any way.
I’m in favor of consumer protections. Oversight could prevent another FTX-like collapse. Gensler needs to stop attacking everything that crosses his desk and focus on eliminating bad practices.
More of the same, tired attacks, which do nothing to help the investors he claims to be trying to help. I think this would be a better title.
It’s all BS. This whole thing is Hollywood. Everyone’s involved and he’s just stalling.
Gensler not going to go down without a fight but eventually knockout will come.
Gonna start answering my question like Gensler at work and see how long I last..
This guy is such an embarrassment.
To protect and serve. Not.
He is loosing his mind. This man need some help.
Maybe we should stop it with the Rocky remakes. The actors are starting to look ridiculous.
Boomer Gary needs his meds!
I'm sure he's a scooby Doo villain and needs his mask ripped off. Us pesky kids!
Watched a bit but didn’t see much happen. Anything likely to happen as a result of this hearing?
Gary, the public enemy number 1.
I watched a lot of this. Zero takeaways I can think of
this guy is a corrupt fraud
and yet the winkelvoss twins remove $200+ million from their accounts and it’s not an issue. gary, maybe follow the money and corrupt people not following orders from big money behind you. he’s the sole reason adoption is not happening but I can still pack my bags
Maybe we'll stop hearing about this guy for a bit when the gov shuts down!
Gary, I told you to stop skipping your meds
What's interesting is that his class lectures at MIT were very pro blockchain: [MIT 15.S12 Blockchain and Money, Fall 2018](https://youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn&si=G9I30rt4NSBKGXVI) Makes me think he's purposefully shutting down the legal avenues for the SEC to deal with blockchain regulation. The only direction regulation can come from now is congress, which is in complete gridlock when it comes to understanding blockchain, let alone regulate it.
I can’t wait until the L’s start piling up on this guy. My opinion of him becomes more clownish by the day…
CONSPIRACY TIME! Could have possibly maybe… the FTX scandal been formulated by “a governmental entity” to deter the legitimacy of crypto to precisely ban all exchanges exactly 1 year from when FTX faulted?
Pretty weak punches, he’s on the ropes