Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: tranthidung on January 10, 2024, 05:15:28 AM

Title: Timeline of SEC's crypto regulatory activity
Post by: tranthidung on January 10, 2024, 05:15:28 AM
(https://i.ibb.co/sWssWXf/digital-assets-061423.webp) (https://ibb.co/6XDDXqM)

Gary Gensler as a chair of SEC. - Securities and Exchange Commission, led this regulatory agency with more actions against cryptocurrencies and this market. While in reality, the mission of SEC. is to regulate securities markets. [1]

Newbies in this market are very sensitive and vulnerable to regulatory news and SEC, Gensler are driving forces for chaos of this market recent months. He did not fulfill his role as a chair of SEC and a latest hoax from them hours ago is another big shame.

Gensler said he wants and does everything to protect US. citizens and investors in cryptocurrency market. In reality, the fact is he caused a lot of unnecessary problems in this industry and many companies, people lost money because of his shady activities.

[1] SEC Defined, How it works (https://www.investopedia.com/terms/s/sec.asp)

Sources
Title: Re: Timeline of SEC's crypto regulatory activity
Post by: tranthidung on January 11, 2024, 06:30:30 AM
SEC approved Bitcoin Spot ETF applications is a true milestone for Bitcoin community but let's see what Gary Gensler continues to use masks to cover his lies.


SEC. approved Spot ETFs with a vote from Gary because for months, we knew that only one more vote, to support it, and it will be approved. The important vote is from Gary, no doubt about this.

He did voted to save his job but turned his face again by saying lies. What a shameful man!
Title: Re: Timeline of SEC's crypto regulatory activity
Post by: TomPluz on January 11, 2024, 08:15:12 AM

Just like the majority of us who are in the cryptocurrency industry, I only have a loathsome attitude towards Gary Gensler and it is because he is not actually doing his job. He should be protecting the people, the investors most especially the newcomers to the market by making sure all players are following the legal guidelines and standards but at the same time he should be working with the players of the industry so that a clear and acceptable regulatory framework can be establish to guide all of once and for all. In fact, he failed us in FTX fiasco big time and he is waging a war with many crypto platforms instead of having them come and work together.
Title: Re: Timeline of SEC's crypto regulatory activity
Post by: tranthidung on January 11, 2024, 12:13:37 PM
Quote from: TomPluz on January 11, 2024, 08:15:12 AM
Just like the majority of us who are in the cryptocurrency industry, I only have a loathsome attitude towards Gary Gensler and it is because he is not actually doing his job.
He tried to lie again in this statement.
Statement on the Approval of Spot Bitcoin Exchange-Traded Products (https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023).

He voted Yes to secure his 'chair' but did not want to admit his faults over years.
Quote
Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7]

While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.[8]

Quote
He should be protecting the people, the investors most especially the newcomers to the market by making sure all players are following the legal guidelines and standards but at the same time he should be working with the players of the industry so that a clear and acceptable regulatory framework can be establish to guide all of once and for all. In fact, he failed us in FTX fiasco big time and he is waging a war with many crypto platforms instead of having them come and work together.
He failed many times with Terra, FTX.

He just failed yesterday with an announcement through X account which was 'hacked'. The account hack was confirmed by X's security team but it is under investigation of FBI. It will not end instantly after the Bitcoin Spot ETF approval.
Title: Re: Timeline of SEC's crypto regulatory activity
Post by: tranthidung on January 12, 2024, 03:28:40 AM
One a day of approval announcement (yesterday), SEC. continued to make some chaos by up and down of their approval document.

Democrats Dissent On SEC Spot Bitcoin Approval, Gensler Distances Himself From 'Terrorist-Financing' Crypto (https://www.zerohedge.com/crypto/sec-approves-spot-bitcoin-etf-real-time).

We knew that Miss Hester Peirce is one of two supporters for Bitcoin Spot ETFs in SEC. and you can read her statement after the yesterday approval. It is a strong slap on the face and reputation of Garry Gensler.

Above link has some bold and highlight for you but if you want to read it from an original source, read there