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š¤SEC Chairman speaks out before leaving office: Crypto market is full of bad actors
SEC Chairman Gary Gensler is about to leave office. In an interview with Bloomberg TV on January 8, he made eye-catching and negative remarks about the cryptocurrency market, which aroused dissatisfaction among many cryptocurrency users.
In the interview, Gensler reviewed the cryptocurrency regulation work during his tenure, saying that he had supervised 100 cryptocurrency-related enforcement actions since taking office, more than the 80 cases of former Chairman Jay Clayton, mainly targeting fraud, scams and non-compliance with securities laws.
Gensler pointed out that most digital currencies meet securities standards and should be regulated, but many crypto projects do not follow the rules and "play the edge" on the edge of the law, putting investors at risk. He also emphasized that the cryptocurrency market is "full of bad actors" and that in the past few years, intermediaries claiming to be exchanges, brokers or custodians have not complied with securities laws, putting the public at risk.
The former MIT professor expressed doubts about the viability of most cryptocurrencies in the market and believed that many projects would be difficult to sustain. He also pointed out that the cryptocurrency industry is more influenced by emotions than fundamentals, which is the main reason for its volatility.
However, Gensler's words and actions have been criticized by cryptocurrency supporters. Some people, such as Minnesota Congressman Tom Emmer, have previously described his tenure as "the most destructive and lawless in history." Ripple CEO Brad Garlinghouse even described it as a "reign of terror."
Gensler's move also affected the November campaign polls, making candidates who support cryptocurrencies more popular, helping Trump return to the presidency, and promoting the most cryptocurrency-supportive Congress in American history.
In response, he was calm, saying "If you don't want to be criticized, don't participate in policy discussions," and denied that he was anti-cryptocurrency. He mentioned his background in blockchain learning and teaching at MIT to show his interest in this field.
Gensler also made clear his position, saying that as the chairman of the SEC, he is committed to protecting investors and market integrity, focusing on ensuring compliance rather than targeting cryptocurrencies.
What do you think of Gensler's remarks?Is the cryptocurrency market really as bad as he says?
#å åÆ蓧åø #GaryGensler #SEC
SEC Chairman Gary Gensler is about to leave office. In an interview with Bloomberg TV on January 8, he made eye-catching and negative remarks about the cryptocurrency market, which aroused dissatisfaction among many cryptocurrency users.
In the interview, Gensler reviewed the cryptocurrency regulation work during his tenure, saying that he had supervised 100 cryptocurrency-related enforcement actions since taking office, more than the 80 cases of former Chairman Jay Clayton, mainly targeting fraud, scams and non-compliance with securities laws.
Gensler pointed out that most digital currencies meet securities standards and should be regulated, but many crypto projects do not follow the rules and "play the edge" on the edge of the law, putting investors at risk. He also emphasized that the cryptocurrency market is "full of bad actors" and that in the past few years, intermediaries claiming to be exchanges, brokers or custodians have not complied with securities laws, putting the public at risk.
The former MIT professor expressed doubts about the viability of most cryptocurrencies in the market and believed that many projects would be difficult to sustain. He also pointed out that the cryptocurrency industry is more influenced by emotions than fundamentals, which is the main reason for its volatility.
However, Gensler's words and actions have been criticized by cryptocurrency supporters. Some people, such as Minnesota Congressman Tom Emmer, have previously described his tenure as "the most destructive and lawless in history." Ripple CEO Brad Garlinghouse even described it as a "reign of terror."
Gensler's move also affected the November campaign polls, making candidates who support cryptocurrencies more popular, helping Trump return to the presidency, and promoting the most cryptocurrency-supportive Congress in American history.
In response, he was calm, saying "If you don't want to be criticized, don't participate in policy discussions," and denied that he was anti-cryptocurrency. He mentioned his background in blockchain learning and teaching at MIT to show his interest in this field.
Gensler also made clear his position, saying that as the chairman of the SEC, he is committed to protecting investors and market integrity, focusing on ensuring compliance rather than targeting cryptocurrencies.
What do you think of Gensler's remarks?Is the cryptocurrency market really as bad as he says?
#å åÆ蓧åø #GaryGensler #SEC
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SEC vs. Ripple Lawsuit: What to Expect from the Initial Appeal Brief
The U.S. Securities and Exchange Commission (SEC) is preparing to submit its initial appeal brief in the Ripple case. This crucial document, due by January 15, will focus on secondary XRP sales, penalties, and other key issues in the case.
SEC Led by Gary Gensler Prepares for the Appeal
SEC Chair Gary Gensler is set to submit critical documents related to the Ripple case before stepping down on January 20. Legal experts, including Jeremy Hogan and former SEC attorney Marc Fagel, speculate that Ripple and the SEC could reach a settlement. Ripple might pay a $125 million penalty, potentially closing the case by April or May.
Dispute Over Programmatic XRP Sales
The SEC plans to challenge Judge Analisa Torres' July 13 decision regarding programmatic XRP sales. The agency argues that these sales constitute unregistered securities transactions in violation of the Securities Act of 1933. According to Marc Fagel, Ripple allegedly raised over $700 million unlawfully through these sales.
Secondary XRP Sales as a Key Dispute Point
The SEC will focus on secondary XRP sales, including Ripple's transactions on cryptocurrency exchanges, distributions to employees, and personal sales by Ripple executives like Brad Garlinghouse and Chris Larsen. Judge Torres' decision, however, did not clearly define whether XRP is a security or a commodity, which has significant implications for the crypto industry.
It's worth noting that XRP was previously classified as "currency" by the U.S. Department of Justice and the Treasury Department's FinCEN, adding complexity to the SEC's appeal.
Higher Penalty Than $125 Million?
The SEC is likely to push for a penalty higher than $125 million and seek a reassessment of disgorgement (return of illicitly gained funds). The agency argues that smaller penalties may fail to serve as an effective deterrent.
Meanwhile, Ripple has criticized the SEC for pursuing "failed arguments" and wasting taxpayer money. Ripple's Chief Legal Officer Stuart Alderoty has pointed out the SEC's inability to provide clear rules on which digital assets are considered securities.
Whatās Next?
Ripple recently garnered positive attention following a dinner between its executives and President-elect Donald Trump, raising hopes for a more favorable regulatory environment for cryptocurrencies in the U.S. Ripple CEO Brad Garlinghouse noted that 75% of Rippleās jobs are now based in the U.S., and the company has signed several new contracts domestically in recent weeks.
If Ripple secures a victory in the Second Circuit Court, it could set a significant precedent for future cryptocurrency lawsuits. Alternatively, the case could end with a settlement or dismissal under the leadership of incoming SEC Chair Paul Atkins, who may adopt a different regulatory approach to cryptocurrencies.
#SEC , #Ripple , #CryptoNewss , #RippleVsSEC , #xrp
Stay one step ahead ā follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.ā
SEC Led by Gary Gensler Prepares for the Appeal
SEC Chair Gary Gensler is set to submit critical documents related to the Ripple case before stepping down on January 20. Legal experts, including Jeremy Hogan and former SEC attorney Marc Fagel, speculate that Ripple and the SEC could reach a settlement. Ripple might pay a $125 million penalty, potentially closing the case by April or May.
Dispute Over Programmatic XRP Sales
The SEC plans to challenge Judge Analisa Torres' July 13 decision regarding programmatic XRP sales. The agency argues that these sales constitute unregistered securities transactions in violation of the Securities Act of 1933. According to Marc Fagel, Ripple allegedly raised over $700 million unlawfully through these sales.
Secondary XRP Sales as a Key Dispute Point
The SEC will focus on secondary XRP sales, including Ripple's transactions on cryptocurrency exchanges, distributions to employees, and personal sales by Ripple executives like Brad Garlinghouse and Chris Larsen. Judge Torres' decision, however, did not clearly define whether XRP is a security or a commodity, which has significant implications for the crypto industry.
It's worth noting that XRP was previously classified as "currency" by the U.S. Department of Justice and the Treasury Department's FinCEN, adding complexity to the SEC's appeal.
Higher Penalty Than $125 Million?
The SEC is likely to push for a penalty higher than $125 million and seek a reassessment of disgorgement (return of illicitly gained funds). The agency argues that smaller penalties may fail to serve as an effective deterrent.
Meanwhile, Ripple has criticized the SEC for pursuing "failed arguments" and wasting taxpayer money. Ripple's Chief Legal Officer Stuart Alderoty has pointed out the SEC's inability to provide clear rules on which digital assets are considered securities.
Whatās Next?
Ripple recently garnered positive attention following a dinner between its executives and President-elect Donald Trump, raising hopes for a more favorable regulatory environment for cryptocurrencies in the U.S. Ripple CEO Brad Garlinghouse noted that 75% of Rippleās jobs are now based in the U.S., and the company has signed several new contracts domestically in recent weeks.
If Ripple secures a victory in the Second Circuit Court, it could set a significant precedent for future cryptocurrency lawsuits. Alternatively, the case could end with a settlement or dismissal under the leadership of incoming SEC Chair Paul Atkins, who may adopt a different regulatory approach to cryptocurrencies.
#SEC , #Ripple , #CryptoNewss , #RippleVsSEC , #xrp
Stay one step ahead ā follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.ā
XRP Lawyer Asks SEC to Release Important Report
John Deaton, a lawyer for XRP holders, wants SEC Chair Gary Gensler to release the Hinman report in 10 days.
The report is about a 2018 speech where an SEC official said Ethereum was not a security, raising questions about fairness.
Deaton, speaking for 75,000 XRP holders, says the public deserves to see the report. Heās asking others to join him in pushing the SEC for answers.
Will the SEC act before Gensler leaves on January 20?
Time is running out!
$XRP
$ETH
#CryptoMarketDip
#Xrpš„š„ #SEC #XRPPredictions
John Deaton, a lawyer for XRP holders, wants SEC Chair Gary Gensler to release the Hinman report in 10 days.
The report is about a 2018 speech where an SEC official said Ethereum was not a security, raising questions about fairness.
Deaton, speaking for 75,000 XRP holders, says the public deserves to see the report. Heās asking others to join him in pushing the SEC for answers.
Will the SEC act before Gensler leaves on January 20?
Time is running out!
$XRP
$ETH
#CryptoMarketDip
#Xrpš„š„ #SEC #XRPPredictions
š Oklahoma Senator Introduces Game-Changing Bitcoin Freedom Act š¤
$BTC fans, rejoice! Oklahoma is making bold moves š„. Republican Senator Dusty Deevers just dropped a bombshell: the Bitcoin Freedom Act. This groundbreaking legislation could let employees and residents choose to receive their salaries in Bitcoin šŖ and give vendors the green light to accept BTC payments.
āIn a time when inflation is crushing the purchasing power of hardworking Oklahomans šø, Bitcoin offers a unique way to protect earnings and investments,ā said Deevers as he unveiled the bill on Jan. 8. He didnāt hold back, warning that the dollarās value is being printed into oblivion in Washington D.C. āOklahoma must act to protect our people,ā he declared.
The bill, officially titled SB325, is all about freedom š. Deevers emphasized that participation would be completely voluntary, respecting free-market principles while empowering individuals and businesses to decide how they get paid or pay others š¼. Itās not just about moneyāitās about giving Oklahomans more control over their financial futures.
Whatās the goal? The legislation aims to create a secure framework for Bitcoin use statewide š. This includes transactions, salaries, and even investments. Deevers says Oklahoma has the chance to step into a national leadership role, embracing the future of financial technology while boosting financial options for its citizens š.
Bitcoiners, this could be huge. Oklahoma is setting the stage for a crypto revolution š§Ø, and if this bill passes, it might inspire other states to follow suit. Stay tunedā2025 is already shaping up to be a wild year for Bitcoin adoption š„!
#bitcoin #USA #SEC #freedomact
āIn a time when inflation is crushing the purchasing power of hardworking Oklahomans šø, Bitcoin offers a unique way to protect earnings and investments,ā said Deevers as he unveiled the bill on Jan. 8. He didnāt hold back, warning that the dollarās value is being printed into oblivion in Washington D.C. āOklahoma must act to protect our people,ā he declared.
The bill, officially titled SB325, is all about freedom š. Deevers emphasized that participation would be completely voluntary, respecting free-market principles while empowering individuals and businesses to decide how they get paid or pay others š¼. Itās not just about moneyāitās about giving Oklahomans more control over their financial futures.
Whatās the goal? The legislation aims to create a secure framework for Bitcoin use statewide š. This includes transactions, salaries, and even investments. Deevers says Oklahoma has the chance to step into a national leadership role, embracing the future of financial technology while boosting financial options for its citizens š.
Bitcoiners, this could be huge. Oklahoma is setting the stage for a crypto revolution š§Ø, and if this bill passes, it might inspire other states to follow suit. Stay tunedā2025 is already shaping up to be a wild year for Bitcoin adoption š„!
#bitcoin #USA #SEC #freedomact
šØ: CHAIRMAN HILL ANNOUNCES VICE CHAIR, SUBCOMMITTEE CHAIRS, AND OTHER KEY POSITIONS OF THE HOUSE FINANCIAL SERVICES COMMITTEE
House Financial Services Committee Chairman French Hill (AR-02) today announced the House Financial Services Committeeās Vice Chairman, Subcommittees Chairs, Vice Chair for Communications, and Committee Whip for the 119th Congress.
āThe House Financial Services Committee Republicans are ready to deliver for the American people on day one," said Chairman Hill. "This experienced leadership team will drive our policy agenda. Together, we will right-size the regulatory system for particularly community banks, create a regulatory framework for digital assets that will protect investors and consumers while keeping innovation in America, and ensure agencies are focused on their core statutory directed missions and not political agendas that we have seen from many of the Biden-Harris agency leads.
āI am pleased to announce that the House Financial Services Committee will also have a Committee Vice Chair for Communications and a Committee Whip. Our Committee Vice Chair for Communications will lead the design of our internal and external communications strategy for Committee Republican wins and our Committee Whip will ensure our Republicans are working together toward our common goal. I am confident this Committee leadership team will be excellent drivers of our policy agenda and am honored to have each of these talented members who represent the wide expertise of our Republican Conference beside me as we start our important work of this Committee.ā
Committee Vice Chairman:
Rep. Bill Huizenga (MI-04)
Committee Whip:
Rep. Mike Haridopolos (FL-08)
Committee Vice Chair for Communications:
Rep. Mike Lawler (NY-17)
Subcommittee Chairs:
Subcommittee on Capital Markets:
Chair - Rep. Ann Wagner (MO-02)
Subcommittee on Financial Institutions:
Chair - Rep. Andy Barr (KY-06)
Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence:
Chair - Rep. Bryan Steil (WI-01)
#SEC $XRP
House Financial Services Committee Chairman French Hill (AR-02) today announced the House Financial Services Committeeās Vice Chairman, Subcommittees Chairs, Vice Chair for Communications, and Committee Whip for the 119th Congress.
āThe House Financial Services Committee Republicans are ready to deliver for the American people on day one," said Chairman Hill. "This experienced leadership team will drive our policy agenda. Together, we will right-size the regulatory system for particularly community banks, create a regulatory framework for digital assets that will protect investors and consumers while keeping innovation in America, and ensure agencies are focused on their core statutory directed missions and not political agendas that we have seen from many of the Biden-Harris agency leads.
āI am pleased to announce that the House Financial Services Committee will also have a Committee Vice Chair for Communications and a Committee Whip. Our Committee Vice Chair for Communications will lead the design of our internal and external communications strategy for Committee Republican wins and our Committee Whip will ensure our Republicans are working together toward our common goal. I am confident this Committee leadership team will be excellent drivers of our policy agenda and am honored to have each of these talented members who represent the wide expertise of our Republican Conference beside me as we start our important work of this Committee.ā
Committee Vice Chairman:
Rep. Bill Huizenga (MI-04)
Committee Whip:
Rep. Mike Haridopolos (FL-08)
Committee Vice Chair for Communications:
Rep. Mike Lawler (NY-17)
Subcommittee Chairs:
Subcommittee on Capital Markets:
Chair - Rep. Ann Wagner (MO-02)
Subcommittee on Financial Institutions:
Chair - Rep. Andy Barr (KY-06)
Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence:
Chair - Rep. Bryan Steil (WI-01)
#SEC $XRP
Crypto Regulation to Shift as Gensler Departs SEC
Gensler highlighted the risks in the crypto space, including its dependence on market sentiment. With his exit, Paul Atkins is set to introduce a more relaxed approach to crypto regulation.
#SEC #SECInvestigation #BTCā $BTC
Gensler highlighted the risks in the crypto space, including its dependence on market sentiment. With his exit, Paul Atkins is set to introduce a more relaxed approach to crypto regulation.
#SEC #SECInvestigation #BTCā $BTC
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Crypto Industry Criticizes Outgoing SEC Chairman Gary Gensler for "Arrogance"
Hi! I want to tell you about the situation around Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), who is leaving his post soon. His actions have caused a wave of indignation in the crypto community, and his departure is being actively discussed by both supporters and critics.
Why is Gensler being criticized?
Gensler is known for his tough stance on cryptocurrencies. In a recent interview, he stated that the crypto industry is "full" of unscrupulous participants and is overly speculative. His words and actions aimed at strengthening regulation caused a wave of discontent in the crypto community.
What did Gensler do?
During his leadership of the SEC, Gensler:
He has initiated almost 100 lawsuits against crypto companies.
He calls this a continuation of the work of his predecessor Jay Clayton, who launched 80 cases against the crypto industry.
Filed lawsuits against major players such as Binance and Coinbase.
These cases have cost the crypto industry more than $400 million in legal fees.
He accused the crypto industry of insufficient foundation.
Gensler compared crypto projects to high-risk startups, stating that their value depends more on market sentiment than on fundamental factors.
The reaction of the crypto community
Gensler's speeches drew sharp criticism from industry leaders.:
Paul Grewal, Coinbase's general counsel, called his actions "arrogant" and blamed the political defeat of the current administration in key states.
Bill Morgan, a lawyer and proponent of cryptocurrencies, went even further, saying that the SEC itself is "full of unscrupulous individuals."
These comments highlight the tension between the crypto community and the SEC, which has escalated under Gensler's leadership.
Why is the industry unhappy?
Difficulties for companies:
Many crypto companies have come under pressure due to expensive lawsuits.
Lack of dialogue:
Critics claim that Gensler did not seek compromises and ignored the needs of the crypto industry.
Blow to innovation:
Increased regulatory pressure, according to crypto experts, may slow down the development of new technologies and startups in the United States.
What's next?
Gary Gensler will step down as chairman of the SEC on January 20. His departure creates the opportunity for a new approach to regulating the crypto industry.
The question is who will take his place and whether the SEC will continue to take a hard line or meet the crypto industry halfway.
Gary Gensler's story is a clear example of the conflict between traditional regulators and a new, fastāgrowing industry. Do you think the new leadership will be able to find a balance between protecting investors and supporting innovation?
#crypto #SEC
Why is Gensler being criticized?
Gensler is known for his tough stance on cryptocurrencies. In a recent interview, he stated that the crypto industry is "full" of unscrupulous participants and is overly speculative. His words and actions aimed at strengthening regulation caused a wave of discontent in the crypto community.
What did Gensler do?
During his leadership of the SEC, Gensler:
He has initiated almost 100 lawsuits against crypto companies.
He calls this a continuation of the work of his predecessor Jay Clayton, who launched 80 cases against the crypto industry.
Filed lawsuits against major players such as Binance and Coinbase.
These cases have cost the crypto industry more than $400 million in legal fees.
He accused the crypto industry of insufficient foundation.
Gensler compared crypto projects to high-risk startups, stating that their value depends more on market sentiment than on fundamental factors.
The reaction of the crypto community
Gensler's speeches drew sharp criticism from industry leaders.:
Paul Grewal, Coinbase's general counsel, called his actions "arrogant" and blamed the political defeat of the current administration in key states.
Bill Morgan, a lawyer and proponent of cryptocurrencies, went even further, saying that the SEC itself is "full of unscrupulous individuals."
These comments highlight the tension between the crypto community and the SEC, which has escalated under Gensler's leadership.
Why is the industry unhappy?
Difficulties for companies:
Many crypto companies have come under pressure due to expensive lawsuits.
Lack of dialogue:
Critics claim that Gensler did not seek compromises and ignored the needs of the crypto industry.
Blow to innovation:
Increased regulatory pressure, according to crypto experts, may slow down the development of new technologies and startups in the United States.
What's next?
Gary Gensler will step down as chairman of the SEC on January 20. His departure creates the opportunity for a new approach to regulating the crypto industry.
The question is who will take his place and whether the SEC will continue to take a hard line or meet the crypto industry halfway.
Gary Gensler's story is a clear example of the conflict between traditional regulators and a new, fastāgrowing industry. Do you think the new leadership will be able to find a balance between protecting investors and supporting innovation?
#crypto #SEC
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Bryan Steil Takes Charge of Leading US Digital Asset Subcommittee: Expectations for New Regulatory Framework
The U.S. House of Representatives announced on January 9, 2025 that it has appointed Representative Bryan Steil of Wisconsin to head the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, succeeding French Hill of Arkansas. The Subcommittee will prioritize the development of a legal framework for digital assets in 2025.
Bryan Steil, a member of the House of Representatives since 2019 and the new head of the subcommittee, is known for his criticism of the US Securities and Exchange Commissionās (SEC) approach to cryptocurrencies. He argues that the SEC has failed to provide a clear regulatory framework, putting US investors at risk. Steil specifically noted that the lack of specific guidance from the SEC has increased ambiguity and uncertainty in the cryptocurrency market, creating conditions for legal and financial risks.
Bryan Steil, a member of the House of Representatives since 2019 and the new head of the subcommittee, is known for his criticism of the US Securities and Exchange Commissionās (SEC) approach to cryptocurrencies. He argues that the SEC has failed to provide a clear regulatory framework, putting US investors at risk. Steil specifically noted that the lack of specific guidance from the SEC has increased ambiguity and uncertainty in the cryptocurrency market, creating conditions for legal and financial risks.
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šØXRP NEWS TODAY š„
šØ IF YOU HAVE 1 XRP, YOU NEED TO KNOW THIS ASAP! š $XRP ARE YOU READY TO EXIT?
XRP holders, pay close attention ā things are heating up in the market, and this could be the breakout moment weāve all been waiting for! Hereās what you need to know:
š Main developments:
1ļøā£ Growing institutional adoption: Recent reports suggest that major financial institutions are increasing their adoption of RippleNet and XRP for cross-border payments. This could mean a significant increase in demand for XRP tokens!
XRP holders, pay close attention ā things are heating up in the market, and this could be the breakout moment weāve all been waiting for! Hereās what you need to know:
š Main developments:
1ļøā£ Growing institutional adoption: Recent reports suggest that major financial institutions are increasing their adoption of RippleNet and XRP for cross-border payments. This could mean a significant increase in demand for XRP tokens!
Artsan lSrL:
NĆ£o Ć© melhor mudar de: Das para: Nas?
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Gary Gensler Slams Crypto Industry in Final Days of SEC Term
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), continued to deliver strong criticism of the crypto industry in his farewell interview before leaving office on January 20.
Crypto Industry: āLack of Foundation, Full of Emotionsā
In an interview with #Bloomberg on Wednesday, Gensler described the crypto industry as āfull of bad actorsā and even hinted that the nature of blockchain technology could be illegal.
Crypto Industry: āLack of Foundation, Full of Emotionsā
In an interview with #Bloomberg on Wednesday, Gensler described the crypto industry as āfull of bad actorsā and even hinted that the nature of blockchain technology could be illegal.
#SEC #Gensler
Gary Genslerās Legacy: Progress or Setback for Crypto? šØ
As his tenure nears its end, outgoing SEC Chair Gary Gensler reflected on his term during an interview with Bloomberg. While expressing pride in the SECās accomplishments, Gensler doubled down on his view that the cryptocurrency sector is rife with bad actors. He also emphasized that āmuch work remainsā in regulating the space.
Under Genslerās leadership, the SEC launched a wave of enforcement actions against crypto firms, targeting everything from ICOs to exchanges. While he claims these efforts were necessary to root out fraud and protect investors, many argue that his actions created major roadblocks for crypto adoption:
š¹ Stifling Innovation: Strict enforcement and regulatory ambiguity drove companies and developers out of the U.S., favoring crypto-friendly jurisdictions abroad.
š¹ Missed Opportunities: Critics say the SEC failed to develop clear guidelines for the crypto industry, leaving legitimate projects uncertain about compliance.
š¹ Investor Impact: Retail investors were left with fewer options as exchanges faced lawsuits and delistings, restricting access to innovation.
Although Gensler credits his efforts as building on the work of previous SEC chairs, the crypto community remains divided. Some applaud his tough stance on bad actors, while others blame him for stalling the growth of blockchain technology in the U.S. #Binance #BinanceSquareFamily #cryptopofficial
Gary Genslerās Legacy: Progress or Setback for Crypto? šØ
As his tenure nears its end, outgoing SEC Chair Gary Gensler reflected on his term during an interview with Bloomberg. While expressing pride in the SECās accomplishments, Gensler doubled down on his view that the cryptocurrency sector is rife with bad actors. He also emphasized that āmuch work remainsā in regulating the space.
Under Genslerās leadership, the SEC launched a wave of enforcement actions against crypto firms, targeting everything from ICOs to exchanges. While he claims these efforts were necessary to root out fraud and protect investors, many argue that his actions created major roadblocks for crypto adoption:
š¹ Stifling Innovation: Strict enforcement and regulatory ambiguity drove companies and developers out of the U.S., favoring crypto-friendly jurisdictions abroad.
š¹ Missed Opportunities: Critics say the SEC failed to develop clear guidelines for the crypto industry, leaving legitimate projects uncertain about compliance.
š¹ Investor Impact: Retail investors were left with fewer options as exchanges faced lawsuits and delistings, restricting access to innovation.
Although Gensler credits his efforts as building on the work of previous SEC chairs, the crypto community remains divided. Some applaud his tough stance on bad actors, while others blame him for stalling the growth of blockchain technology in the U.S. #Binance #BinanceSquareFamily #cryptopofficial
Portia Myott zyie:
Amazing picš
šØ SEC Chair Highlights Compliance Issues in the Crypto Sector šØ
According to Foresight News, SEC Chair Gary Gensler recently emphasized in an interview that the cryptocurrency sector faces significant challenges, describing it as rife with "bad actors" and largely "non-compliant."
š Key Points:
šø Market Sentiment vs. Fundamentals: Gensler highlighted that market sentiment often overshadows fundamentals in the crypto space.
šø Bitcoin Dominance: Bitcoin accounts for 60% to 80% of the marketās value, but the 10,000ā15,000 other crypto projects face issues like pump-and-dump schemes and instability.
šø SEC Enforcement Actions: Over the past four years, the SEC has launched approximately 100 enforcement actions in the crypto space, constituting 5% of its overall enforcement efforts.
šø Regulation Progress: Gensler acknowledged some progress in regulating the sector, continuing efforts initiated by his predecessor, Jay Clayton.
ā³ What's Next?
Gensler is set to step down as SEC Chair on January 20, marking the end of his tenure as the crypto industry faces increasing scrutiny.
š¬ Your Thoughts: Is crypto regulation headed in the right direction, or does it need a different approach?
#SEC š #CryptoRegulation āļø #BTC #CryptoCompliance š”
$BTC
According to Foresight News, SEC Chair Gary Gensler recently emphasized in an interview that the cryptocurrency sector faces significant challenges, describing it as rife with "bad actors" and largely "non-compliant."
š Key Points:
šø Market Sentiment vs. Fundamentals: Gensler highlighted that market sentiment often overshadows fundamentals in the crypto space.
šø Bitcoin Dominance: Bitcoin accounts for 60% to 80% of the marketās value, but the 10,000ā15,000 other crypto projects face issues like pump-and-dump schemes and instability.
šø SEC Enforcement Actions: Over the past four years, the SEC has launched approximately 100 enforcement actions in the crypto space, constituting 5% of its overall enforcement efforts.
šø Regulation Progress: Gensler acknowledged some progress in regulating the sector, continuing efforts initiated by his predecessor, Jay Clayton.
ā³ What's Next?
Gensler is set to step down as SEC Chair on January 20, marking the end of his tenure as the crypto industry faces increasing scrutiny.
š¬ Your Thoughts: Is crypto regulation headed in the right direction, or does it need a different approach?
#SEC š #CryptoRegulation āļø #BTC #CryptoCompliance š”
$BTC
ā
Wednesday News:
āļø Media: Trump is considering declaring a state of economic emergency in the country.
āļø MicroStrategy plans to raise $2 billion in Q1 to buy more BTC. On January 6, the company purchased another 1,070 BTC ($101 million). šø
āļø China aims to implement blockchain technologies to establish a national data infrastructure by 2029.
āļø Authorities in Kazakhstan have blocked 3,500 crypto exchanges.
āļø Ripple's CEO met with Donald Trump.
āļø A New York court has paused the SEC's lawsuit against Coinbase.
āļø The CEOs of Apple, Amazon, Meta, and OpenAI donated $1 million each to Trumpās inauguration.
āļø In 2025, Microsoft plans to invest $80 billion in data centers.
āļø In Phuket, Thailand, tourists may soon be allowed to pay with cryptocurrency. š
āļø Starlink and airBaltic tested their first flight with high-speed internet.
āļø Pyth Network announced a partnership with online bank Revolut.
#Trump #news #MicroStrategy #SEC #openai $BTC
āļø Media: Trump is considering declaring a state of economic emergency in the country.
āļø MicroStrategy plans to raise $2 billion in Q1 to buy more BTC. On January 6, the company purchased another 1,070 BTC ($101 million). šø
āļø China aims to implement blockchain technologies to establish a national data infrastructure by 2029.
āļø Authorities in Kazakhstan have blocked 3,500 crypto exchanges.
āļø Ripple's CEO met with Donald Trump.
āļø A New York court has paused the SEC's lawsuit against Coinbase.
āļø The CEOs of Apple, Amazon, Meta, and OpenAI donated $1 million each to Trumpās inauguration.
āļø In 2025, Microsoft plans to invest $80 billion in data centers.
āļø In Phuket, Thailand, tourists may soon be allowed to pay with cryptocurrency. š
āļø Starlink and airBaltic tested their first flight with high-speed internet.
āļø Pyth Network announced a partnership with online bank Revolut.
#Trump #news #MicroStrategy #SEC #openai $BTC
Coinbase wins court approval to appeal key legal questions in its SEC battle
Coinbase wins court approval to appeal key legal questions in its SEC battle
Coinbase has achieved a major legal win against the SEC, receiving permission to appeal crucial legal questions to a higher court.
On January 7, District Judge Katherine Polk Failla paused the case, allowing Coinbase to clarify whether certain digital assets on its platform are considered securities and if these transactions require an investment contract under the Howey test.
The appeal centers on Coinbaseās claim that the tokens listed on its exchange do not fit the legal definition of securities.
The company argues that token issuers have no obligations to buyers, which is a key requirement of the Howey test. Judge Failla noted that this legal issue could have varying interpretations, and resolving it could simplify the case.
Paul Grewal, Coinbaseās Chief Legal Officer, welcomed the courtās decision, stating that the case will now move to the Second Circuit. This pause halts further litigation in the district court until the appeal is resolved.
This development comes at a time of change for U.S. crypto regulations. With President-elect Donald Trumpās administration, there may be a shift in crypto policy.
Under Gary Gensler, the SEC took a tough stance against crypto platforms, including Coinbase. However, Paul Atkins, expected to lead the SEC under the new administration, might focus less on enforcement actions initiated by Gensler.
The SEC filed its lawsuit against Coinbase in 2023, claiming that at least 13 tokens traded should have been registered as securities. While some claims were dismissed, Coinbase criticized the SEC for approving its public listing while later questioning its operations.
In addition to the legal battle, Coinbase secured a license from New York regulators, allowing it to launch new products for residents. The company has also raised concerns about federal efforts to limit banksā interactions with crypto businesses, labeled as āOperation Chokepoint 2.0.ā
Congress is considering new legislation to clarify rules for digital assets, with industry leaders advocating for balanced regulations. The outcome of Coinbaseās case could set important precedents for the U.S. crypto industry and influence future regulations.
#Coinbase #SEC #Bitcoin #cryptomarket #Cryptonews
Coinbase has achieved a major legal win against the SEC, receiving permission to appeal crucial legal questions to a higher court.
On January 7, District Judge Katherine Polk Failla paused the case, allowing Coinbase to clarify whether certain digital assets on its platform are considered securities and if these transactions require an investment contract under the Howey test.
The appeal centers on Coinbaseās claim that the tokens listed on its exchange do not fit the legal definition of securities.
The company argues that token issuers have no obligations to buyers, which is a key requirement of the Howey test. Judge Failla noted that this legal issue could have varying interpretations, and resolving it could simplify the case.
Paul Grewal, Coinbaseās Chief Legal Officer, welcomed the courtās decision, stating that the case will now move to the Second Circuit. This pause halts further litigation in the district court until the appeal is resolved.
This development comes at a time of change for U.S. crypto regulations. With President-elect Donald Trumpās administration, there may be a shift in crypto policy.
Under Gary Gensler, the SEC took a tough stance against crypto platforms, including Coinbase. However, Paul Atkins, expected to lead the SEC under the new administration, might focus less on enforcement actions initiated by Gensler.
The SEC filed its lawsuit against Coinbase in 2023, claiming that at least 13 tokens traded should have been registered as securities. While some claims were dismissed, Coinbase criticized the SEC for approving its public listing while later questioning its operations.
In addition to the legal battle, Coinbase secured a license from New York regulators, allowing it to launch new products for residents. The company has also raised concerns about federal efforts to limit banksā interactions with crypto businesses, labeled as āOperation Chokepoint 2.0.ā
Congress is considering new legislation to clarify rules for digital assets, with industry leaders advocating for balanced regulations. The outcome of Coinbaseās case could set important precedents for the U.S. crypto industry and influence future regulations.
#Coinbase #SEC #Bitcoin #cryptomarket #Cryptonews
Coinbase wins court approval to appeal key legal questions in its SEC battle
Coinbase has achieved a major legal win against the SEC, receiving permission to appeal crucial legal questions to a higher court.
On January 7, District Judge Katherine Polk Failla paused the case, allowing Coinbase to clarify whether certain digital assets on its platform are considered securities and if these transactions require an investment contract under the Howey test.
The appeal centers on Coinbaseās claim that the tokens listed on its exchange do not fit the legal definition of securities.
The company argues that token issuers have no obligations to buyers, which is a key requirement of the Howey test. Judge Failla noted that this legal issue could have varying interpretations, and resolving it could simplify the case.
Paul Grewal, Coinbaseās Chief Legal Officer, welcomed the courtās decision, stating that the case will now move to the Second Circuit. This pause halts further litigation in the district court until the appeal is resolved.
This development comes at a time of change for U.S. crypto regulations. With President-elect Donald Trumpās administration, there may be a shift in crypto policy.
Under Gary Gensler, the SEC took a tough stance against crypto platforms, including Coinbase. However, Paul Atkins, expected to lead the SEC under the new administration, might focus less on enforcement actions initiated by Gensler.
The SEC filed its lawsuit against Coinbase in 2023, claiming that at least 13 tokens traded should have been registered as securities. While some claims were dismissed, Coinbase criticized the SEC for approving its public listing while later questioning its operations.
In addition to the legal battle, Coinbase secured a license from New York regulators, allowing it to launch new products for residents.
The company has also raised concerns about federal efforts to limit banksā interactions with crypto businesses, labeled as āOperation Chokepoint 2.0.ā
#Coinbase #SEC #Bitcoin #cryptomarket #Cryptonews
Coinbase has achieved a major legal win against the SEC, receiving permission to appeal crucial legal questions to a higher court.
On January 7, District Judge Katherine Polk Failla paused the case, allowing Coinbase to clarify whether certain digital assets on its platform are considered securities and if these transactions require an investment contract under the Howey test.
The appeal centers on Coinbaseās claim that the tokens listed on its exchange do not fit the legal definition of securities.
The company argues that token issuers have no obligations to buyers, which is a key requirement of the Howey test. Judge Failla noted that this legal issue could have varying interpretations, and resolving it could simplify the case.
Paul Grewal, Coinbaseās Chief Legal Officer, welcomed the courtās decision, stating that the case will now move to the Second Circuit. This pause halts further litigation in the district court until the appeal is resolved.
This development comes at a time of change for U.S. crypto regulations. With President-elect Donald Trumpās administration, there may be a shift in crypto policy.
Under Gary Gensler, the SEC took a tough stance against crypto platforms, including Coinbase. However, Paul Atkins, expected to lead the SEC under the new administration, might focus less on enforcement actions initiated by Gensler.
The SEC filed its lawsuit against Coinbase in 2023, claiming that at least 13 tokens traded should have been registered as securities. While some claims were dismissed, Coinbase criticized the SEC for approving its public listing while later questioning its operations.
In addition to the legal battle, Coinbase secured a license from New York regulators, allowing it to launch new products for residents.
The company has also raised concerns about federal efforts to limit banksā interactions with crypto businesses, labeled as āOperation Chokepoint 2.0.ā
#Coinbase #SEC #Bitcoin #cryptomarket #Cryptonews
In 2 days the cryptocurrency market loses more than 300 billion and people are scared. In this mess, ETFs take advantage by buying $BTC and $ETH . #Bitcoin on Google tends rise as its dominance regains 2 percentage points. Altcoins lose ground. Waiting for the #SEC speech, more blood on the #CryptoMarket ?
#squarecreator
#squarecreator
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Crypto Gets a Breath of Fresh Air as Anti-Crypto Officials Resign
The resignation of Michael Barr and other top leaders is opening up new opportunities for the crypto industry in the US, especially as Donald Trump's pro-crypto administration is about to take office.
Michael Barr Resigns: A Positive Sign For Crypto
Michael Barr, Vice Chairman for Supervision of the US Federal Reserve (#Fed ), has announced that he will leave his position on February 28. The decision comes amid the politicization of senior leadership positions at financial regulators, as President-elect Donald Trump prepares to take office.
Michael Barr Resigns: A Positive Sign For Crypto
Michael Barr, Vice Chairman for Supervision of the US Federal Reserve (#Fed ), has announced that he will leave his position on February 28. The decision comes amid the politicization of senior leadership positions at financial regulators, as President-elect Donald Trump prepares to take office.
Pro-XRP Lawyer: SEC Likely to File an Appeal, But Stay Calm
Approaching Deadline for SECās Appeal
With the January 15 deadline for the U.S. Securities and Exchange Commission (SEC) to file its appeal fast approaching, tensions are rising within the crypto community. However, according to a legal expert, the SEC is likely to stay the course and submit the appeal as expected.
The SEC surprised the crypto world when it appealed the decision made by Judge Analisa Torres on August 7 in its case against Ripple. The initial appeal was filed on October 2, followed by the submission of Form C 15 days later.
Originally, the SEC had 91 days to prepare its main brief, but in late October 2024, it requested an extension until January 15. The court granted this request, providing the regulator with additional time to prepare its case.
Legal Expert Predicts SEC Will File an Appeal
Jeremy Hogan, a well-known pro-XRP lawyer, expressed his belief that the SEC will indeed file its appeal. According to him, the regulator may focus on issues such as the sale of XRP on exchanges, the distribution of XRP to Ripple employees, and the sale of XRP by co-founder Chris Larsen and CEO Brad Garlinghouse.
Hogan emphasized that the current administration, led by Gary Gensler, remains in power, which increases the likelihood of the appeal being filed. At the same time, he urged the crypto community to remain calm, noting that the appeal itself will not alter the outcome of the case.
Possibility of Settling the Case
Hogan suggested that the case could still be settled even after a leadership change at the SEC, which is expected to occur five days after the deadline. The lawyer believes the new administration might prefer to reach a settlement or even drop the case entirely.
On August 7, 2024, a partial settlement between Ripple and the SEC was reached, including a $125 million resolution. A similar agreement could be revisited if the SEC decides to pursue a settlement.
Expectations for XRP Price Growth
Analysts predict that a potential settlement could have a positive impact on XRPās price. Reports suggest that the assetās value could rise by as much as 66%, echoing the price movement seen after the August ruling. If a deal is reached, it could lead to significant appreciation of XRP in the market.
The SEC and Ripple remain at the center of attention, with decisions in the coming weeks potentially having far-reaching implications not only for XRP but for the entire crypto sector.
#SEC , #Ripple , #xrp , #CryptoNewss , #CryptoNewsCommunity
Stay one step ahead ā follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.ā
With the January 15 deadline for the U.S. Securities and Exchange Commission (SEC) to file its appeal fast approaching, tensions are rising within the crypto community. However, according to a legal expert, the SEC is likely to stay the course and submit the appeal as expected.
The SEC surprised the crypto world when it appealed the decision made by Judge Analisa Torres on August 7 in its case against Ripple. The initial appeal was filed on October 2, followed by the submission of Form C 15 days later.
Originally, the SEC had 91 days to prepare its main brief, but in late October 2024, it requested an extension until January 15. The court granted this request, providing the regulator with additional time to prepare its case.
Legal Expert Predicts SEC Will File an Appeal
Jeremy Hogan, a well-known pro-XRP lawyer, expressed his belief that the SEC will indeed file its appeal. According to him, the regulator may focus on issues such as the sale of XRP on exchanges, the distribution of XRP to Ripple employees, and the sale of XRP by co-founder Chris Larsen and CEO Brad Garlinghouse.
Hogan emphasized that the current administration, led by Gary Gensler, remains in power, which increases the likelihood of the appeal being filed. At the same time, he urged the crypto community to remain calm, noting that the appeal itself will not alter the outcome of the case.
Possibility of Settling the Case
Hogan suggested that the case could still be settled even after a leadership change at the SEC, which is expected to occur five days after the deadline. The lawyer believes the new administration might prefer to reach a settlement or even drop the case entirely.
On August 7, 2024, a partial settlement between Ripple and the SEC was reached, including a $125 million resolution. A similar agreement could be revisited if the SEC decides to pursue a settlement.
Expectations for XRP Price Growth
Analysts predict that a potential settlement could have a positive impact on XRPās price. Reports suggest that the assetās value could rise by as much as 66%, echoing the price movement seen after the August ruling. If a deal is reached, it could lead to significant appreciation of XRP in the market.
The SEC and Ripple remain at the center of attention, with decisions in the coming weeks potentially having far-reaching implications not only for XRP but for the entire crypto sector.
#SEC , #Ripple , #xrp , #CryptoNewss , #CryptoNewsCommunity
Stay one step ahead ā follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.ā