Gary Gensler, chairman of US Securities and Exchange Commission is notoriously known for his stance against crypto, "was" actually a supporter of blockchain. He is a Prof, and did teach about blockchain and money in Massachusetts Institute of Technologyduring 2018-2021. All of his lessons can still be found on Youtube, and it has been attacting millions of views !
Eventhough many accused him of hindering growth of crypto market, Gensler actually promoted its development. Duting his reign as chair of SEC, he has contributed to crypto space:
1. Approved first-time ever Bitcoin ETF, which has been turned down for the past 10 years.
2. Approved first-time ever ETH ETF in the same year.
3. Prosecuted crypto criminals and bring them into justice: FTX with Sam, ...
4. Many crypto bills in Congress are being voted on after years of silence.
He has done great achivements during his work. What do you think about him ? Comment below 👇👇👇
#Write&Earn #GaryGensler #SECCryptoRule
#ETHETFsApproved #discussion

In a press conference on March 15th, Chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler stated that tokens utilizing staking protocols are securities under U.S. law and therefore fall under the jurisdiction of his agency.

Gensler explained that securities laws may be triggered in this case because investors are expecting profits when purchasing tokens under the Proof-of-Stake mechanism. He emphasized that any promotion of a protocol and locking up tokens within the protocol must comply with regulations, similar to intermediaries.

This statement comes after the SEC’s vote to push three new rules to tighten cybersecurity, consumer privacy rights, and system standards for the securities industry, including digital asset areas.

Since Ethereum’s transition to The Merge, Gensler believes that all Ethereum transactions fall under U.S. jurisdiction and views staking ETH as a security investment contract. However, he has repeatedly excluded this possibility for Bitcoin.

The securities argument has been frequently used by the agency in recent legal actions, including former CEO Sam Bankman-Fried and FTX’s FTT token, Do Kwon and Terraform Labs, hacker Mango Markets’ Avraham Eisenberg and MNGO token, Kraken’s staking service, lending service Genesis and Gemini exchange, Paxos and Binance’s BUSD stablecoin, investment platform Voyager, and Binance.US exchange.

Previously, the leader of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, had a “different” view, considering most stablecoins as commodities and Ethereum not a security.

On the other hand, New York Attorney General (NYAG) Letitia James accused Ethereum of being an unregistered security, and its creators, including Vitalik Buterin, have not complied with federal law in the lawsuit against KuCoin exchange on March 9th.

Despite the differing opinions between Gensler and Behnam, the NYAG lawsuit is the first time a regulatory agency has made an official statement about Ethereum in court.

#SEC #GaryGensler #ETH

This article was republished from azcoinnews.com

The U.S. Securities and Exchange Commission’s former head of internet enforcement, a crypto skeptic, now believes that the SEC is likely to approve a spot bitcoin exchange-traded fund (ETF). He further expressed that “the legacy of SEC Chair Gary Gensler could be the approval of a spot bitcoin ETF,” emphasizing: “That is a mammoth victory for big crypto.”
Stark Now Expects SEC to Approve Spot Bitcoin ETF
Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark now believes that the securities regulator is likely to approve a spot bitcoin exchange-traded fund (ETF). Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years.
This week, the SEC reportedly made “rare” calls to spot bitcoin ETF filers regarding their applications. Fox Business journalist Eleanor Terrett shared on social media platform X Thursday: “Sources that were on the call tell me it was to do with making sure everyone is doing cash creates. The SEC asked issuers to remove all hints of in-kind redemptions from their filings.”
Commenting on Terrett’s statement, Stark opined on X Friday: “Interesting. If these posts are true, some iteration of a spot bitcoin ETF seems likely.” While emphasizing that “Precisely what the characteristics of an approved bitcoin spot ETF will entail remains to be seen,” the former SEC internet enforcement chief stated:
Under any circumstance, the legacy of SEC Chair Gary Gensler could be the approval of a spot bitcoin ETF. That is a mammoth victory for big crypto. Strange days indeed.
Until now, Stark had maintained his skepticism about the SEC approving a spot bitcoin ETF. He said earlier this month that “the reported 90% likelihood of the SEC’s approval of a bitcoin spot ETF” is “absolutely absurd,” referencing Bloomberg’s analysts predicting a 90% chance of the SEC approving this investment product by Jan. 10.
The former SEC official has long been a crypto skeptic. He believes that crypto prices go up for two reasons. The first is “because there is no regulatory oversight to prevent market manipulation” and the second is “because people are able to sell hyped, FOMO’d, and overpriced crypto to a ‘greater fool,’ whether or not the crypto is overvalued.” He has cautioned several times that “crypto regulatory onslaught will never end.” Earlier this month, he warned of the end of crypto exchange Binance.
$BTC #SEC #ETF #GaryGensler

In recent times, the name Gary Gensler has become synonymous with controversy and intense scrutiny within the world of finance. As the Chairman of the U.S. Securities and Exchange Commission (SEC), Gensler's leadership style has ignited battles with crypto giants, sparked criticism from renowned publications, and triggered debates about the SEC's regulatory approach.

Gensler's Aggressive Stance on Cryptocurrency

Gary Gensler's tenure as SEC Chairman has been marked by an assertive approach towards the cryptocurrency sector. This aggressive stance has not only drawn criticism from crypto enthusiasts but has also extended into mainstream financial journalism.

Legal Battles with Crypto Giants

One of the most prominent consequences of Gensler's approach has been the legal battles involving industry heavyweights like Coinbase, Binance, and Ripple. These disputes highlight the regulatory challenges faced by crypto platforms under his leadership.

Unusual Foes: The SEC vs. the US Chamber of Commerce

In an unexpected turn of events, the SEC has found itself in a legal tussle with the US Chamber of Commerce, a disagreement revolving around new rules governing corporate share buybacks. We explore the significance of this dispute and its potential implications.

Industry Backlash Against Disclosure Regulations

Gensler's SEC has introduced new disclosure regulations that have sparked backlash from a coalition of private equity, venture capital, and hedge fund groups. We delve into the reasons behind this opposition and the potential consequences for the business world.

Critics Decry SEC's Regulatory Blitz

Under Gensler's leadership, the SEC has launched a regulatory blitz of monumental proportions, drawing comparisons to the regulatory response after the financial crisis of 2008. Critics both within and outside the crypto sphere have raised concerns about the SEC's perceived inflexibility.

The Balance Between Protection and Innovation

While Gensler's tenure has been marked by controversy, it's essential to consider the need for stringent regulation to protect investors in the volatile cryptocurrency market. We weigh the arguments on both sides and discuss the potential impact on the crypto industry's trajectory.

In Summary

The intense scrutiny surrounding SEC Chairman Gary Gensler's leadership underscores the evolving regulatory landscape in the financial world. These controversies have the potential to shape the future of the crypto industry and impact all stakeholders, from investors to crypto enthusiasts. As the debates continue and legal battles unfold, the path forward for cryptocurrencies remains uncertain, making it a matter of utmost importance for all those involved.

#SEC #GaryGensler #regulation #BTC $BTC #bitcoin

Analyzing KASTA Chart: Understanding the Factors at Play

The KASTA token has garnered significant attention lately, with many investors seeking insights into its chart analysis. However, it is important to approach the analysis with a balanced perspective. While some investors may anticipate a positive outcome based on various factors, it is crucial to consider both the strengths and potential challenges associated with KASTA. This article aims to provide a comprehensive examination of the current situation and shed light on key considerations for investors.

Understanding the Early Investor Impact

A crucial aspect to evaluate is the influence of early investors who participated in the SEED sale, private sale, and IDO. These investors have likely already booked substantial profits by selling their holdings to the public market. It is essential to recognize that this selling pressure from early investors can significantly impact the token's price and potential future growth.

Notable Sale Prices and Circulating Supply

Examining the sale prices, we observe that KASTA was initially sold during the SEED sale at $0.015, experiencing a modest increase of 10% from the sale price. However, compared to the private sale price of $0.022, the token has seen a decline of approximately 25%. Furthermore, the IDO sale price of $0.04 represents a substantial decrease of 59%.

Considering the current circulating supply of 242,476,006 KASTA tokens, it becomes apparent that a relatively small investment of approximately $4 million could potentially cause significant price movements. This aspect underscores the importance of closely monitoring any developments related to large-scale investments, as they could impact the token's future trajectory.

Analyzing Historical Performance

To gain further insights, it is valuable to examine KASTA's historical performance. Currently, the token is down by an alarming 98.54% from its all-time high of $1.13 recorded in January 2022. Moreover, the recent price decline has led to a new all-time low of approximately $0.0146.

Evaluating Fundamentals and Technical Indicators

Despite investors' expectations, it is essential to objectively evaluate the fundamental and technical aspects of KASTA. At present, there appear to be limited indications supporting a significant boost in price. However, it is important to note that the entry of influential whales or large investors could potentially drive a substantial price increase if they actively engage in price manipulation.

Key Support and Resistance Levels

Considering the potential price movements, it is advised to closely monitor the support level around $0.015. Should the price break below this level, it may be prudent to consider exiting the trade. In the event of further decline, a potential entry point could arise if the price reaches another 50-60% decrease from the current level.

Analyzing Token Distribution

Token distribution plays a crucial role in understanding market dynamics. In the case of KASTA, the top 10 holders possess 85.06% of the total circulating supply, while the top 50 holders own 97% of the circulating supply. This concentration of ownership should be considered when assessing potential price movements and the influence of large stakeholders.

Conclusion

It is vital to approach the analysis of KASTA's chart with caution, considering the factors discussed above. While there are instances where early investors have secured substantial profits, the token's overall trajectory remains uncertain. Evaluating fundamentals, technical indicators, historical performance, and token distribution provides valuable insights for investors.

Disclaimer: The opinions expressed in this article are solely the author's personal views and should not be considered financial advice. It is crucial to conduct thorough research and exercise caution when making investment decisions in any cryptocurrency.

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