๐ฒ Insider Info in my Socials ๐
๐ Get The Hottest Crypto Deals ๐
๐ “Bitcoin Illusion” Shirt ๐
๐ฅ TOP Crypto TIPS In My Newsletter ๐
~~~~~
๐บEssential Videos๐บ
SEC Ripple XRP Lawsuit Explained ๐
Gary Gensler MIT Crypto Course ๐
Weekly Crypto Review ๐
What Backs The Biggest Stablecoins ๐
FATF Crypto Regulations ๐
~~~~~
– TIMESTAMPS –
0:00 Intro
2:15 What Is The SEC?
5:53 SECโs Attitudes Towards Crypto
8:32 Genslerโs Crypto Background
11:40 Genslerโs Recent Comments
15:36 Which Cryptos Will The SEC Target?
18:41 SEC Controlled By Banks?
21:53 Outro
~~~~~
โ๏ธ ๐ Useful Links ๐ โ๏ธ
โบ SEC William Hinman โSufficiently Decentralizedโ:
โบ SEC Hester Pierce Token Harbor Proposal:
โบ SEC Gary Gensler Recent Crypto Comments:
โบ Infrastructure Bill And Why Itโs Bad For Crypto:
โบ SEC Wikipedia Page (Crazy Stuff Here):
โบ Treasury Secretary Janet Yellen Makes Millions From Bank Speeches:
~~~~~
๐จโ๐ซWhat Is The SEC?๐จโ๐ซ
The Securities And Exchange Commission or SEC is a government agency in the United States created in 1934 in response to the Wall Street Crash of 1929 which caused The Great Depression. Naturally, the purpose of the SEC is to help prevent a crash like that from happening again
๐ต๏ธโโ๏ธSECโs Attitudes Towards Cryptocurrency๐ต๏ธโโ๏ธ
As you can see, the SEC is headed by five commissioners. One of them holds the role as chairman who acts as the de facto spokesperson for the SEC among other things
The SECโs current commissioners are Caroline Crenshaw, Allison Lee, Elad Roisman, Hester Pierce, and Gary Gensler who is the SECโs chairman
Of the five, only Elad, Hester, and Gary have commented about cryptocurrency. Both Elad and Hester have favorable views of the industry
๐จโ๐ผGary Genslerโs Crypto Background๐จโ๐ผ
In contrast to his commissioner compatriots, Gary is an investment banker by trade and spent half of his 40-year career working for Goldman Sachs
Gary has spent the other half of his career working in high positions at various government departments including the US Department of the treasury and the commodities and futures trading commission
Gary taught at MIT was about cryptocurrency and blockchain in the fall of 2018, and you can watch the whole course for free right here on YouTube
๐ฑGary Genslerโs Recent Crypto Comments๐ฑ
In an online event hosted by the Aspen Security Forum, Gary noted that most cryptocurrencies need to be regulated, and paid specific attention to stablecoins and DeFi
โWhich Cryptocurrencies Will The SEC Target And When?โ
The good news is itโs unlikely that the SEC will clamp down too hard on cryptocurrency any time soon. This will change when politicians return from their recess in mid-September
It looks like the SEC will target any cryptocurrencies and projects that compete with banks. This means DeFi, crypto CeFi, stablecoins, and more
๐ฆSEC Controlled By Banks?๐ฆ
As it so happens, former SEC chairman Jay Clayton also spent decades hanging out on Wall Street where he advised some of the biggest banks, primarily Goldman Sachs
Not only that, but Jayโs wife served as the Vice President of Goldman Sachs for over 17 years. She quit her job shortly before Jay became the chair of the SEC to reduce the risk of raised eyebrows
If you look into the SECโs history, youโll find that they have had a very close relationship with Wall Street and have broken the law on many occasions to protect the big banks they are supposed to regulate
~~~~~
๐ Disclaimer ๐
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Crypto #SEC #regulation #xrp #eth #bitcoin
Source: Coin Bureau
42 Responses
What do you guys think of Gary's comments? Which projects do you think are at most risk? Keen to hear! Don't forget that you can follow me on my social channels for the content that you are not getting on the tube! ๐ https://guy.coinbureau.com/socials/
Hallo Guy, I have been following your channel for two months and since I have started, it has really helped me understand better the market and itยดs rules and to not loose money on crypro but rather increase my profits. Thus i want to congratulate you!! Job done really well by you!! Your channel is, to quote you, โthe s-itโ. Thank you for your help. Greetings from Prague and if you happen to visit the city, I will be really happy to buy you a pint of good Czech beer. I promise I will keep off crypto relted conversations- all the info is already on your channel. Just two guys having a beer. Heads up- if you want to visit the city- late spring or summer is the right time to visit. Cheers
I wonder if you have changed your mind about XRP Guy. I unsubscribed to you some months ago where I found you didn't do your research and spread FUD.
Needless to say XRP continues to perform regardless, or have you caught up yet…?
Fantastic video but … why speak like an American? You're clearly a Brit. We say autumn, not fall.
We say envisage, not envision
And we absolutely say anyway, not anyways. It sounds ridiculous when you pretend to be a Yank!
But the most informative, least biased channel on YouTube. Cheers!
Protect the banks , not the investor. These are all the wrong ppl. Clinton , SEC , Goldman , yellen, Warren. All the wrong ppl. Commies
Crypto eri pulled so much misinform out of this guy's ripple Vs sec video.
He looks so dumb while reading the teleprompter. haha
Pretty sure Eth will be next on the list for the sec.
SEC i see are corrupt and working with big banks . I saw this first hand when Analyst from Golden Sachs criminally blasted Nio company to crash the price and meanwhile they were purchasing buckets ๐ชฃ of stocks. ๐ก
SEC did nothing.
Amazing content. Thanks Guy.
his name is gay ๐
CARDANO ๐ฅ๐ฅ๐ฅ โ๏ธโ๏ธ๐๐ซโจ ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ CARDANO da is my girl!!
The SEC are indeed a bunch of hypocrites that are NOT doing their work properly to begin with. I name some SPACโs like Skillz and many others: corrupt to begin with. SEC allowed their seed investor, the founders of the SPAC, buy in at cents(hardly one or two) per share. While others had to buy in at a minimum of $10. And Allow attracting big-name underwriters and investors and raising a record amount of money at much higher prices..(some) And the SEC allows many SPACโs to Cook The Books. As in the case with Skillz(they overstated their profitresults with 100%., So let the corrupt SEC first clean up their act and start doing their work properly, before turning to the Crypto community..
USA is truly a great satan.
They destroy everything
That Gensler guy looks like he is missing a brain. The top of his head is so flat. He looks like an absolute clown. It defies belief that people like that are in such position of power. If these people insist to go against the common people, prepare for the Trump card in 2024.
Your arrow is hitting the bullseye.
Alison is hot ๐
this video is honest, i like honesty so i like the video
Your sincerely
form PAKISTAN
Glad I donโt live in the states, but this will still fuck up the crypto space
When China banned mining, Americans all making noise. Now it's their turn to bite the dust
lol, didnt tekk us which ones you are likely to survive…
oh guy I love your poetry lol
Any views on Zilliqa, thank you for all the information you keep giving us as a non fin, advisor we love it.
A louder audio could be nice
Even if they completely outlawed crypto we should all continue using it, especially the coins they dislike the most. They can't jail everyone.
SEC goes after Ripple… Coin Bureau couldn't give a sh%t.
SEC implies it's going after most assets… Coin Bureau is suddenly concerned.
Ripple founders = greedy scum.
ETH founders = nothing but good (but billionaires from their holdings/sales).
Ripple selling XRP to build out ecosystem = dodgy
Eth founders selling ETH to build out ecosystem = still good guys.
Hypocrisy. Bias.
Banks were to late on crypto, theyโve rolled out their Central Banking Digital Currency or CBDC and are now using their corrupt politicians and lawmakers to enforce their will. They want influence on the crypto market, changing the course whenever they want.
You are getting better, better! Valuable content. Thanks!
Gary, a corrupt puppet. We donโt need people like these in positions of power.
Holyshit!
Thanks guy
Gensler, a man that is easily sold because of his own personal greed being more powerful than his scruples. A weak man.
if it doesn't make the banks a buck its going to get !@#$%&.
when NFTART token education video ???? ๐
Swason was " deep undercovers" while investigating "Madoff's Assets"..
You can't trust any of these fuckers. If you guys haven't learned by now, all of them are morally bankrupt thugs trying to steal your hard earned money using their law makers to force you out of making money for your own survival. They will gladly take your last dollar, find a way to fine you more, and then have you pay interest if you can't pay the fine for not giving them more money they didn't earn, or deserve.
Nice video riding the wave of news. The answer is none are at risk. IRS came out and said they won't follow bill. Moving along
#HEX #Pulsechain
Nice to see Dems looking out for the little guy ๐
Regretting 2020 yet? "B-b-b-b-but he had bad tweets!!" ๐คฃ
Democrats r socialists and communists they dun like decentralization they want authoritarianism
Love ur contentโฆ one of the best and rounded information
How will this affect the Mirror Protocol and Synthetix Project?