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It's a good point, and I think I would generally agree with this. I just wish the SEC was keeping up with technological innovation. At this point crypto is mo

It's a good point, and I think I would generally agree with this. I just wish the SEC was keeping up with technological innovation. At this point crypto is moving faster than they can keep up with, so I don't think they can accurately judge new crypto projects (or even older ones like Bitcoin and Ethereum), because they don't have the technical skill on their staff, or a modern regulatory framework, to understand and regulate it properly.

verdverm 5y ago
The Chair of the SEC taught crypto at MIT [1]. As much as the SEC needs to upskill, crypto needs to accept they are not going to replace the existing systems and they deserve no exceptions in regulation. What we need is competition in rule making, generally. See "Rules for a Flat World" [1] https://www.sec.gov/biography/gary-gensler https://www.sec.gov/biography/gary-gensler
- hackingforfun 5y ago
  I know who Gary Gensler is and I respect him for the teaching he did at MIT. I'm talking about the staff of the SEC as a whole. In my opinion, they are not moving fast enough or keeping up with technological innovation. I'm just wondering, have you read Gary Gensler's comments at the Aspen Security Forum [1]? I particularly like this quote: "Before starting at the SEC, I had the honor of researching, writing, and teaching about the intersection of finance and technology at the Massachusetts Institute of Technology. This included courses on crypto finance, blockchain technology, and money. In that work, I came to believe that, though there was a lot of hype masquerading as reality in the crypto field, Nakamoto’s innovation is real. Further, it has been and could continue to be a catalyst for change in the fields of finance and money." I have not read, but will look up, "Rules for a Flat World". Thank you for the reference. [1] https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03 https://www.sec.gov/news/public-statement/gensler-aspen-secu...

verdverm 5y ago

The Chair of the SEC taught crypto at MIT [1]. As much as the SEC needs to upskill, crypto needs to accept they are not going to replace the existing systems and they deserve no exceptions in regulation. What we need is competition in rule making, generally. See "Rules for a Flat World" [1] https://www.sec.gov/biography/gary-gensler https://www.sec.gov/biography/gary-gensler

hackingforfun 5y ago
I know who Gary Gensler is and I respect him for the teaching he did at MIT. I'm talking about the staff of the SEC as a whole. In my opinion, they are not moving fast enough or keeping up with technological innovation. I'm just wondering, have you read Gary Gensler's comments at the Aspen Security Forum [1]? I particularly like this quote: "Before starting at the SEC, I had the honor of researching, writing, and teaching about the intersection of finance and technology at the Massachusetts Institute of Technology. This included courses on crypto finance, blockchain technology, and money. In that work, I came to believe that, though there was a lot of hype masquerading as reality in the crypto field, Nakamoto’s innovation is real. Further, it has been and could continue to be a catalyst for change in the fields of finance and money." I have not read, but will look up, "Rules for a Flat World". Thank you for the reference. [1] https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03 https://www.sec.gov/news/public-statement/gensler-aspen-secu...