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> Is he required to? Not knowing the answer to the most obvious question is mildly embarrassing, to say the least. It's clear that he didn't do his due diligen

> Is he required to? Not knowing the answer to the most obvious question is mildly embarrassing, to say the least. It's clear that he didn't do his due diligence and jeopardized the SEC competency and integrity. His very clear conflict of interests with FTX (i.e. Sam) and Binance (where he was refused a position some years ago) were already not really helping. And yeah, not knowing the most obvious answer just begs a simple question: how shall all these crypto exchanges have known (better than the SEC) that A, B or C are a commodity but D or E aren't? Please... Crypto will prevail, Gary is just a bump in the road. The question is how much more damage he is going to cause to the US before he is removed, while the world is watching China toying with Ethereum having issued yesterday tokenized notes on that blockchain.

JumpCrisscross 3y ago
> Not knowing the answer to the most obvious question is mildly embarrassing, to say the least Whether Ethereum is a security is far from obvious. Had Gensler acted like it was, he would have lost credibility. In any case, it's irrelevant to Coinbase, who weren't charged in relation to their Bitcoin or Ether trading. > how shall all these crypto exchanges have known (better than the SEC) that A, B or C are a commodity but D or E aren't The SEC released The DAO Report in 2017 laying out a framework [1]. This is when crypto's lobbying stepped up; the status quo was clear. They wanted a different one. > while the world is watching China toying with Ethereum China has banned crypto since 2021 [2]. BOCI's $30mm placement in Hong Kong through UBS is interesting, but far from a belwether [3]. (UBS Tokenize has been selling digital assets to wealth management clients in Hong Kong and Singapore for a while.) [1] https://www.sec.gov/litigation/investreport/34-81207.pdf https://www.sec.gov/litigation/investreport/34-81207.pdf [2] https://www.bbc.com/news/technology-58678907 https://www.bbc.com/news/technology-58678907 [3] https://www.ubs.com/global/en/media/display-page-ndp/en-20230609-tokenized-notes.html https://www.ubs.com/global/en/media/display-page-ndp/en-2023...

JumpCrisscross 3y ago

> Not knowing the answer to the most obvious question is mildly embarrassing, to say the least Whether Ethereum is a security is far from obvious. Had Gensler acted like it was, he would have lost credibility. In any case, it's irrelevant to Coinbase, who weren't charged in relation to their Bitcoin or Ether trading. > how shall all these crypto exchanges have known (better than the SEC) that A, B or C are a commodity but D or E aren't The SEC released The DAO Report in 2017 laying out a framework [1]. This is when crypto's lobbying stepped up; the status quo was clear. They wanted a different one. > while the world is watching China toying with Ethereum China has banned crypto since 2021 [2]. BOCI's $30mm placement in Hong Kong through UBS is interesting, but far from a belwether [3]. (UBS Tokenize has been selling digital assets to wealth management clients in Hong Kong and Singapore for a while.) [1] https://www.sec.gov/litigation/investreport/34-81207.pdf https://www.sec.gov/litigation/investreport/34-81207.pdf [2] https://www.bbc.com/news/technology-58678907 https://www.bbc.com/news/technology-58678907 [3] https://www.ubs.com/global/en/media/display-page-ndp/en-20230609-tokenized-notes.html https://www.ubs.com/global/en/media/display-page-ndp/en-2023...