@Z-tight. This will certainly support the storyline where uncle Gary is choosing which companies to attack in the cryptospace. If this is a company where he has a friend among the founders and executives then he will not attack this heheheh.
This might be a good information to use if you are a long term investor. We can find these projects that have a friendly relationship with uncle Gary and we can be quite certain the crackdown will not arrive on them.
Topic: 7 US States Unite to Challenge SEC's Crypto Overreach (Read 364 times)
There are speculations and unconfirmed declarations in social media that our favorite uncle, Gary Gensler is being investigated. There was no information shared, only a statement that has said Gary Gensler is being investigated.
However, I wish that this was true heheheeh. Uncle Gary's tactics are an abuse of being in the position of an SEC chairman.
I looked it up, and yeah he is truly being investigated for hiring based on political ties rather than on merit, i am certain that crypto users are going to enjoy this one, Gary Gensler has been a strong opposition to cryptocurrency, with regulations that attack crypto firms and stalls the growth and development of cryptocurrencies. However, I wish that this was true heheheeh. Uncle Gary's tactics are an abuse of being in the position of an SEC chairman.
Gensler is expected to submit documentations into the Sec hiring process and decisions later this month, so we will watch and see what happens, but i am sure no crypto enthusiast will be wishing him goodluck.
There are speculations and unconfirmed declarations in social media that our favorite uncle, Gary Gensler is being investigated. There was no information shared, only a statement that has said Gary Gensler is being investigated.
However, I wish that this was true heheheeh. Uncle Gary's tactics are an abuse of being in the position of an SEC chairman.
However, I wish that this was true heheheeh. Uncle Gary's tactics are an abuse of being in the position of an SEC chairman.
The whole US and its current President is a twisted concept. Each states have different law which makes things more complicated. I have serious doubts about their democracy but they are known to preach to others about it.
I guess if Trump wins the election and does what he has been promising in his campaign about Bitcoin then more states might unite. He has already said that the current chairman of the SEC will be out of his job if he wins. The situation will not be that good for the current chairman and the SEC when he becomes the President.
I guess if Trump wins the election and does what he has been promising in his campaign about Bitcoin then more states might unite. He has already said that the current chairman of the SEC will be out of his job if he wins. The situation will not be that good for the current chairman and the SEC when he becomes the President.
You would think Texas would have some action on this. They have huge mining areas. Yet they stayed away from the suit.
Twisted situation out there in the US it seems.
Different states have different opinions, some feel that crypto development is being stifled, while others feel scams are being propagated by the help of crypto payments. Both are correct in their own way and regulation is a necessary evil here.
SEC have had its day, good or bad. Maybe a change is needed, spearheaded by new groups to make the change and bring in a more middle-ground regulation in the US.
Different states have different opinions, some feel that crypto development is being stifled, while others feel scams are being propagated by the help of crypto payments. Both are correct in their own way and regulation is a necessary evil here.
SEC have had its day, good or bad. Maybe a change is needed, spearheaded by new groups to make the change and bring in a more middle-ground regulation in the US.
Ideally, BTC was created to exist with NO regulation in any part of the world. However, the Utopian early days of BTC were missed by a lot of us, and you are correct about the current situation in the USA.
Twisted situation out there in the US it seems.
Different states have different opinions, some feel that crypto development is being stifled, while others feel scams are being propagated by the help of crypto payments. Both are correct in their own way and regulation is a necessary evil here.
SEC have had its day, good or bad. Maybe a change is needed, spearheaded by new groups to make the change and bring in a more middle-ground regulation in the US.
Different states have different opinions, some feel that crypto development is being stifled, while others feel scams are being propagated by the help of crypto payments. Both are correct in their own way and regulation is a necessary evil here.
SEC have had its day, good or bad. Maybe a change is needed, spearheaded by new groups to make the change and bring in a more middle-ground regulation in the US.
https://news.bitcoin.com/7-us-states-unite-to-challenge-secs-crypto-overreach/
"Seven U.S. states have united in a coalition to challenge the U.S. Securities and Exchange Commission’s (SEC) regulation of cryptocurrency. The states filed an amicus brief arguing that the SEC’s “power grab” would stifle innovation, harm the crypto industry, and exceed its authority.
Seven-State Coalition Opposes SEC’s Cryptocurrency Regulation
The Office of the Attorney General of Iowa announced earlier this month that Iowa Attorney General Brenna Bird led a seven-state coalition in filing an amicus brief opposing the U.S. Securities and Exchange Commission’s (SEC) attempt to regulate cryptocurrencies. The amicus brief, supported by Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma, was filed on July 10 to challenge the SEC’s overreach.
“SEC’s power grab may stop states from protecting their citizens from scams, and it hurts the free market,” the announcement details, adding:
SEC’s policing of cryptocurrency will stifle innovation and devastate the cryptocurrency industry."
"Seven U.S. states have united in a coalition to challenge the U.S. Securities and Exchange Commission’s (SEC) regulation of cryptocurrency. The states filed an amicus brief arguing that the SEC’s “power grab” would stifle innovation, harm the crypto industry, and exceed its authority.
Seven-State Coalition Opposes SEC’s Cryptocurrency Regulation
The Office of the Attorney General of Iowa announced earlier this month that Iowa Attorney General Brenna Bird led a seven-state coalition in filing an amicus brief opposing the U.S. Securities and Exchange Commission’s (SEC) attempt to regulate cryptocurrencies. The amicus brief, supported by Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma, was filed on July 10 to challenge the SEC’s overreach.
“SEC’s power grab may stop states from protecting their citizens from scams, and it hurts the free market,” the announcement details, adding:
SEC’s policing of cryptocurrency will stifle innovation and devastate the cryptocurrency industry."
It's good to see that some movements are happening against the proactivity of SEC regarding cryptos. SEC has already hurt the crypto industry with billions of dollars in penalty and numerous cases of harassments over individuals. Right now, a crypto company would find it beneficial to move to countries like Singapore if they want to start something innovative within this industry. SEC is just too hostile about cryptos.
I was seeing the big promises Donald trump was making about cryptos. I hope those will become a reality if he is voted to power. Every industry needs a supportive framework to grow and thrive. Right now, US is loosing big time here.
SEC’s policing of cryptocurrency will stifle innovation and devastate the cryptocurrency industry."
The US is too big for only one agency to regulate the crypto industry. I support these States' quest to limit the powers of the SEC. States should be allowed to regulate some aspects of the crypto industry based on their peculiar business environment. Many crypto businesses would be discouraged from investing in some states because of these overreaching laws. An example of how a central policy on crypto will affect the development of each state is the issue of mining. Some States have excess electric supply and they need miners to maximize this extra power. While another state might be facing electricity supply shortages and don't need mining activities. States should be allowed to protect their citizens from scams and other criminal activities. I think they will handle these issues faster and better since they will not go through the bureaucratic processes associated with Federal agencies. I suspect that German crypto laws allow States to sue and persecute suspected crypto scammers. This might be the reason why the German State of Saxony was able to confiscate and sell seized Bitcoins.
@zasad@. Thank you for sharing my friend, this is very good news heheeh. I speculate that this action that they have begun will strengthen more when their coalition will gather more people and businesses from the cryptospace. I reckon that this would not have occured if uncle Gary was fair on his crypto crackdown. However, he was not. This will be him after the Ethereum ETF's begins trading hehehehehe. The Solana ETF will be the next.
Quote
"Seven U.S. states have united in a coalition to challenge the U.S. Securities and Exchange Commission’s (SEC) regulation of cryptocurrency. The states filed an amicus brief arguing that the SEC’s “power grab” would stifle innovation, harm the crypto industry, and exceed its authority....
This is great, something needs to be done to help make the ecosystem healthy for business in the USA. Here are the 7 states, with Iowa leading the effort:
"The Office of the Attorney General of Iowa announced earlier this month that Iowa Attorney General Brenna Bird led a seven-state coalition in filing an amicus brief opposing the U.S. Securities and Exchange Commission’s (SEC) attempt to regulate cryptocurrencies:
....
Iowa
Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma,"
https://news.bitcoin.com/7-us-states-unite-to-challenge-secs-crypto-overreach/
"Seven U.S. states have united in a coalition to challenge the U.S. Securities and Exchange Commission’s (SEC) regulation of cryptocurrency. The states filed an amicus brief arguing that the SEC’s “power grab” would stifle innovation, harm the crypto industry, and exceed its authority.
Seven-State Coalition Opposes SEC’s Cryptocurrency Regulation
The Office of the Attorney General of Iowa announced earlier this month that Iowa Attorney General Brenna Bird led a seven-state coalition in filing an amicus brief opposing the U.S. Securities and Exchange Commission’s (SEC) attempt to regulate cryptocurrencies. The amicus brief, supported by Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma, was filed on July 10 to challenge the SEC’s overreach.
“SEC’s power grab may stop states from protecting their citizens from scams, and it hurts the free market,” the announcement details, adding:
SEC’s policing of cryptocurrency will stifle innovation and devastate the cryptocurrency industry."
"Seven U.S. states have united in a coalition to challenge the U.S. Securities and Exchange Commission’s (SEC) regulation of cryptocurrency. The states filed an amicus brief arguing that the SEC’s “power grab” would stifle innovation, harm the crypto industry, and exceed its authority.
Seven-State Coalition Opposes SEC’s Cryptocurrency Regulation
The Office of the Attorney General of Iowa announced earlier this month that Iowa Attorney General Brenna Bird led a seven-state coalition in filing an amicus brief opposing the U.S. Securities and Exchange Commission’s (SEC) attempt to regulate cryptocurrencies. The amicus brief, supported by Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma, was filed on July 10 to challenge the SEC’s overreach.
“SEC’s power grab may stop states from protecting their citizens from scams, and it hurts the free market,” the announcement details, adding:
SEC’s policing of cryptocurrency will stifle innovation and devastate the cryptocurrency industry."
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