If anyone argues against this, they are a damned fool. Coinbase has been one corrupt shitty exchange every since I "got in to" bitcoin. They were sorta the really only player in town for quite some time. I used them back in the day when their exchange would freeze seemingly every single time there was any sort of sell off, didn't even have to be all that big. They have locked up accounts and stolen bitcoin from friends of mine and I've heard countless stories of people get fucked by them. SO yes, f Conbase.
Topic: The politician who criticizes SEC Policies (Congressman Tom Emmer, not Trump) (Read 85 times)
September 27, 2024, 11:39:26 AM
September 27, 2024, 06:43:40 AM
SEC is an independent federal agency, and to enhance the independence of such agencies, it would be difficult for politicians to replace the chairman of the commission without a good reason. So even if Trump were elected president of the United States, the highest executive position, he could not easily fire SEC Chair Gary Gensler. Criticism from politicians will not change the SEC's behavior any more than pressure from investors because the SEC's primary goal is to protect their investments and their objection to the regulatory approach will change the SEC's approach. entities like Blackrock and Morgan Stanley have more influence.
September 26, 2024, 11:28:56 AM
Quote
One of the most vocal critics is Congressman Tom Emmer, who has publicly challenged Gensler’s approach to cryptocurrency regulation. Emmer has called Gensler’s policies inconsistent and damaging to the U.S. crypto industry, stating that they are pushing the country behind its global competitors. He emphasized the need for a more consistent and coherent regulatory framework to foster innovation while ensuring compliance with U.S. laws.
The current situation of United States is actually damaging its reputation as the land of opportunity. There are multiple countries/ business destinations available in the market today, where crypto companies can start and grow their business without much regulatory hassles. Take Singapore or Dubai for example.
It's good that at least some people understands that and trying their best to change the situation. Donald Trump is still a candidate. His promises will have some weight if he becomes a President. Before that, nothing else makes much sense!
September 26, 2024, 06:06:16 AM
However, some politicians are currently in power but still speak "in favour" of Bitcoin. If some politician harshly criticizes Gary Gensler, Chairman of the SEC, I think it's a more important thing than Trump's first Bitcoin transaction (a month before the 2024 vote). At the same time, I am almost certain that the majority of the crypto community will agree with the criticisms that have been directed at the SEC.
Regardless, it's good to see that someone has recognized and publicly stated the problem with the SEC
These politicians in power with their positions, already questioned and criticized SEC and its chairman Garry Gensler in some Congressional hearings many months ago. I believe the pressure from them are one of reasons to force SEC. approving Bitcoin Spot ETF applications in January 2024. Another pressure is the President Election in November 2024 and the Democrat Party did not want to lose supports from US citizens.Regardless, it's good to see that someone has recognized and publicly stated the problem with the SEC
These reasons are biggest ones for Bitcoin Spot ETF approvals this year. With this flow of pressure and policy changes of SEC under pressure, latest criticisms from Republican Party politicians are not strange and not surprising.
Skip politics, these things are good for Bitcoin.
September 26, 2024, 05:59:56 AM
Trump's every word and every move is closely followed and there is a lot of discussion about it. However, everything he is currently doing is just speculation and has no particular weight. He is still only a candidate.
However, some politicians are currently in power but still speak "in favour" of Bitcoin. If some politician harshly criticizes Gary Gensler, Chairman of the SEC, I think it's a more important thing than Trump's first Bitcoin transaction (a month before the 2024 vote). At the same time, I am almost certain that the majority of the crypto community will agree with the criticisms that have been directed at the SEC.
Regardless, it's good to see that someone has recognized and publicly stated the problem with the SEC
Tom Emmer TW: https://x.com/GOPMajorityWhip
However, some politicians are currently in power but still speak "in favour" of Bitcoin. If some politician harshly criticizes Gary Gensler, Chairman of the SEC, I think it's a more important thing than Trump's first Bitcoin transaction (a month before the 2024 vote). At the same time, I am almost certain that the majority of the crypto community will agree with the criticisms that have been directed at the SEC.
Regardless, it's good to see that someone has recognized and publicly stated the problem with the SEC
Quote
One of the most vocal critics is Congressman Tom Emmer, who has publicly challenged Gensler’s approach to cryptocurrency regulation. Emmer has called Gensler’s policies inconsistent and damaging to the U.S. crypto industry, stating that they are pushing the country behind its global competitors. He emphasized the need for a more consistent and coherent regulatory framework to foster innovation while ensuring compliance with U.S. laws.
source: https://icogemhunters.com/sec-under-fire-bitcoin-custody-rules-face-urgent-challenge-from-congress/Tom Emmer TW: https://x.com/GOPMajorityWhip
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