GARY GENSLER is about to CRASH Crypto MARKETS! (Bittrex Action Explained)

Gary Gensler and the sec's war on crypto Wages on the SEC sues bittrex for Operating an unregulated Securities Exchange bittrex is being accused of Offering Securities without being Registered to do so the U.S Securities And Exchange Commission announced today That it was charging crypto exchange Bittrex and former CEO William shihara For allegedly operating an unregistered National Securities Exchange broker and Clearing agency the SEC is also suing Bittrex foreign affiliate bittrex Global For failing to register as a national Securities Exchange The SEC claimed in its complaint that Bittrex facilitated the buying and Selling of cryptocurrencies which the Agency believes to be Securities this Includes OMG Network Dash algorand tkn NGC and iht according to the SEC Trex and their CEO instructed the teams Behind These cryptocurrencies to scrub Problematic statements they'd made in The past which they believed could bring Attention of regulatory agencies such as The SEC itself price predictions Expectations of profit and other Investment related terms were ordered For deletion before the assets could be Listed on bittrex quote from Gary Gensler today's action yet again makes Plain that the crypto markets suffer From a lack of Regulatory Compliance not

A lack of regulatory clarity as alleged In our complaint bittrex and issuers That it worked with knew the rules that Applied to them but went to Great Lengths to evade them by directing Issuer applicants to scrub offering Materials of information indicating that Certain crypto assets were Securities Bittrex claps back bittrex Global Responded to the civil lawsuit by Claiming that it never served any U.S Customers and had taken pains to forbid U.S residents from using the exchange it Also criticized the SEC for not seeking To engage with the company before suing Quote from bittrex global bittrex global Was willing to work productively with The SEC as we do all Regulators to Explain our position it has become clear That the SEC is not interested in such Discussion this is the CEO back in 2017 On CNBC articulating on how they choose Altcoins to be listed on their exchange The reason why a lot of coins haven't Been listed on coinbase is because There's this thorny issue of whether It's a security or a commodity and I'm Wondering how have you gotten past that Enlisting a lot of these different coins Out there Well for us you know it's primarily About Innovation that's what we're Excited about and so we have a very Rigorous review process to go and find

The most Innovative blockchain projects Out there in the world and part of that Process is not just making sure that the Technology and the business models are Innovative we also screen and look at The founders and principals behind the Project and then we also put them Through a compliance review and we work With their us-based lawyers as well as Independent lawyers who double check to Ensure that it's something that we feel Comfortable trading in the United States So you're actually doing the due Diligence on every single altcoin that You're listing that you're making Available to buy in Fiat That's right more than that bittrex's Full statement bittrex claps back we are Disappointed with the sec's decision to Bring an enforcement action against Bittrex as part of chairman gensler's Larger crusade to drive cryptocurrency Out of the United States the impact of The sec's approach of Regulation by Enforcement will have a chilling effect On not just cryptocurrency in the U.S But on blockchain Tech and innovation in General while in operation bittrex Provided a trading platform for digital Assets Securities were not offered or Traded on bittrex nor did bittrex offer Any products that were investment Contracts for over five years and Despite multiple specific requests to do

So the SEC would not provide notice of The specific conduct that it thought Violated the federal Securities laws Specifically on multiple occasions we Asked them to tell us what digital Assets on our platform form they viewed As Securities so that we could review And potentially de-list them they Refused to do so bittrex operated within The parameters of the law at all times And we look forward to vindicating our Position in court the sec's actions will Directly and substantially harm us Customers and U.S employees in this Industry and will ultimately put our Country at significant disadvantage in The development of blockchain tech Including uses far beyond crypto in the Future Gary gensler's statement today's Action yet again makes plain that the Crypto markets suffer from a lack of Regulatory Compliance not a lack of Regulatory Clarity is a laugh and a half Because although today the SEC is Claiming algorand is a security in the Bittrex lawsuit in 2019 Gary Gensler was Singing the Praises of algorand Sylvia Mccallie's algorand who's a touring Award winner at MIT that I work with um Sylvia's got a great technology that has A performance you could create Uber on Top of it in fact Gary Gensler has been Promoting algorand for years as a Quality product in the crypto space Leo

Mccalley's algorand he's a professor Over the computer science and AI lab and Touring Award winner he's got a company That has an interesting thing it's like A jewelry selection it's like picking Somebody for the jewelry uh that's That's picking this short group of 12 Nodes that might do something And every block has that selection Process but then there's another broader Group that then can check the work of The jury so often there's kind of a Second automated way because trust isn't There Ensuring that there's a quick second Check did they decide guiltier or Innocent correctly so to speak Again I apologize if I'm a little Oversimplifying Sylvia's brilliant work But it's Now the SEC ruled that Al Grant is a Security is he going to get hit with the Same 1.26 million dollar fine he gave Kim Kardashian I don't think so no doubt This will be the subject of at least a Few lines of questioning at tomorrow's House Financial Services Committee Hearing the Knight is always darkest Before the dawn rest assured there's Some action being taken in Senate right Now to remove Gary Gensler Ohio Senator Moves to fire SEC chair Gary Gensler After a long series of abuses in a new Bill Congressman Warren Davis Republican

Ohio is introducing legislation aimed at Replacing Gary Gensler the chair of the U.S Securities and Exchange Commission Says Davidson to correct a long series Of abuses I'm introducing legislation That removes the chairman of the Securities and Exchange Commission and Replaces the role with an executive Director that reports to the board where Authorities reside former chairs of the SEC are ineligible in addition to that The users the network effect the Building that's been going on in Cryptocurrency for the past 10 years is Inarguable coinbase CEO says crypto Could have two to three billion users in The next 10 years specifically he said This there's actually quite a lot of Usage Beyond speculation in crypto and Getting two to three hundred million People who've tried crypto in the first Decade is really good if this growth Rate continues there will be two to Three billion in 10 years roughly Similar to internet adoption key unlocks Will be scalability on layer 2 like Going dial up to broadband and Regulatory Clarity also usability in a Democracy the government works for the People not the other way around right America has many flaws and it's slow and Bureaucratic but what eventually ends up Happening is that sentiments shift in The U.S a new generation of people

Emerges they get people who run for Office and basically America has this Kind of self-healing system imagine how Bad it would be if we got someone anti Crypto and they were dictator for life At least we can just wait four years or Eight years in the worst case and get a New crop of people and crypto is going To outlast any Administration any Official as long as we keep building I Think we'll get there eventually by the Way make sure you subscribe to our Channel daily videos just like this Keeping you informed on the entire Cryptocurrency Market if you're Interested in making money in Cryptocurrency subscribe to our channel Daily videos get your tickets to bitcoin 2023 Miami May 18th through 20th Miami Beach this year use code altcoin daily 10 off this is the biggest Bitcoin Conference of the Year ticket prices Continue to increase as we get closer to The event use code altcoin daily 10 off Get your tickets now the easy thing to Do would be to continue to remain Short-sighted about Bitcoin and crypto Like this nothing with crypto and the Title ever turns out good in fact making Fun of Technology Innovations has always Been the easy thing to do Bill Maher Calling Bitcoin and nfts am today he's The same guy in 2003 reacted this way to Camera phones I don't care that your

Phone takes pictures It's a phone not a Swiss army knife Great now the annoying camera buff and The Annoying cell phone prick can merge As one guy

Coinbase
OUR TAKE

Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

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