The Terrifying Crypto Scenario That Could Rip America Apart

Look we don't need more digital currency We already have digital currency it's Called the US dollar it's called the Euro it's called the Yen they're all Digital right now something very strange Is happening in crypto today Gary Gensler just revealed his true motives On CNBC today he makes it clear he's Trying to take down the crypto industry As a whole not just protect investors Look we as an agency are meant to be Merit neutral Jim there's a lot of Question there's 10 to 20 000 tokens Actually in the coinbase uh uh complaint We note that they have through the Coinbase wallet you can trade 16 000 Different tokens and there's a lot of Debate as to the use cases and whether There's any there there and why is Gary Gensler attempting to freeze assets on Binance us uh Mr chairman a lot of it is Hard to understand for instance in the Finance complaint you say Mr chairman I Need to know this the sec's finance Complaint also seeks emergency relief Like an acid freeze expedited Discovery And even the appointment of a receiver Are there more pleadings coming because If you do this that's the end of Finance Look we have concerns that the SEC Trying to freeze binance Us's assets Feels like they're almost trying to Orchestrate a run on Reserves Study Labs deploying more investor

Protection and to be clear if Finance Truly has reserves backed one to one Then a bank run shouldn't be a problem Just speculating that I think there's a Pretty good likelihood this is the SEC Trying to find out if that's the case But then what about coinbase the most Compliant why did the SEC let coinbase Go public if they were not up to the SEC Rules even going back to 2021 when we Became a public company you know before Becoming a public company you have to Disclose everything about your business In depth there was many back and forth Revisions of our S1 and frankly you know They they had every all the knowledge Then and they allowed us to become a Public company and just like that the Sec's Trap may have been set because Understand the SEC allowing any company To go public is not the SEC approving a Company there's a difference between Allowing and approving when you spoke Just earlier about the IPO and the IPO Process and the back and forth that you Had with the SEC I think implicit within What you were saying was that they Approved us as a business and yet the Prospectus itself as you know also says Very clearly that effectively the SEC Has not opined on the underlying Business itself and in fact that the Company can't actually legally say Publicly that

That the SEC has do you agree with that Well they allowed us to become a public Company understanding the S1 right and So I feel like that's our moment to be Totally transparent with them show them Everything about our business and how it Operates and so it's not great to have a Regulator sort of come back later and Say actually we changed our mind um We had John Stark their former SEC Office of Internet enforcement chief for 11 years he was on earlier he said it's Very specific but in the IPO the SEC Does not bless does not approve these Things and it says very specifically They could come back and say that there Is additional regulation that's required Or additional disclosures or additional Filings and I think what they're very Specific about is you call yourself an Exchange you call yourself a broker Dealer when it comes to prime those are Things that you need to register for if You're going to be you know either an Exchange or a broker dealer just like The NASDAQ or the NYSE would have to and That's exactly where we stand a couple Points one is that if you're trading Commodities you know that doesn't Necessarily apply right we have actually Gone out there and acquired a Broker-deer license because we wanted The ability to trade crypto Securities There's actually I think there could be

A big robust Market of crypto Securities Trading in the US even though we don't List any Securities today and by the way I think you're right the regulator does Have the right to come you know edit Their thinking at times and come back And say you know here's a new set of Rules and great we'd be happy to follow Those the issue in this case is that We're getting conflicting statements From The cftc Head and the SEC head and Then the statements from the SEC are are So you know out such an outlier they're Saying everything other than Bitcoin is A security well that's not our Interpretation of the law that's not What the law says and so and that's not What the position of every other country Around the world their financial Regulators is taking and so I don't Think we really had a choice honestly we Had to go to court to really see if this Otherwise this industry is just not Going to exist in the United States well Yesterday when Gary Gensler said we Don't need more digital currency Remember Said now launches next month the fix is In and the deck is rigged this has Always been the plan look I'm not going To go into any one set of conversations Between the agency and a company but We've had discussions with literally Dozens of crypto incumbents including

The ones that you just mentioned and What we find is this is a field that's Built the whole business model is built On non-compliance with the U.S Securities laws and we're asking them to Come into compliance and they're going a Bit of catches if you can no no no no no Gary Gensler because coinbase wants to Comply that is a regulation by Enforcement approach and you know we met With the SEC 30 times in the last year They never gave us a single piece of Feedback about what we could be doing Better we just got silence and when we Asked them how would you like us to Register you know we have this dormant Broker-door license could we activate That we got we really got silence and so It's not appropriate for the regulator To come back And and do an enforcement action if we Don't have a clear rule book and what This has all been building towards fed Now launching next month think of this In basic terms like a digital dollar Like a Bitcoin only not decentralized Totally permissioned with zero privacy And 100 manipulated by The Regulators us The launch of the FED now service which Is slated for July of this year could Have Monumental impacts on U.S payments And some features of this is a clear Improvement from the archaic Swift System we have today the FED now service

Will facilitate faster payments via Instant irrevocable transaction Settlement making funds available to the Payee in near real time additionally It's core clearing and settlement Features are available 24 7 365 and the FED now service will be introduced in Phases with new features and Enhancements released over time it will Utilize the ISO 20022 standard and only Cover domestic payments to start so Notice how they take out the Old Guard And put in the new the promotion of Cbdc's has begun not just in America not Surprisingly a country famous for Freezing protesters bank accounts is Leading the way here at the Bank of Canada we're exploring the possibility Of issuing a digital version of cash not To replace cash but to ensure Canadians Always have access to a safe stable and Official payment option in an Increasingly Digital World you may be Thinking I don't need a digital Canadian Dollar right now and you'd be right but Canadians may need one in the future So the bank has to be ready if and when Parliament makes that decision and Justin as of this morning the U.S District Court has issued a summons for Binance CEO Shang Pang Zhao over SEC Action and according to the summons cz's Current residential address is in the Mediterranean island nation of Malta

I've personally heard he may be in Dubai Maybe he's in Malta truly nobody knows But looking at the summons it does not Appear that this has been marked as Served probably because they can't find Him but if they ever do the company CEO CZ won't necessarily have to appear in Person however he is legally required to Respond to the summons once served and Per the document once the summons is Served binance and its CEO will then Have 21 days to respond if you fail to Respond judgment by default will be Entered against you for the relief Demanded in the complaint make sure you Click subscribe if you want to stay up To date on this because crypto Will Survive but self-custody has never been More important just in binance US Announces a plan to de-list over 100 Plus trading pairs mainly with tether And has paused OTC trading now the Biggest silver lining in all of this is That crypto is not going away and the SEC Crackdown on binance and coinbase Surge defy trading volumes over 444 Percent my brother and I are speaking at The web3 Gaming Expo in Pasadena Tomorrow link down below for 20 off grab Your tickets link down below and then of Course 50 off the block down Festival in Portugal in July awesome interview with The conference founder

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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