🚨 Elliptic refutes the WSJ’s methodology on the recent crypto illicit finance article. It’s time for
@SenWarren
to apologize and for the WSJ to retract the story. 1/6
So let me get this straight… the sale of a Pokémon card is not a security but the sale of a tokenized Pokémon card could potentially be an issue?
Seems like Gary Gensler is once again mumbling his words under pressure…
.
@GaryGensler
claims he does not use personal email at the SEC, but the CFTC IG found he "used his personal email consistently from his arrival at CFTC in 2009 until the collapse" of MF Global
After SBF was found guilty of one of the biggest financial frauds in history, it's time to reexamine
@GaryGensler
's failure in allowing it to happen right under his nose
.
@GaryGensler
: A govt shutdown is horrible, but I didn't hold in person meetings for 1,300+ days
"More than 1,300 days after the SEC’s last in-person, public meeting, the Wall Street regulator is back."
Former Israeli financial regulator Dr. Shlomit Wagman rebuts
@SenWarren
's false talking points: "Crypto is currently a very small part of the puzzle ... Most of the funds are still being transferred by the traditional channels that we all know from the past"
.
@norbertjmichel
: “Developing sound financial policy requires a clear‐eyed assessment of crypto’s risks and benefits, and shamelessly exploiting an otherwise unrelated human tragedy does not fit that bill.” 6/6
Despite what Gary Gensler thinks, he is NOT a government of one.
He is a bureaucrat who answers to Congress, and I look forward to having him before the
@FinancialCmte
today.
🧐
@GaryGensler
's financial disclosures are raising eyebrows. How can we trust a regulator whose net worth has skyrocketed while receiving govt salaries to make impartial decisions?
.
@PerianneDC
: “The blockchain makes concealing illicit funds through cryptocurrencies ineffective. The record must reflect that cryptocurrency isn’t the currency of choice for criminals.” 5/6
#SEC
Commissioner
@HesterPeirce
steps into the hot seat on
@SquawkCNBC
offering insights into the SEC's approach to demystifying the crypto realm and charting the future course. Here are some of our favorite moments from the discussion 🧵:
.
@WSJ
: FDIC Chair, Known for Temper, Ignored Bad Behavior in Workplace
"Gruenberg and his top deputies have been involved in decisions over high-level examples of alleged sexism, harassment and racial discrimination in which the agency didn’t take a hard line with individuals
.
@jenniferjschulp
and
@JackSolowey
: "The SEC shouldn’t fall prey to the idea that retail investors are 'dumb money.' Retail investors have been outperforming the S&P 500 for the past decade ... The SEC’s predictive data analytics rule is a flop."
.
@RepWileyNickel
(D-NC) takes aim at Biden admin: This week's GAO decision on
#SAB121
is "just the latest in a series of losses for the SEC,"
@GaryGensler
"will actually make digital assets less safe"
.
@CFTCbehnam
discusses the importance of Congress playing a "significant role" in providing a regulatory framework for crypto, while
@GaryGensler
continues his failed regulation by enforcement approach
Gary Gensler declined to say how the SEC will respond to a court’s ruling that the recent stock buyback rule was based on flawed economic analysis. The court gave the SEC 30 days to fix it. That was 7 days ago.
.
@ARedbord
discusses the strict compliance measures in place at major crypto exchanges to combat terror financing and the importance of clear regulations to ensure on and off ramps are safe
WHY BREAK WHAT ISN’T BROKEN: “A marked lack of regard to the potential costs (or indeed constitutionality) of his rulemakings is one thing, but what truly characterizes Gensler’s approach is a poorly articulated need for the existence of these rulemakings..."
From
@AAF
Flashback: Before Binance paid a $4B settlement and CZ pleaded guilty to money laundering charges,
@GaryGensler
invited him to MIT and considered joining Binance as an adviser
.
@GaryGensler
refuses to acknowledge his recent losing streak in the courts.
“There's so many hucksters and fraudsters in this field … I wish something the court could say would bring compliance sooner.”
.
@JamesBroughel
on the
#SEC
’s overreaction to recent events: “The SEC risks cracking down on beneficial new technologies that, if anything, democratize trading beyond the confines of the Wall Street elite.”
In case you didn't think
@GaryGensler
was already looking for his next role,
@axios
speculates what all his headlines could be for in a rundown this morning
When a close-district Dem sounds alarm on
#Gensler
, everyone should be paying attention.
@RepHorsford
raises concerns for the impact on small businesses trying to chase their dreams nationwide. These policies affect the American ecosystem!