Reading Gary Gensler go full-blown maximalist in the NYMAG interview is quite the read.
It sounds like they [the SEC] know the outcome of XRP's legal challenge will allow significant legal precedent. Should Ripple lose, expect a blanket securities designation on everything except bitcoin if Gensler's own words in the interview are anything to go by:
"The pre-1929 environment masquerading as disruptive innovation is coming to a close."
March is going to be one helluva month. From the debt fight, and mass Russian conscription, to the regulation fallout. I still give Binance a 50/50 chance of implosion.
This all leaves a bipartisan stablecoin framework to get fleshed, and I hope those get regulated to the point they're not just backed 1:1 in the Treasuries market—and causing demand there—but regulated to the point they're accepted everywhere as payment.
I think binance will cease operations as well and that will be what motivates EU and USA to ban crypto via overregulation caus first FTX, now Binance?? This must be stopped
Even tho they were the very people that let FTX and Binance get so big in the first place you can argue. But there is so much more to be said
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I completely disagree that he went "full-blown" maxi in the article. He said himself that he is trying to be tech agnostic and not even try to decide which risks consumers should make, but rather ensure that securities laws are followed so that investors are protected.
Did he teach a class at MIT about bitcoin? Yes? Did he admit he's not a maxi in that class? Yes.
He even says that he doesn't think micro-payments will radically change things.
I do think he will come around, though...
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"The pre-1929 environment masquerading as disruptive innovation is coming to a close."
source of this quote?
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and mass Russian conscription
Where did that come from 😆?
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Бинанс сделает очень красиво...
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