What’s lost on many people interviewing Gensler (no offense intended) is that he keeps saying the platforms and exchanges need to come in and register. But you only register w/ the SEC if you’re selling securities. Gensler is thus calling all of these assets securities.
https://twitter.com/jungleincxrp/status/1493794163661230084
If @jespow met w/ @GaryGensler & the SEC and he listed out every crypto asset offered on the @krakenfx platform and asked:
“Which of these assets do you believe are securities and I will remove them”, he would be told by the SEC:
“We do not provide that type of guidance.”
“Which of these assets do you believe are securities and I will remove them”, he would be told by the SEC:
“We do not provide that type of guidance.”
Yet, Jesse or @JpThieriot or any other CEO of a digital asset platform, is expected to register that they are selling securities even if they do not believe they are selling securities.
After leaving the meeting w/ the SEC, Jesse can expect a subpoena, followed by a lawsuit.
After leaving the meeting w/ the SEC, Jesse can expect a subpoena, followed by a lawsuit.
@HesterPeirce along w/ Elad Roisman have objected to this practice. I call it extortion. Gensler is trying to push this narrative in order to regulate the digital asset space instead of the CFTC. It is time for the exchanges to go on the offensive and collectively sue the SEC.
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