⚡️Today's Featured Summary Note⚡️
Immediately upon receiving a Wells notice from the SEC, @coinbase hosted a panel discussion through Twitter Spaces including key leadership:
@brian_armstrong (CEO)
@iampaulgrewal (CLO)
@faryarshirzad (CPO)
@karacalvert
@chrislehanetalk
A 🧵🧵
Immediately upon receiving a Wells notice from the SEC, @coinbase hosted a panel discussion through Twitter Spaces including key leadership:
@brian_armstrong (CEO)
@iampaulgrewal (CLO)
@faryarshirzad (CPO)
@karacalvert
@chrislehanetalk
A 🧵🧵
1/ The discussion centered around the recent SEC decision to enforce rules that don't exist, and their continuous lack of cooperation with @coinbase legal efforts.
2/ Coinbase And The SEC
@coinbase received a Wells notice from regulators, a notice that usually precedes an enforcement action.
Coinbase has proactively engaged with regulators and acquired licenses globally, including a CFTC license and a BitLicense in the US.
@coinbase received a Wells notice from regulators, a notice that usually precedes an enforcement action.
Coinbase has proactively engaged with regulators and acquired licenses globally, including a CFTC license and a BitLicense in the US.
3/ Despite multiple efforts, Coinbase has struggled to establish clear regulatory guidelines with the SEC.
Coinbase filed a formal petition with the SEC seeking clearer regulatory guidelines and acquired a dormant broker-dealer license.
Coinbase filed a formal petition with the SEC seeking clearer regulatory guidelines and acquired a dormant broker-dealer license.
4/ Crypto Industry In The US
The crypto industry is growing rapidly, with 50 million Americans holding #crypto, potentially influencing voting decisions.
The US is falling behind in the crypto industry compared to countries like the UK, Brazil, and Singapore.
The crypto industry is growing rapidly, with 50 million Americans holding #crypto, potentially influencing voting decisions.
The US is falling behind in the crypto industry compared to countries like the UK, Brazil, and Singapore.
5/ The SEC’s actions have been likened to a referee changing a game after it’s over, raising questions of fairness and consistency in regulation.
6/ The #crypto community has the power to make a difference by supporting pro-crypto legislation, engaging with elected officials, and promoting the growth of the industry in the US.
7/ Coinbase’s Compliance And Confidence
@coinbase will continue to operate as usual despite the Wells notice, as they are confident in their compliance process.
The company has shared their process with the SEC multiple times and was ultimately allowed to go public.
@coinbase will continue to operate as usual despite the Wells notice, as they are confident in their compliance process.
The company has shared their process with the SEC multiple times and was ultimately allowed to go public.
8/ Coinbase is frustrated with the lack of clarity from the SEC regarding which tokens or products might be the subject of their case against the company.
9/ Coinbase is confident in their ability to defend their claims in court, not just for themselves but for the entire #crypto industry.
10/ Policy And Legislation
Policy by enforcement is the worst way to develop a policy on transformational technology and innovations.
Political branches need to engage in a public process to develop legislation that everyone participates in.
Policy by enforcement is the worst way to develop a policy on transformational technology and innovations.
Political branches need to engage in a public process to develop legislation that everyone participates in.
11/ The enforcement action comes at a time when there’s a broad consensus that legislative action is needed for integrating new technology into the economy and society.
12/ #Crypto435 is an effort that aims to involve thousands of people in organizing support for crypto policies across all 435 congressional districts.
13/ Election Impact And Crypto Advocacy
Recent elections show a split in the democratic electoral process, with close races between Republicans and Democrats.
20% of Americans own crypto, which means 50 million potential voters who care about crypto-related policies.
Recent elections show a split in the democratic electoral process, with close races between Republicans and Democrats.
20% of Americans own crypto, which means 50 million potential voters who care about crypto-related policies.
14/ Crypto advocates exist in every district across the country, shaping the electoral process in upcoming elections.
#Crypto435 aims to provide tools for people to engage with elected officials and understand their positions on crypto.
#Crypto435 aims to provide tools for people to engage with elected officials and understand their positions on crypto.
15/ Message To The Crypto Community - What You Can Do
Recognize the importance of data in understanding the American public and consumer attitudes towards #crypto.
Recognize the importance of data in understanding the American public and consumer attitudes towards #crypto.
16/ Emphasize the need for change in the financial system, with a majority of surveyed Americans agreeing that major changes are needed.
Highlight the rapid growth of crypto ownership, with 20% of Americans now owning cryptocurrency.
Highlight the rapid growth of crypto ownership, with 20% of Americans now owning cryptocurrency.
17/ Encourage the #crypto community to actively participate in advocating for crypto innovation by sharing their stories and engaging with policymakers.
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revelointel.com
Crypto moves fast, time is money, keep up.
revelointel.com
Crypto moves fast, time is money, keep up.
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