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TimeStamps:
00:00 Intro
00:36 Gary Gensler Hearing Today: Is ETH a Security?
04:53 Congress Calls For Gary Gensler’s FIRING!
06:42 Gary Gensler Blames Crypto for Silicon Valley Bank’s Failure
07:49 Final Thoughts
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You're sitting your chair now to make an Assessment under the laws as exists is Either a commodity or a security okay I Want to share with you an absolutely Wild video of SEC chair Gary Gensler Today being asked a simple question is Ethereum a security in the sec's eyes You are the SEC it is literally your job To answer well this is the video we all Want to see Gary Gensler is physically Shaking with his inability to answer if Ethereum is a security while he gets Absolutely dismantled watch Gary's hands For the shaking and make sure you click Subscribe for daily updates on the Crypto Market ether is one of the um Most popular digital assets and powers Of ethereum blockchain Back in 2018 then SEC Corporation Finance director Bill Hinman stated they Believe ether was not a security Last month cftc chair uh Benham Expressed his view that ether is a Commodity The State Attorney General of New York Asserted in a court filing last month That ether is a security Clearly an asset cannot be both a Commodity and a security do you agree Um I I it actually all Securities are Commodity under the commodity and Exchange act it's that we are excluded Commodities but I would agree that a Security cannot be also an excluded
Commodity and an included commodity I'm Sorry chair just to talk about the Commodity exchange act more precisely Okay so do you recognize uh how would You categorize either then Look I think that the general sweep of What Congress did not just in the 30s But as amended I'm asking you you're Sitting your chair now to make an Assessment under the laws as exists is Either a commodity or a security Without speaking to anyone I know you've Repeatedly said you're not going to Speak to one except you've spoken to one Bitcoin so I'm asking you to speak to a Second one the second largest market cap Here and speaking to the tokens there's 10 to 12 000 if there's a group of Entrepreneurs I'm asking about one Public is anticipating a profit based on The I'm asking a specific question chair Gensler I said this in private this Should be no shock to you I'm asking This question is it an is ether a Commodity Or security and again it depends on the Facts and the law and if there's a group Of I'm asking about the facts in the law Sitting in your seat and the Judgment You are making and so uh Mr chair I Think you you would not want me to Prejudge because you have prejudged on This you've taken you've taken 50 Enforcement actions we're finding out as
We go as you file suit as people get Wells notices on what is a security in Your view and your agency's view I'm Asking you a very simple question about The second largest digital asset what is Your view and my view is is if there's a Group of individuals in the middle Middle that the public isn't all right So let me just ask a second question do You think it serves the market for an Object to be to be viewed by the Commodities regulator as a commodity and The security is regulator to be viewed As a security do you think that provides Uh safety and soundness for for for the Products do you think it provides Consumer protection do you see do you Think it serves the value of innovation I think no should be a very simple Answer for you here I think that Uncertainty is bad is it not and I think That Congress has said that there's one Agency that secured as an Exchange Commission under this committee you Won't answer my question and you're the Head of that agency so give me a break Come on I'm answering it in the generic Because you would not want me to speak About any one set of facts and Circumstance Okay so But you've already spoken have you said Anything about Bitcoin Uh my predecessors and the agency itself Has spoken to them okay but you're not
Willing to do the same about ether Okay so let me just step back there's a Lack of clarity here in the marketplace Can you at least agree to that I think That the clarity is there the law is Clear that right so let me let me let me Be explicit about this the market Doesn't see it your regulatory actions And the cftc's regulatory actions say That there's a great deal of uncertainty Here it is the intention of this Committee to fix that uncertainty and Actually Wow Gary Gensler the SEC only has one Job to protect retail investors and he Can't give simple answers is ether Security doesn't answer is ether Security doesn't answer is ether Security doesn't answer but have you Given sufficient Clarity yes physically Painful to watch and again I watched This whole hearing today so you don't Have to I drop a video every single day Keeping you informed about crypto and While I'll finish with possibly the Biggest clip Gary speaking about crypto In general listen to some Congressional Representatives turn on Gary and call For his resignation slash firing but Chairman ginsler your record of failures To protect investors in abuses of power Make it clear that we need to Restructure the Securities and Exchange Commission the failures are many but let
Me cite some of the abuses you average More than two rules proposals a month You inappropriately provide Inappropriately short comment periods You have unworkable and unlawful ESG Disclosure mandates on the market you Have essentially a hotel California rule For crypto where you can check in Anytime you like but you can never leave You have endless Discovery with no Resolution and no Clarity for the Captives in the market you have Unworkable proposals for overhauling Equity Market structure a de facto ban On crypto through proposed custody rule If High staff turnover unhappy people Leaving your office in unhappy companies And capital leaving our country To correct a long series of abuses I'm Introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the role with an Executive director that reports to the Board word where all authority would Reside former chairs of the SEC will be Ineligible under my proposed Bill and This isn't just my take it resonates Across the political Spectrum the American people want Democratic access To Capital Retail investor participation You can't just exclude retail investors From markets and claim it's for their Own good our markets need to function And flourish
Be sure to click the like button to Support me support this content and in Today's Final clip watch Gary Gensler Blame crypto as the cause of Silicon Valley Bank's failure I have about 35 Seconds is there anything you'd like to Share with us to if I yield my last 30 Seconds to you Well I if I could just note something About you you mentioned you're hearing About the recent events in the markets And I would note there were three banks That failed uh in those handful of days This last those four or five days and Two of those Banks the first and the Third that failed silvergate and Signature were engaged in the crypto Business I mean some would say they were You know crypto Banks and the third the Biggest Silicon Valley Bank actually When it failed you saw this Countries the world's second leading Stable coin Uh had three billion dollars involved There d-pag so it's interesting just how This was all right thank you narrative As well and my time is up thank you Mr Chair wow and by the way I don't need Gary Gensler to be ultra bullish but What we do need is just some basic Clarity if you think ethereum is a Security tell us and more importantly Tell us why I would love to hear your Opinion on this down below let's all
Check the comment section and also just A gentle reminder that ticket prices do Increase for Bitcoin 2023 awesome Conference increase in three short days So use code altcoin daily for 10 off Your ticket link down below see you Tomorrow
