Gary Gensler Warns Crypto: Disliking Not Same As Not Receiving

Also Read: Bitcoin, Ethereum To Rise Amid Positive US Fed & Inflation Data or Fall As Market Makers Exit

Interestingly, the SEC Chair spoke about the need to protect investors, saying the Crypto Markets should not be allowed to harm them. In his speech, Gensler mentioned a 2018 conversation by Binance’s then Chief Compliance Officer Samuel Lim with a colleague about how the crypto exchange is operating as an unlicensed securities exchange in the the United States. The same was included in the SEC’s recent complaint against Binance, which alleged it of lying to regulators.

Gary Gensler Warns Crypto Market, Again

Gensler reiterated in his opening remarks that most cryptocurrencies qualify as securities by the virtue of meeting the investment contract test. However, the SEC Chair made it a point to warn that lack of compliance could lead to more and more anti-crypto enforcement actions. He said, “not liking the message is not the same thing as not receiving it,” indicating that the market participants are well informed about the status quo. Apparently, this is an attempt to shield the SEC’s arguments in the many crypto lawsuits that may involve the stance of ‘lack of clarity’ over regulations.

“When crypto asset market participants go on Twitter or TV and say they lacked “fair notice” that their conduct could be illegal, don’t believe it. They may have made a calculated economic decision to take the risk of enforcement as the cost of doing business.”

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Exchange Affiliate Programs In 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

Meanwhile, the digital assets market participants will be anticipating the public release of Hinman documents in the XRP Vs SEC lawsuit, on June 13, 2023.

Also Read: Binance To Face US DOJ’s Criminal Charges Or Its Just A FUD: Ex-SEC Exec Hints

Comments

Post a Comment

Popular posts from this blog

Ethereum (ETH) Rallies On BlackRock ETF Filing: Next Stop $2500?

Image
After BlackRock filed for an Ethereum ETF spot, ETH jumped above $2,100. Ethereum and Tron’s founders deposited large sums of ETH onto exchanges. ETH was overbought but an increase in buying pressure could drag it up to $2,500. After enduring a series of bashings from the crypto community, Ethereum (ETH) finally broke out and jumped above the $ 2,000 psychological resistance. The price rise was connected to the disclosure that leading investment firm BlackRock had filed for an ether ETF. The development resulted in an increased demand for ETH, thereby positively impacting the price action. At press time, ETH changed hands at $2,121, according to data from CoinMarketCap. Following the surge, many market players are now calling for ETH to reach $2,500 and beat down the dominance of bitcoin (BTC). Big Players Move ETH Another interesting development that occurred after the price increase was revealed by the smart money tracking platform Lookonchain....
Read more

Shiba Memu: $3M in presale screams buy now for this AI-powered meme

Shiba Memu brings AI to the crypto meme world. The project has so far raised more than $3 million from investors. SHMU’s price during the presale could be a huge bargain – priced at $0.028450 per token today.  As the cryptocurrency market continues to play out the choppiness expected before the next bull cycle, analysts say this could be an ideal time to play out opportunities in the altcoin market. Investors are likely to consider several tokens offering an excellent buy-low scenario, and one place to look for the #1 contender for crypto gem of the year is the presale market. Shiba Memu (SHMU) is among a few cryptocurrency projects that have attracted massive attention and interest from investors. The $3 million presale raise for this token so far suggests savvy investors know a thing or two about its potential.  Here’s what you might want to know about Shiba Memu. What is Shiba Memu? $SHMU isn’t just another crypto meme...
Read more

U.S. DOJ indicts eight Chinese firms for using crypto in fentanyl trade

The U.S. Department of Justice (DOJ) has unveiled eight indictments against Chinese companies and their employees involved in making and distributing potent synthetic opioid fentanyl . According to the justice department, these companies may have used cryptocurrency, along with other payment methods, to conceal their identities and financial transactions. Justice Department Announces Eight Indictments Against China-Based Chemical Manufacturing Companies and Employeeshttps://t.co/f37okHaa6z — Justice Department (@TheJusticeDept) October 3, 2023 Two individuals, Qingsong Li and Chunhui Chen, linked to Hebei Shenghao Import and Export Company, were found to hold wallets used for remittances related to precursor chemicals. Another individual, Wei Zhang, associated with Hubei Guanlang Biotechnology Company, allegedly operated a crypto wallet facilitating transactions for fentanyl precursors and opioid additives. You might also like: Bitcoin and tether accepted by Chine...
Read more