The SEC and the US Government Want to Ban Crypto

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Gary Gensler says he should be the main regulator of crypto. And as the main regulator, my plan is mostly to ban it. Because as he says, it's pointless. There's no need for it. We already have digital finance. You don't need any capital assets outside of what the S&P 500 and the NASDAQ provide. It's called the SEC and the US government. How absolutely ridiculous.

Today Gary Gensler and the SEC officially filed lawsuits against crypto exchanges Binance and Coinbase. We break it all down and share some hot takes on what this means for the crypto industry as a whole.

------ 📣 ASYMETRIX | STAKE stETH NOW https://bankless.cc/asymetrix-pod

------ 🚀 Airdrop Alpha is waiting for you on Bankless.com https://bankless.cc/Alpha

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2

🦊METAMASK LEARN | HELPFUL WEB3 RESOURCE https://bankless.cc/MetaMask

⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum

👾STADER LABS | ETHX LIQUID STAKING https://bankless.cc/Stader

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/Toku

🎮IMMUTABLE | GAMING ECOSYSTEM https://bankless.cc/Immutable

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ CHAPTERS 0:40 Is This Lawsuit a Surprise? 2:35 Is This Lawsuit a Suprise? 8:41 An Attack On Crypto 12:05 The 4 Big Questions 17:06 Gary's Public Statements 22:20 SEC Charges Overview 27:47 Analysis on Coinbase 30:31 Brian Armstrong's Take 32:58 The Case Against Binance 38:08 David's Take on All of This 43:38 What "Securities" Are Effected? 48:41 News Price Impact 53:35 Where Does Solana Stand? 57:39 Is ETH The Next Target? 1:02:17 Does Anybody Actually Want This? 1:05:15 Twitter Takes 1:09:08 Gary's Icarus Moment? 1:11:10 Closing Thoughts

------ Resources:

Binance Sued https://twitter.com/BanklessHQ/status/1665744014081941506?s=20

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures