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The Breakdown
SEC Commissioners Are Fed Up with Gensler and SEC Policies
Mar 8, 2024
SEC Commissioners express frustration with Gensler's policies, criticizing SEC's handling of Shapeshift case. Lack of clarity in SEC regulations hinders innovation in crypto industry. Discussion on urgent need for clear regulations and investor protection. Impact of Ethereum classification as a security and crypto money in political races.
16:43
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Quick takeaways
- SEC Commissioners dissent criticized lack of guidance on crypto securities, creating uncertainty for innovators.
- Growing criticism towards Gensler's SEC policy approach highlights shift from safeguarding capital markets to controversial rulemaking proposals.
Deep dives
SEC's Ambiguous Crypto Policy and Shapeshift Settlement
The episode discusses the scathing dissent from SEC Commissioners about the SEC's enforcement policy, particularly focusing on the settlement with Shapeshift. Shapeshift was fined $275 million for being an unregistered securities dealer, although the SEC did not specify any tokens on the platform as securities. The dissent criticized the lack of guidance, creating uncertainty for crypto innovators.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode