The US will hold presidential elections in November and has been ruled by Democrats for four years crypto- He made money live a nightmare. We’ve seen Biden’s tax proposals, some Democrats’ nonsense that cryptocurrencies are the source of all evil, and much more. Today, Gensler is in a cold sweat because he discriminated against cryptocurrencies.
SEC and Cryptocurrencies
SEC Member Peirce made statements today slamming Gensler, his boss. All members are speaking in Congress and Gensler is in a cold sweat. Of course, it was known that the upcoming elections would push Republican members to such a stance. Although Uyeda and Peirce have criticized their institutions before, this is the first time they have humiliated Gensler in Congress this much.
Representative Tom Emmer took aim at Gensler, saying the agency abused its enforcement tools, baiting even companies willing to comply only to hit them with enforcement actions. He called Gensler the most destructive, lawless president in history.
“The SEC has never had such a destructive and lawless chairman in its history. Crypto “You made up the term ‘asset security’ and it’s nowhere in this statute. You used that term as the basis for your entire enforcement fight, but your lawyers withdrew it in court.”
Rep. Nickel lashed out at Gensler for undermining innovation.
“Web3 “You have single-handedly set us back years with your attitude towards this technology and its transformation.”
Last Ripple 
$0.589073 Following the defeat, the SEC’s crypto securities story took a major hit. Additionally, 42 members of Congress called on the SEC to allow banks to provide crypto custody services. BNY Mellon recently received an exemption from SAB121 that would allow this.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
