{"id":49407,"date":"2021-09-14T11:58:13","date_gmt":"2021-09-14T08:58:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49407"},"modified":"2025-09-02T12:31:08","modified_gmt":"2025-09-02T09:31:08","slug":"comment-gary-gensler-to-launch-a-crusade-against-bitcoin-exchanges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/comment-gary-gensler-to-launch-a-crusade-against-bitcoin-exchanges\/","title":{"rendered":"Comment: Gary Gensler to launch a crusade against Bitcoin exchanges"},"content":{"rendered":"<p>Crypto exchanges have listed unregistered securities, and regulators intend to combat this. That is the leitmotif of the forthcoming September 14 testimony by <span data-descr=\"US Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> Chairman Gary Gensler before the United States Senate.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gensler\u2019s statement to the Senate tomorrow:<\/p>\n<p>1. Crypto exchanges are selling what we believe are securities;<br \/>2. \u00abMake no mistake,\u00bb we are coming after crypto exchanges;<br \/>3. There will be no warning shots or \u00abclarification\u00bb first.<\/p>\n<p>The glove was thrown, and now\u2026 the Gauntlet. <a href=\"https:\/\/t.co\/JeyfvICJoI\">pic.twitter.com\/JeyfvICJoI<\/a><\/p>\n<p>\u2014 Jeremy Hogan (@attorneyjeremy1) <a href=\"https:\/\/twitter.com\/attorneyjeremy1\/status\/1437487301601411074?ref_src=twsrc%5Etfw\">September 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u00abRegulator will avoid &#8216;warning shots&#8217; and &#8216;clarifications&#8217;\u2026the gloves are off\u2026 now the gauntlets are on\u00bb \u2014 as lawyer Jeremy Hogan characterised the published transcript of the Commission chair.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abThe tone is more negative than his previous remarks\u00bb<\/em>, \u2014 commented Kaitlin Long, founder and CEO of the Avanti cryptocurrency bank.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">GARY GENSLER testimony in front of Senate Banking tomorrow is out. Tone is negative\u2014more so than his previous remarks. Something else interesting\u2014instead of <a href=\"https:\/\/twitter.com\/hashtag\/stablecoins?src=hash&#038;ref_src=twsrc%5Etfw\">#stablecoins<\/a> he\u2019s calling them \u00abstable value coins.\u00bb Stable value funds are SEC-regulated so\u2026\ud83e\udd14<a href=\"https:\/\/t.co\/jPKawcLlas\">https:\/\/t.co\/jPKawcLlas<\/a><\/p>\n<p>\u2014 Caitlin Long \ud83d\udd11 (@CaitlinLong_) <a href=\"https:\/\/twitter.com\/CaitlinLong_\/status\/1437563807916871681?ref_src=twsrc%5Etfw\">September 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00ab\u041d\u0430 \u043c\u043d\u043e\u0433\u0438\u0445 \u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c\u0430\u0445 \u0435\u0441\u0442\u044c \u0434\u0435\u0441\u044f\u0442\u043a\u0438 \u0438\u043b\u0438 \u0441\u043e\u0442\u043d\u0438 \u0442\u043e\u043a\u0435\u043d\u043e\u0432. \u0425\u043e\u0442\u044f \u043f\u0440\u0430\u0432\u043e\u0432\u043e\u0439 \u0441\u0442\u0430\u0442\u0443\u0441 \u043a\u0430\u0436\u0434\u043e\u0433\u043e \u0442\u043e\u043a\u0435\u043d\u0430 \u0437\u0430\u0432\u0438\u0441\u0438\u0442 \u043e\u0442 \u0435\u0433\u043e \u0441\u043e\u0431\u0441\u0442\u0432\u0435\u043d\u043d\u044b\u0445 \u0444\u0430\u043a\u0442\u043e\u0432 \u0438 \u043e\u0431\u0441\u0442\u043e\u044f\u0442\u0435\u043b\u044c\u0441\u0442\u0432, \u0432\u0435\u0440\u043e\u044f\u0442\u043d\u043e\u0441\u0442\u044c \u0442\u043e\u0433\u043e, \u0447\u0442\u043e \u0441 50, 100 \u0438\u043b\u0438 1000 \u0442\u043e\u043a\u0435\u043d\u0430\u043c\u0438 \u043b\u044e\u0431\u0430\u044f \u0434\u0430\u043d\u043d\u0430\u044f \u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c\u0430 \u0438\u043c\u0435\u0435\u0442 \u043d\u0443\u043b\u0435\u0432\u044b\u0435 \u0446\u0435\u043d\u043d\u044b\u0435 \u0431\u0443\u043c\u0430\u0433\u0438, \u0432\u0435\u0441\u044c\u043c\u0430 \u043c\u0430\u043b\u0430. \u041d\u0435 \u0437\u0430\u0431\u043b\u0443\u0436\u0434\u0430\u0439\u0442\u0435\u0441\u044c: \u0432 \u0442\u043e\u0439 \u043c\u0435\u0440\u0435, \u0432 \u043a\u0430\u043a\u043e\u0439 \u043d\u0430 \u044d\u0442\u0438\u0445 \u0442\u043e\u0440\u0433\u043e\u0432\u044b\u0445 \u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c\u0430\u0445 \u0435\u0441\u0442\u044c \u0446\u0435\u043d\u043d\u044b\u0435 \u0431\u0443\u043c\u0430\u0433\u0438, \u0432 \u0441\u043e\u043e\u0442\u0432\u0435\u0442\u0441\u0442\u0432\u0438\u0438 \u0441 \u043d\u0430\u0448\u0438\u043c \u0437\u0430\u043a\u043e\u043d\u043e\u0434\u0430\u0442\u0435\u043b\u044c\u0441\u0442\u0432\u043e\u043c \u043e\u043d\u0438 \u0434\u043e\u043b\u0436\u043d\u044b \u0437\u0430\u0440\u0435\u0433\u0438\u0441\u0442\u0440\u0438\u0440\u043e\u0432\u0430\u0442\u044c\u0441\u044f \u0432 \u041a\u043e\u043c\u0438\u0441\u0441\u0438\u0438, \u0435\u0441\u043b\u0438 \u0442\u043e\u043b\u044c\u043a\u043e \u043e\u043d\u0438 \u043d\u0435 \u0438\u043c\u0435\u044e\u0442 \u043f\u0440\u0430\u0432\u0430 \u043d\u0430 \u0438\u0441\u043a\u043b\u044e\u0447\u0435\u043d\u0438\u0435\u00bb<\/em>, \u2014 \u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f \u0432 \u0434\u043e\u043a\u0443\u043c\u0435\u043d\u0442\u0435.<\/p>\n<\/blockquote>\n<p>In an interview with the Financial Times, Gensler noted that regulation <a href=\"https:\/\/u1f987.com\/en\/news\/gary-gensler-regulation-is-necessary-for-the-survival-of-cryptocurrencies\">is necessary<\/a> for the survival of cryptocurrencies.<\/p>\n<p>In May, he urged Congress <a href=\"https:\/\/u1f987.com\/en\/news\/gary-gensler-urges-u-s-congress-to-clarify-regulation-of-bitcoin-exchanges\">to bring clarity to the regulatory framework for the crypto industry<\/a>.<\/p>\n<p>Later, the head of the Commission stated that platforms offering access to tokenized stocks <a href=\"https:\/\/u1f987.com\/en\/news\/gensler-warns-stock-token-issuers-to-report-to-the-sec\">are required to report<\/a> to the SEC.<\/p>\n<p>In August, Gensler <a href=\"https:\/\/u1f987.com\/en\/news\/gensler-warns-of-tighter-regulation-for-defi-and-stablecoins\">warned of tighter regulation<\/a> of stablecoins and <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a>. He noted that for this the agency <a href=\"https:\/\/u1f987.com\/en\/news\/gary-gensler-sec-needs-additional-authority-to-regulate-crypto\">needs additional powers and resources<\/a> to do so.<\/p>\n<p>In the same month, the head of the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/sec-chair-calls-for-dialogue-with-bitcoin-exchanges\">urged Bitcoin exchanges to engage in dialogue<\/a>.<\/p>\n<p>In September, Coinbase\u2019s top management <a href=\"https:\/\/u1f987.com\/en\/news\/sec-threatens-coinbase-with-lawsuit-over-planned-crypto-savings-accounts\">disclosed information<\/a> about disagreements with the SEC regarding the announced crypto-saving accounts based on the USDC stablecoin.<\/p>\n<p>Earlier, regulatory troubles afflicted <a href=\"https:\/\/u1f987.com\/en\/news\/new-jersey-regulator-delays-september-start-of-blockfi-ban-on-new-bia-accounts\">BlockFi<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/sec-clarifies-brad-garlinghouses-liability-in-ripple-lawsuit\">Ripple<\/a>.<\/p>\n<p style=\" margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\">   <a title=\"View Gensler Testimony 9-14-21 on Scribd\" href=\"https:\/\/www.scribd.com\/document\/525180612\/Gensler-Testimony-9-14-21#from_embed\" style=\"text-decoration: underline;\">Gensler Testimony 9-14-21<\/a> by <a title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\" style=\"text-decoration: underline;\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" class=\"scribd_iframe_embed\" title=\"Gensler Testimony 9-14-21\" src=\"https:\/\/www.scribd.com\/embeds\/525180612\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-NTqz3dRd7tx3ODxbvVbV\" data-auto-height=\"false\" data-aspect-ratio=\"0.7729220222793488\" scrolling=\"no\" id=\"doc_31906\" width=\"100%\" height=\"600\" frameborder=\"0\"><\/iframe><\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchanges have listed unregistered securities, and regulators intend to combat this. That is the leitmotif of the forthcoming September 14 testimony by SEC Chairman Gary Gensler before the United States Senate. Gensler\u2019s statement to the Senate tomorrow: 1. Crypto exchanges are selling what we believe are securities;2. \u00abMake no mistake,\u00bb we are coming after crypto exchanges;3. There will [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":49408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,128,1230,26],"class_list":["post-49407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-sec","tag-us-congress","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49407"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49407\/revisions"}],"predecessor-version":[{"id":49409,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49407\/revisions\/49409"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49408"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}