SEC’s Gensler Doesn’t See Cryptocurrencies Lasting Long

SEC’s Gensler Doesn’t See Cryptocurrencies Lasting Long

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  1. tldr; Securities and Exchange Commission Chair Gary Gensler said he doesn’t see much long-term viability for cryptocurrencies. He likened the thousands of cryptocurrencies in existence to the so-called wildcat banking era that took hold in the U.S. from 1837 until 1863 in the absence of federal bank regulation.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. He is right though. This is another bubble you don’t need a damn blockchain for every single utility. You only need decentralized blockchain if you solving something big like Money. All other staff can be done in centralized way and they just need to be companies that are regulated

  3. Well I am going to get the popcorn.

    Unfortunately, given the limited time and attention of the SEC, I note that they can’t be bothered to go after Wall Street and fatcats

    But nope, going to attack bitcoin and altcoins. A very telling kind of priority.

    Gensler, please spend some time investigating hedge funds getting 0% loans to go leverage long and short on meme stocks or something. Don’t you have some fraud to go investigate?

    Please note the revolving door between the regulators and the industries they regulate (cough BitLicense cough)

What do you think?

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