Scar, Mufasa, and the SEC’s Gary Gensler

TL;DR

• Gary Gensler’s roadshow of ‘regulatory vagueness’ continued this week, after he gave a keynote on the Monetary Markets Convention on Monday.

• Very similar to Scar ‘stood prepared to assist’ Mufasa climb again up from the cliff’s edge, ol’ Gaz says the SEC ‘stands prepared to assist’ the crypto business come into regulatory compliance.

• However the SEC’s personal commissioner, Hester Peirce, has identified that there’s “no strategy to register” with the SEC (making compliance unimaginable).

• Whether or not you like or hate crypto (as with something in enterprise), there ought to not less than be clear and publicly said guidelines to play by, no?

Full Story

Alright, switching the theme from ‘thrilling’ to ‘aggravating’…

Gary Gensler’s roadshow of ‘regulatory vagueness’ continued this week, after he gave a keynote on the Monetary Markets Convention on Monday.

Very similar to Scar ‘stood prepared to assist’ Mufasa climb again up from the cliff’s edge, ol’ Gaz says the SEC ‘stands prepared to assist’ the crypto business come into regulatory compliance.

However the SEC’s personal commissioner, Hester Peirce, has identified that there’s “no strategy to register” with the SEC (making compliance unimaginable).

“Okay, however that is nothing new. Gary’s been towing that line for some time now. Did you simply take this as a possibility to make a Lion King analogy?”

We hear you – and yeah, the Lion King analogy was arduous to say no to…

However there is a deeper challenge right here:

See, the SEC cannot go legal guidelines. That is a job for judges and congress…

BUT! So long as Gary’s cautious to not make any clear public statements on what’s/is not a safety (outdoors of Bitcoin), he can slap a bunch of blockchain firms with lawsuits – with out legally contradicting himself.

So whereas this lack of readability fits the SEC, it is pushing US blockchain firms (and the innovation they drive) offshore.

Which leaves us scratching our heads…

Trigger whether or not you like or hate crypto (as with something in enterprise), there ought to not less than be clear and publicly said guidelines to play by, no?