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 like 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’re keen on or hate crypto (as with something in enterprise), there ought to at the least be clear and publicly acknowledged guidelines to play by, no?

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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 like 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 chance to make a Lion King analogy?”

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

However there is a deeper concern right here:

See, the SEC cannot move 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 corporations with lawsuits – with out legally contradicting himself.

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

Which leaves us scratching our heads…

Trigger whether or not you’re keen on or hate crypto (as with something in enterprise), there ought to at the least be clear and publicly acknowledged guidelines to play by, no?