SEC

“No, yeah, they're filed with the SEC now.”

“Today the SEC announced that they will allow gig working companies to give stock to employees as part of their compensation, up to 15% of their compensation.”

“I actually think one of the best Trump appointees has been Jay Clayton. And I actually think Jay Clayton has done an incredibly good job.”

“I think what's going to happen is you're, I think you're going to continue to see deregulation in areas that are benign and non-controversial. So I think the SEC the FCC, I think all of these places you'll see movement. I think you'll probably actually see a l…”

“Yeah, well, so the fine wasn't for gamifying Robin Hood. It was for Payment for order flow and business model related related things. The gamification one is the Massachusetts securities securities one, which is a separate thing.”

“Even actually the biggest contributor to Chesa right now is a guy who's under SEC indictment for the Ripple scandal.”

“I don't think they're going to be able to maintain the status quo of a hundred years ago, the statutes that they're citing. I think that's going to either get knocked down in court or going to be technologically invalidated.”

“I actually think this whistleblower may make billions of dollars.”

“Utility tokens with, you know, laundry mat tokens or tickets to the opera, and he said entrepreneurs are choosing to perceive their tokens as utility to sidestep regulation and that, here's the quote, they are highly speculative investment tokens for people wh…”

“This certainly feels like a security to me, and I would think the SEC should get involved in regulating this.”

“Structurally, the demo, the democratic norms inside of a Dow, in many ways, make it much harder to govern inside a regulatory framework. And it does set up A very binary decision by the SEC and US regulators, which unfortunately, they're not going to go and be…”

“The SEC has actually now introduced legislation. It was in February that basically is going to try to uncover all of this nonsense. And so you'll have to be much more transparent.”

“We need Congress to pass some legislative framework that puts the puck in one side of the arena, a rink or the other. And otherwise, otherwise all this gray is going to exist for a long time.”

“And I think the SEC now that everybody's lost their money is going to just tick off one firm after another, and it's going to be massive settlements. It's going to be three or four years of litigation.”

“So if the SEC is really, and the DOJ is really going to take this FTT token issue seriously, and what happened to FTX? They're going to start to look at a bunch of other tokens and token sales, and you're going to end up looking at some very well-known venture…”

“What I would like to do is take an extra step, which is you should hold these folks accountable the same way you'd hold an insider accountable, which is almost to the effect of like, when you put out this screed, If you make money from it should sit in escrow …”

“I think it's hard to argue that there isn't a concerted effort now to crack down. On crypto by a wide variety of government agencies and authorities, starting with Gensler at the SEC, who seems incredibly hostile to crypto.”

“And so they're coming down hard and they're going to go and systematically dismantle the largest actors and they're going to go through the value chain. So I think the obvious place that they're looking now or. The exchanges, they'll look at the custodial serv…”

“That said, I just don't think that there's a lot of political support to visit this issue right now. And so unfortunately, I'm pretty skeptical that you're going to see any form of legislation pass. I unfortunately think that The sec has by and large put the e…”

“I think the motivation is to basically end crypto as a potential competitor to fiat money in the United States.”

“I think the Lena Conn thing is very different. I think this was a nuanced argument that the SEC made that required a highly sophisticated interpretation of securities law, and you're supposed to go to the courts for that. I think what the FTC has been doing is…”

“If you basically come out and say that there's no such thing, As a token that every single token is basically a security, then that's the end of crypto as a potential center of innovation.”

“I think that's what's going to happen now. If ripple wins this, or, you know, if this ripple thing does work out appeals, whatever, then the standard operating procedure is fighting, no settlements.”

“Yeah, and it really handcuffs the SEC. What are they going to do about Coinbase and every other exchange? I mean, if they're not selling securities, I think Coinbase and everybody else has always maintained they're selling tokens. This was the fulcrum argument…”

“There is not currently a way to register, and so, they've been sort of talking out of both sides of their mouth, and then saying, hey, just come and register, and then you see these exchanges come in that have never traded a single coin as, like, you know, the…”

“The SEC has gone zero for three in the courts.”

“What's happened, sort of, is that we've created these agencies, and because they can just send subpoenas to everybody, or publish these guidance letters, you know, this is kind of the administrative state, if you will they are de facto creating laws.”

“The settlement option on the table was to essentially delist everything other than Bitcoin, and so that would have been the end of the industry in the US.”

“Unfortunately, we have a regulator the chair of the SEC, who's kind of weaponized the agency for his own political purposes.”

“There was only one person who was named as being aware of the misconduct, and there was only one person who was fined and held accountable by regulators. In fact, he was fined more than the company.”

“I was just trolling Gary Gansler. Yeah, I was just trolling Gary Gansler because it's fun to do.”

“Look at the SEC with Gary Gensler. The guy's a moron.”

“The point there is he has an approach that is regulation through litigation. He's going to sue you first, ask questions later, and hope that the result of that litigation becomes a rule that everybody else has to follow.”

“Now, I've literally talked to Kamala Harris at lunch about this specific topic of litigate, regulation through litigation, and as a lawyer, she got it immediately, and she knows it's a problem, and they know, and she's even mentioned it in one of her speeches,…”

“So, look, the bottom line here is that I think that we are close to having clear rules of the road codified by Congress, which is what the crypto industry's been asking for, and the days of Gensler terrorizing crypto companies by issuing Wells notices without …”

“I think it's more likely than not that people are going to go market bullshit securities in private markets and rip poor people off even worse.”

“Ding dong. The witch is dead. Now we're going to be moving forward with the new SEC.”

“Crypto companies would tell me they would go see the SEC. The SEC would tell them nothing about what the rules were, but they would have enforcement people in those meetings just writing down everything they would say. And the next day they would get sent a We…”

“He's a really pro, actually, more Americans being able to invest in privates, private equity, et cetera, and he's given speeches on it in the past.”

“You know, he is forward leaning. He wants to create change. He wants to make IPOs great again.”

“He just deregistered his firm with the SEC.”

“So anyway, so I think we have to take a fresh look at all this, and we are going to do that here this year and with a proposed rule to address that.”

“So I compare it to two fortresses with no man's land in between. And so the no man's land is littered with the bodies of would be products that people were unsure. Like, is it CFTC? Is it SEC? And the crossfire between the two just killed the products.”

“That is part of my program for this year and going into next is to go through our rule book. We need a spring cleaning. We need to clean out the attic of the basement and the garage, and to really look at things. Unlike the agency has ever done before with a r…”

“We're working with the department of labor and the treasury department to address this.”

“And we are going to come out with a proposed rule and seek comment on it.”

“We have a memorandum of understanding that the two agencies are working on hammering out and getting In place that will allow us to share information, coordinate on specific issues, and make sure that we don't have this turf battle between the two agencies goi…”

“So my dream is one day that, and I hope we can achieve that here in the next couple of years to have like a super app approach where, you know, there is, okay, blurred lines between the two, but we've coordinated our approach.”

“From my perspective one thing for new products that the CFTC has is called self-certification. So for repetitive products that you know, once you go ahead and approve the general type of framework for it then it's self-certification by the markets and by the p…”

“T. Rowe, they all can, per SEC rules, allocate up to 15% of their funds into privates.”

“And they're going to have a sophisticated investor test, something I've been talking about for a long time that would really democratize the way Invest America has Access.”