SEC

“The Fed is denying licenses to crypto banks and Treasuries making negative statements about crypto and then SCC is attacking and all these CFTC is attacking, all these guys are attacking at the same time.”

“Unfortunately the SEC started by looking at crypto as maybe the ostrich with the head in the sand, as was their attitude. Like maybe this stuff will go away by the time we lift our head out of the sand. That obviously didn't happen. And then came the very basi…”

“Commissioner Peirce launched a what's called, we call the crypto task force. Now it's turned into project crypto because we're infusing it throughout the agency rather than just you know, a small group of people trying to figure that area out. But with the goa…”

“So we are undertaking, and there's an executive order the president signed, asking the Department of Labor and us to, ah, you know, to make it so, to look at these various rules and, ah, and to try to see what makes sense for you know, normal people to be able…”

“That's our goal is to come out with rules that differentiate between what's the stock, Security, and what is a commodity where the CFTC, the Commodity Futures Trading Commission, can oversee. So meme coins and all that, and stable coins, those are not for the…”

“And so we have shut down so far about a dozen of them to protect American investors from getting into it.”

“The trouble with the past practices of the, Commission is that it drove trading of crypto assets offshore.”

“So, and so what we're doing is so I made it explicit that the commission will not turn away and the staff will not turn away those sorts of would be IPOs if they have a bylaw With either of those two provisions.”

“I have two younger brothers and one of them, there were multiple, Kind of quiet SEC investigations. They never found anything wrong. And I hired the guy used to run the SEC in San Francisco to look into it. What's going on? He said, he came back kind of sheepi…”