Welcome back to the show everybody check Out these headlines and unfortunately The SEC continues its Terror Amongst the Crypto space suing another crypto Exchange we're going to hear from John Deaton Jeremy Hogan meta Lawman Ryan Sulcus and David Schwartz and you're Going to want all of it and by the way Cftc in the Bank of England working Together you're gonna want all that too And how about this xrp 17 to 27 how About somebody roll that beautiful intro Digital perspectives with Brad kimes Come on in Welcome back to the show everybody you Can follow us on Twitter and YouTube for Exclusive content right now it's 1.33 Trillion dollar market cap for crypto Good morning 1.9 up on the market in the last 24 Hours Bitcoin now back over 30 300 plus We see ethereum 2100 plus and that's 10.6 up on the seven day for ethereum a Tether right now 81.041 plus billion for tether market Cap watching it closely 52 cents for xrp At the moment we're up 1.6 on the 24-hour care for what you call progress If you haven't checked it out check out My sponsor I trust Capital here you can Invest in crypto gold silver using your IRA that's right the only thing better Than buying crypto at my house is buying Tax-free crypto and it's exactly what I
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All know what the drill is if you go in To see them looking for clarity they sue You anyway It is just unbelievable however there is A meeting today where Gary Ganser will Be called to carpet we'll see what comes To that but listen to this Okay later this morning the financial Services committee is going to be Grilling SEC chairman Gary Gensler on Documents they're looking for related to Charges filed against former FTX CEO Sam Bankman free join us right now with a Preview Financial Services committee Chairman Patrick McHenry good morning to You What are you looking for what are you Hoping to learn to get out of today's Session Well first uh I think we we want to Expose the rapid and aggressive Regulatory agenda that Gary Gensler has With 53 major rule makings by this Agency that cost the market has to bear And the economy has to bear for this and A really competitive world and the lack Of clarity at the same time that what do You mean by that with the digital asset Ecosystem What I mean by that if you have the his Two previous uh predecessors as chair of The SEC uh did half that number of Rulemaking uh there's a massive amount Of change this that this uh chair is
Trying to drive and it has a lot of Expense in the markets and he's giving a Limited amount of time for actually good Comments so we're going to have shoddy Rules that are very expensive on a mark On a market at a time where the rest of The world wants to take our Capital Markets I don't think it's a smart Agenda and I think it's really important That we expose that and at the same time He hasn't provided any sense of uh of Some way to operate for digital assets So they're going overseas and we're Losing competition we've got a lot of Competition in Asia and Europe around Regulatory regime that is sensible and We have no regulatory regime so those Are the things I want to expose this Morning I think they're very important For the American economy and it really Is but I'll tell you we'll see because It has been a lack of action and the Only thing we've seen thus far from Congress is a bunch of tweets it's on Twitter so that should scare us just as Much as Gary gensler's actions I believe Right but let's get back to this because It is important that we take a look at This David Schwartz says here SCC claims Buyers of Dash algo OMG tkn NGC and iht Have a reasonable expectation of profit Sounds like investment advice to me you Know it really does it sounds like That's investment advice doesn't it from
The SEC router John Deaton comments on What's going on here as he shares Mike Dudas right here who really goes after Him and if you don't know Mike dudas Investor have been into space a long Time but nevertheless Silvio macaulay's Uh algorand is a touring Award winner at MIT you will hear Gary Gensler when he was at MIT Celebrating it and how he worked with Them take a listen to this you can't Make it up governance is tough you could Create Uber or Lyft on top of a Blockchain technology today well maybe In five years you could it would be have The performance Sylvia mccallie's Algorand who's a touring Award winner at MIT that I work with um Sylvia's got a Great technology that has performance You could create Uber on top of it I Mean that's despicable this is the Person who's now suing them and the Exchanges and claiming that there is Security it's despicable John Deaton Says sitting here fantasizing about the Putative class of investors who Purchased an unregistered security Because they were persuaded by a former Cftc chairman which is in fact Gary Gensler who happened to also be the Professor at MIT Gary Gensler but then The reality sets in because to make the Case I need to argue it's a security But yet he says there's no lack of
Clarity this man is a despicable human Being as far as I'm concerned metal Lawman says here when it comes to the Bittrex case he said he just read the 56-page complaint he said one thing that Has has me puzzled about the bittrex Exchange case if bitrex and its Founders Are being sued because they allowed Trading alleged security algo then why Isn't the SEC also suing Gary genzer's Buddy silvo mccalley that he was just Talking about celebrating in the video At MIT offering and selling algo tokens In the first place I can think of a Couple guys over at Ripple who might be Curious to understand that logic it is True now Jeremy Hogan sets it out here And this is the letter here from bittrex Where they're disappointed about what is Taking place with the SEC they go on to Say if you look inside of this letter You will see that they we asked them and He's got it commented here he said on Multiple occasions we bittrex ask them The SEC to tell us what digital assets They view to Securities they refused to Do so So the SEC let bittrex sell unregistered Securities for years and we're still Supposed to believe it's about investor Protection This is where I always lean in and say This is regulatory capture I believe And it is working to suppress the
Current market and infrastructure that Exists so that the Legacy firms can come In and buy up this space Pennies on a Dollar because this says it right here If the SEC believed that years ago they Should have done something about it Years ago it should be a no action Letter at this point Jeremy Hogan goes on to say in in the Lieu of the SEC announcing that they Were charging bittrex over Securities Issues it says here he says the SEC is Hoping for a quick rollover from bitrex Here's the plan An easy made case Authority that the six Tokens or Securities that's the game The counter move is for algorand Foundation and the other five projects To intervene in the lawsuit under rule 24 fight together he goes on to say if Projects won't fight voluntarily bittrex Should move uh should move to bring them In against their will with a motion to Dismiss for failure to add indispensable Party rule 19 and force the SEC to bring Them in the exchanges and projects have To fight together or die apart he goes On here to say basically uh don't they Have to prove to tokens involved in Securities first Jeremy Hogan says yes And how can bittrex argue successfully That algo or another token is not a Security it can't that's the game it's Like Sue and me and alleging you're a
Bad guy how can I argue that I need you To come in and fight that battle with me See that's the problem and that's the Kind of dirty underhanded business That's taking place at the SEC that Doesn't speak to investor protection but It speaks to something else which Suggests to me it should be an Investigation about regulatory capture Of the SEC and Gary Gensler And even former chairman to be honest With you Ryan selkis Chimes into this You are Shameless talking to Gary Gensler Shameless embarrassment to the Country who celebrates undermining his Own agency's mandates and puts Craven Personal aspirations above protecting Investors and pushing the country Forward two years closer to the end of Your political career that's worth Celebrating but we shouldn't have to Wait for two years Congress can do Something today that's the disappointing Part because the fight gets even deeper You remember he's going after defy too And unless Congress legislates otherwise U.S oversight will hold most of the Crypto world in the sec's jurisdiction As the agency moves to make its reach Increase and increasingly explicit and This includes defy That's what's happening You know defy decentralization
Governments are telling us the theme is Really the or the narrative rather is There is going to be no such thing as Far as they're concerned And this is exactly what happens here This is exactly what happens here Raul Powell says something I've been saying The u.s's loss will be the UK's gain it Has always been thus in financial Markets and here's Brian Armstrong Standing right there yesterday with the UK economic secretary and City minister The UK is moving fast on sensible crypto Regulation to both Drive economic growth And consumer protection excited to keep Investing in the UK there it is and There's your result if you keep on Everyone's going to look for another Region to move to isn't it Now let's take a look at this because This gets interesting The cftc here in the United States in The Bank of England announced a joint Statement on the supervision of this Ccps The cross-border central counterparties Payments is what we're talking about Ladies and gentlemen this is really Really Intriguing to me okay when you look at This basically let me go through this Very quickly The bank in the cftc have a Long-standing relationship of
Cooperation and mutual understanding With respect to supervision and Oversight of cross-border central Counterparties that's ccps And recognize that the importance and Deference and Regulation and supervision Where appropriate the deferential Approach is in line with the G20 Commitments made in St Petersburg in 2013 and reduces the regulatory or risk Of regulatory duplication while Preserving the benefits of cross-border Clearing and activity so I should say Payments this is a settlement right so Bank and cftc are committed to Maintaining a robust and effective Relationship and cooperation and Information sharing goes into 2020 mou Memorandum of understanding here and Basically talking about the common Understanding Mutual practices and Connecting with certain U.S and UK Cross-border Central counterparties for Settlement of derivatives and what have You right so let's take a look here the Nature of the cooperation exhibit in These practices includes periodic Engagements between staff and Bank of Cftc to exchange views on relevant Supervisory issues taking consideration Views appropriate specific matters Concerns where they arise the practices Also include timely sharing of Information including data on the
Clearing Services provided to Market Participants notifications of material Events including those related to Financial resilience business continuity Of the ccps in accordance with the mou That they already have for three years Now you know this is what we're talking About service to clearing members or Trading venues established in the UK This is and the U.S This is what's happening While Gary Gensler is terrorizing the Crypto space and it has zero to do with Investor protection the way he's going About it End goal maybe so but the way he's going About it with regulation through Enforcement has nothing to do with Investment protection Now let's take a look at this right here Crypto bull 2020 says regardless of Everything that we're seeing the charts Are saying something else He says it looks like xrp will Top Anywhere between 17 and 27 dollars by The end of September 2023. now that Would put us about five four and a half Five months away If we continue to repeat the previous Pattern and here you can see what it is Well I can only hope that he's right Fingers and toes are crossed here but we Don't know what's going to happen and I'm not a financial advisor and this is
Not Financial advice now for me him or Anyone else it's just my digital Perspectives I'll catch all of you on The next one
