Famed Fox Business reporter Eleanor Terrett tweeted that Gary Gensler is trying to gain the upper hand for cryptocurrencies. cryptocoin.com We have compiled the famous reporter’s SEC allegations for you.
Warning for cryptocurrencies
Fox Business reporter Eleanor Terrett reveals in her recent tweet that US Securities and Exchange Commission Chairman Gary Gensler is trying to control the entire cryptocurrency overnight.
Earlier today, Terrett told his Twitter followers, “GaryGensler is embarking on a midnight massacre to take control of the entire cryptocurrency.” This statement aligns with the commission’s approach of introducing one-at-a-time enforcement action as a way to set crypto regulatory policy.
Terrett adds that he will be filing multiple enforcement actions against the Securities and Exchange Commission (SEC), the New York Department of Financial Services (NYDFS), and the United States Office of the Currency Auditor (USOCC) in the coming weeks. exchanges, banks, and organizations that issue tokens to label many of them as securities.
Opposed to the SEC
The SEC, under Gensler’s direction, plans to take matters into its own hands, rather than laying down formal rules or waiting for Congress to pass legislation explaining the conditions under which U.S. Securities laws apply to digital assets. Terrett explains:
“I was told that Gensler’s strategy was to impose as many sanctions as possible while the 118th Congress was still trying to find direction.”
Since the end of last year, the SEC has issued a series of strict policy statements regarding the rules and regulations they expect cryptocurrency companies to abide by. In response, the crypto industry harshly criticized the commission for its strict and fast rules, and both crypto firms and investors were unanimously opposed to the SEC.
As a result of pressure from the crypto industry, the SEC has been told to reconsider or reduce its regulations to show that it has concerns before the US Judiciary about crypto businesses falling under their control. However, this latest statement in Terrett’s tweet that the SEC plans to set rules overnight will send the US crypto industry on a whirlwind ride.
US parliament summons SEC chairman
The US Parliament has issued an ultimatum asking Gary Gensler, chairman of the Securities and Exchange Commission (SEC), to provide information on the commission’s FTX investigation. On February 24, 2023, Gensler was given until 5 pm to submit the summarized records to the GOP.
In a letter dated February 10, 2023, the U.S. parliament’s financial services committee asked the SEC chairman to provide details of his commission’s investigation into Sam Bankman-Fried (SBF) in the FTX collapse. Parliament has asked Gensler to provide records of communications between some of the key participants in the investigation led by the SEC.
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