Gary Gensler is coming for crypto's institutional money

[Anonymous No.53700106]

https://www.bloomberg.com/news/articles/2023-02-14/crypto-s-work-with-hedge-funds-faces-sharp-scrutiny-under-regulator-s-proposal

>Rule changes that the US Securities and Exchange Commission plans to propose Wednesday would in effect make it harder for crypto firms to be “qualified custodians” — a designation that allows companies to hold client assets for money managers, said the people who asked not to be identified because the details haven’t yet been released.

>Hedge funds and some venture-capital and pension funds are required to use qualified custodians to hold their clients’ assets. If finalized, the rule could mean that institutional funds that have delved into crypto might have to move their customers’ holdings elsewhere.

They are trying to prevent Coinbase Custody/Institutional as being heavily fortified with institutional money. They don't want this industry to get bigger. They're trying to cut off crypto at the knees. This is the gov't actively trying to prevent Americans from independent wealth. Some got away but no more, no more $100 into $100,000 gains in crypto.

[Anonymous No.53700132]

If institutional money started pouring money into these assets, they'd start to move the markets and by association we'd get richer too. But they're trying to stop banking from working with crypto, stop hedge funds from buying, stop neets from staking, etc. All out assault on us, instead of looking at rapidly depreciating dollars or BRICS trying to cut the USD, or the manufacturing issues, or millions being laid off. No, let's worry about little old crypto making a few more Americans rich

[Anonymous No.53700199]

Most important thread on biz and it’s being ignored. If hedge funds can’t buy we literally will be down to algos buying and selling to each other and… biz

[Anonymous No.53700234]

>>53700106
If only there were a crypto no government could tell you were holding since all transactions are private by default....but no institutions are would never buy that

[Anonymous No.53700254]

>>53700106
People act like this is unprecendented, but they were doing the exact same "choke to death" shit with fintech before crypto got big.
The incumbents own the government and don't want competition, and they literally don't care if they send trillion dollar industries overseas, because that's not their problem,

[Anonymous No.53700258]

>>53700199
checked. Yep, they're trying to prevent money flows in AND out, trapping everyone. Coinbase is literally the last one standing with their big institutional product. If big money is forced to leave them, forget price, we may not have exchanges left

[Anonymous No.53700291]

>>53700254
What fintech went overseas though? Cashapp? Venmo? Plaid? This involves assets worth a trillion, not some shitty techbro startups

[Anonymous No.53700308]

>>53700291
The reason techbro startups stayed so shitty is because they were regulated into the ground from the start. The threat was clearer.
Crypto got a longer run up simply because it was a laughing stock for so long.

[Anonymous No.53700330]

>>53700106
What does this mean for my portiflio next bull run?

[Anonymous No.53700405]

Except that crypto is a worldwide phenomenon. Every foreign penny converted to BTC or any alt -even XRP- is a tiny arrow shot against USD. Since the US economy can't be bigger than the rest of the world's economies together, it's only a matter of time. Sooner or later, the dollar will fall, and the imposter American Zionist institutions will fall along with it. Rats like Gensler are there only there to delay the process and buy more time so the rest of them can jump ship with the larger part of their fortunes unharmed.

[Anonymous No.53700409]

>>53700308
Fair point but at this point they're approaching destroying the American economy if they drive tech overseas. That's the only industry that matters here (just look at the S&P)

>>53700330
Means say so long and happy job hunting

[Anonymous No.53700432]

I trade exclusively in L2 networks now.

[Anonymous No.53700569]

>>53700405
Thus you can be sure war is coming

[Anonymous No.53700680]

>>53700569

[Anonymous No.53700932]

>>53700680
kek

[Anonymous No.53701012]

>>53700258
I thought these crypto companies had lobby firms and lawyers but they’re getting btfo by this kike every week

[Anonymous No.53701027]

>>53700258
The ecosystems I trade in are all decentralised anyway. Shitcoins and microcaps are unironically what saves crypto.

[Anonymous No.53701038]

>>53700106
>Gary Gensler is coming for crypto's
I'd watch that porno.

[Anonymous No.53701052]

RIP POS shitcoins

Hail to the one true King

[Anonymous No.53701300]

Sounds like they are going to cut out the smaller firms from being qualified crypto custodians.

[Anonyɱous No.53701434]

>>53700234
>If only there were a crypto no government could tell you were holding since all transactions are private by default
It would be real great if something like that existed.

[Anonymous No.53701816]

>>53700106
AH COORDINATED DISCORD TRANNIES...BOTTOM SIGNAL FOR SURE

[Anonymous No.53701928]

>>53700569
Indeed

[Anonymous No.53703388]

XRPfags tried to warn you guys about the SEC but you didn't listen, and now your only hope is XRP beating the SEC

[Anonymous No.53703878]

>>53701816
discord? what is discord about a Bloomberg article discussing regulation attacks, retard

[Anonymous No.53704061]

>>53703878
We have regulation fud on a set schedule. Grifters are eating it up with concern controlling over stables and exchanges. Legal actions yield a more clear regulatory framework, entities pay fines and evolve. I'm not going to run on this shortsighted hamster wheel, the game is on as always for the next level up.

Not my problem if the crowd is too dumb to see past the tip of their nose, or the shit that nerds flap their arms over on Twitter. You don't get far in investing I'd every knock on the door spooks you into a fearful frenzy.

[Anonymous No.53704094]

>>53703388
conversely, the sec is ruffling feathers to make it look like they're doing something after getting humiliated by FTX, LBRY, and soon Ripple

[Anonymous No.53704578]

>>53704094
The others can use Ripple as legal precedence. It’s real simple to see how it benefits others who don’t hold xrp. They might have all sorts of reasons why they aren’t securities but the SEC has been extremely heavy-handed and Gensler essentially claims every crypto is a security. He works for the bankers and is a jew, double trouble.

[Anonymous No.53704767]

Not a glow fag, but I think this back fires on the sec. Think less VC backed chains coming onto the market means money pours Into fewer and fewer offerings bolstering price on already existing chains. Overall volume drop but higher token prices imo.

[Anonymous No.53707334]

>>53704767
What happens if anyone gets SEC into court and makes them define securities and compare it with stable coins? But I also don't think the SEC would be so brash without knowing the have the weight of the regime behind them, which they do.

[Anonymous No.53707722]

>>53700132
they're doing it for institutional money to come. but the banking cartel is one of the most powerful and they want to be the ones making money off of crypto fees instead of those new exchanges. big institutional money will come but through traditional banks. they also want to issue their own stablecoins. that's why they're killing the competition

[Anonymous No.53707759]

>>53700308
>techbro startups stayed so shitty
what happened with tech startups and how were they regulated?

[Anonymous No.53707851]

>>53707722
>that's why they're killing the competition
*through gary who is their little bitch

[Anonymous No.53707868]

>>53707759
probably something to do with not needing bank charters and other money licenses.

[Anonymous No.53710063]

>>53707722
Checked, so through fidelity and jpm exchanges?

[Anonymous No.53710604]

>>53700106
implying his is bad, vcs getting in is what got us in the 2021 mess
few vcs and private hodlers is what gave us 2017

>>53700258
i dont really care that my cucked state is stopping outrflows back into tradfi banks just all the more incentive to leave this dump behind in 2025 and there is an ever growing number of places that accept crypto

[Anonymous No.53710652]

>>53700106
tether still exists so he hasnt made his move yet

[Anonymous No.53710668]

>>53701052
Fucking based as hell

[Anonymous No.53710869]

>>53710063
all the banks and brokers will offer crypto trading, staking services, possibly their own stablecoin with higher interest that we have now. they saw the shittons of money coinbase and binance were making and of course want to tap that. they wouldn't let those nobody who came out of nowhere continue to make all the money.

[Anonymous No.53711770]

>>53710869
Fuck! They just get stronger

[Anonymous No.53711820]

Good. Time for adversarial development instead of hyping VC capital and "institutional investors".

[Anonymous No.53711867]

>>53701052
>LN+CJ
enjoy having your wallets blacklisted, retard

[Anonymous No.53712028]

>>53701052
midwit tier meme, enjoy your CBDC token.

[Anonymous No.53712207]

>>53710869
so what your sayin' is
wluna is gonna moon hard