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Gary Gensler Wants to Regulate Crypto

  • Article
  • Sep 8, 2022
  • #Cryptocurrency
Matt Levine
@matt_levine
(Author)
www.bloomberg.com
Read on www.bloomberg.com
2 Recommenders
2 Mentions
If you sign up for a Web3 social network or chat room or trading venue or let’s-buy-the-Constitution lark, you will get some of that project’s tokens, which will entitle you to use... Show More

If you sign up for a Web3 social network or chat room or trading venue or let’s-buy-the-Constitution lark, you will get some of that project’s tokens, which will entitle you to use the project’s app or exchange or Constitution, and which will give you some notional say in the decentralized governance of the project. Also the tokens will appreciate in value if the project takes off and more people want to use it. It’s as if being an early user of Facebook or Uber also automatically made you a shareholder of Facebook or Uber, and when those services got huge you got rich.

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Chris Burniske @ChrisBurniske · Sep 9, 2022
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  • From Twitter
“Gensler’s posture is that he should be in charge of writing the rules for crypto, but not write them.” “In crypto, only the honest businesses need fear the SEC. The incentives are bad.” Great piece by @matt_levine
Hasu @hasufl · Sep 9, 2022
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“What is the difference between Gemini and Wonderland,” I asked, and I proposed that the main answer is that “Gemini answers the phone when the SEC calls” (...) In crypto, only the honest businesses need fear the SEC. The incentives are bad." great read
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