Date: 2023-03-05T14:49:55Z Creator: Bitfolio Academy
The Crypto Community is Outraged at Gary Gensler. Crypto Twitter is blowing up with criticism.
First, he said, every altcoin is a security and falls under his regulatory authority. If you only have a hammer, everything looks like a nail. Now, he says, crypto exchanges cannot custody customer assets. They can’t be trusted to keep customer assets separate from their own assets.
John Deaton says: Of course Gary Gensler says exchanges aren’t “qualified custodians.”
That’s because jpmorgan, GoldmanSachs, MorganStanley, Fidelity and BlackRock are the only “qualified” ones.
Gensler used to work at Goldman Sachs, and he continues to support Wall Street, at the expense of crypto. Gensler is a protector of the status quo and a part of the old aristocrats who are fighting the crypto transformation.
It is still not too late to sign the petition to fire Gensler.
Let me know in the comments. 🤔
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