OMG Clarity I think NOT GG, former CFTC chair disagrees

[HAL1000]

 

[HAL1000]

You can't make this s**t up, I swear to God this is the most f****d up thing I have seen in ages. SEC commissioners at loggerheads, different agencies fighting each other for control and congress trying to pass bills, that conflict with each other. My take - you can't stop progress, with either words or unworkable regulations. Install the APP and let the backend software work out the best deal for each of us, who cares what bloody tokens are classed as or who gets to issue and control them.

The future is smart oracles connected to A.I. systems and vetted price feeds, so giving us all the best deals possible as consumers. Let the A.I. systems do the accounting and taxing, whilst we all head off to the beach

 

[HAL1000]

And I know this got posted in another thread - but it seems appropriate to highlight here again, from Brian Quintenz CFTC Commissioner:-

#CRYPTO ASSETS

[Julian_Williams]

Almost need to depose them for Ripple against SEC? 

Edited August 4, 2021 by Julian_Williams

[HAL1000]

 

[HAL1000]

 

[HAL1000]

Jeremy Hogan

Mr. Quintenz, I understand the Commission sometimes submits amicus curiae briefs to courts to assist in interpretation of the law. Has the CFTC made a decision as to whether to file an amicus in the SEC v. Ripple litigation?

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An amicus brief is submitted by an entity not in the litigation (a third party) which has an interest in a case. The CFTC has an interest in the Ripple lawsuit if it believes that XRP is a commodity, and it could file a brief stating why XRP is a commodity and not a security.

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John E Deaton

For those of you that do not know:

@giancarloMKTS

is the former Chairman of the CFTC and heads the Digital Dollar Project. In short, he knows what the hell he’s talking about. BTW, he has declared #XRP IS NOT a security and should not be treated any differently than Ether.

And former SEC Commissioner Joseph Grundfest has stated that since the SEC has failed to make a material distinction between #Ether and #XRP the enforcement action against XRP should not have happened.

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I have a Queen song going through my head at the moment:-

 

Edited August 5, 2021 by HAL1000

[HAL1000]

https://www.forbes.com/sites/michaeldelcastillo/2020/06/17/xrp-isnt-a-security-declares-former-cftc-chairman/?sh=50eca4d1539b

[RipMcGillicuddy]

The pushback on Gensler from companies and other regulators yesterday was pretty intense. Not that he cares or Senator Warren cares as they just want to rekt companies and people and collect money to fund their needless spending. 

It's become clear that the crypto industry is at or near the front of the minds of Congress now.