.@GaryGensler thinks that most cryptocurrencies are securities. Let’s indulge his line of thinking for a moment just so we can see how harmful it is to everyday investors.

6:50 PM · Oct 5, 2021

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Let’s say someone who issued a token agrees with Chairman Gensler wants to register it as a security with the SEC. Once registered, can this token trade on the NYSE or NASDAQ? No.
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Can a broker-dealer like Charles Schwab deal in a digital asset that has gone through SEC registration? Would they be able to trade these digital asset securities and custody them? No.
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If Gensler deems a coin with a $1B market cap and tens of thousands of investors a security, what happens to those investors? The value of the token will plummet & retail investors won’t be able to trade it.
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Clearly there is no path for digital asset securities to be traded anywhere, so it is clear that retail investors would be hurt by Gensler’s actions. @GaryGensler, step out of the way.
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And the rest are scams.
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Congress MUST ACT!!!!!
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#STOPGARYGENSLER My biggest loss as a Digital Asset Investor was caused by the @SECGov, the very agency who's job is to protect me! Thank You Mr. Emmer please get Congress to take control of this predatory SEC.
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Same for me @XrpMr. @RepTomEmmer Senator Emmer Mr Gensler needs to understand the effect he has on those he is supposed to be protecting and the effect he's antics have on those of us non US citizens. Thanks for taking the opportunity to push back Mr Emmer.
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Replying to @RepTomEmmer
@GaryGensler is hurting every investor left and right who doesn’t hold his precious Etherium! Why he decided to give them a free pass…idk-would be interning to see what Goldmansachs is heavy into.
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