Stand with crypto. Bitcoin is not a security

[zasad@]

"Chairman @PatrickMcHenry  asks "What is it about Bitcoin that makes it not a security?"

Gensler after trying to dodge: "It does not meet the Howey Test which is the law of the land for being a security.

Gensler finally says "It's not a security.""
https://twitter.com/EleanorTerrett/status/1707039147091742818

LOL!
https://t.me/crypto_hd/7182



___
Stand with crypto
https://www.coinbase.com/public-policy/advocacy/standwithcrypto
"Stand with Crypto unites global crypto advocates, forming a passionate community committed to driving sensible crypto innovation and crypto policy. Policymakers across the globe are making decisions about the future of crypto. Their choices will determine how, when, and where YOU can build, buy, sell, and use crypto, and it’s critical that they get it right. "

___

US Representative McHenry said he is considering subpoenaing Gary Gensler.

https://t.me/crypto_hd/7183

[Poker Player]

The only thing missing is for Bitcoin to be a security and Eth a commodity, the world upside down. Without knowing about technical issues such as the Howey test, it is clear to me that securities are issued by certain corporations at will, they can issue more or less, as many as they want, while commodities are the ones that exist, at most they can be produced, but not issued at will. For example, wheat has to be produced, and gold not exactly produced but extracted, which we could consider a form of production.

It seems to me that uncle Gary is clear about this, although he supports it with more technical arguments. I don't think we should worry too much.

[yhiaali3]

"It's not a security." Gensler finally said it, too bad he made a fool of himself.

The hearing was tough on Gensler and I heard there were rumors he could be removed from office.
He built his reputation as an enemy of Bitcoin and cryptocurrencies, but now he's paying the price.

It is clear from the meeting that Bitcoin gained stronger positivity than before and that there is pressure on the (SEC) to approve Bitcoin ETFs, the decision on which was postponed for the first time, and the next date will be on 10/17/2023. We wait to see the results.

I think that after this meeting, the positivity towards Bitcoin will be clearer and stronger than before. We hope that this positivity shown by Congress will contribute to the market’s recovery.

[suzanne5223]

I did some research about the Howey Test and I found out that it means "An investment contract exists if there is an "investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others."
Technical, Bitcoin is security, and since it always makes new ATH in the halving effect market through the effort and investment of others.
If the spot ETF is accepted it will the Howey Test levels it.

I never expected Gary Gensler who once wanted to work with Binance before he was rejected could say such a thing about BTC. I guess he's just playing politics and will say something positive about BTC when he leaves the office just like Ex-Trump Chief Strategist Bannon

[zasad@]

"It's not a security." Gensler finally said it, too bad he made a fool of himself.

The hearing was tough on Gensler and I heard there were rumors he could be removed from office.
He built his reputation as an enemy of Bitcoin and cryptocurrencies, but now he's paying the price.

It is clear from the meeting that Bitcoin gained stronger positivity than before and that there is pressure on the (SEC) to approve Bitcoin ETFs, the decision on which was postponed for the first time, and the next date will be on 10/17/2023. We wait to see the results.

I think that after this meeting, the positivity towards Bitcoin will be clearer and stronger than before. We hope that this positivity shown by Congress will contribute to the market’s recovery.

Dissatisfaction with the activities of the SEC has long been growing in the American Congress, although I am not an expert on American politics, and perhaps I only receive this selection of news.
The main question is which ETF will be the first, and it is possible that the first ETF in the US will be an Ethereum spot ETF. And after the Ethereum price pump, the spot Bitcoin ETF will be launched.

[Zoomic]

I don't even understand why Gensler at first will have to think about bitcoin as being a security. Everyone who understands securities can wholeheartedly attest that bitcoin is not a security. Unless the person purposely wants to hurt bitcoin which will not even be successful because bitcoin is highly decentralized.
It feels bad for someone in an esteemed office to speak front he two side of his tongues, it doesn't tell good of his personality.

[zasad@]

I don't even understand why Gensler at first will have to think about bitcoin as being a security. Everyone who understands securities can wholeheartedly attest that bitcoin is not a security. Unless the person purposely wants to hurt bitcoin which will not even be successful because bitcoin is highly centralized.
It feels bad for someone in an esteemed office to speak front he two side of his tongues, it doesn't tell good of his personality.

If Bitcoin is not a security, then answer a very, very important question of our time:
Why the hell does the SEC regulate Bitcoin if another organization, the Commodity Futures Trading Commission (CFTC), should do it?

[joniboini]

Technical, Bitcoin is security, and since it always makes new ATH in the halving effect market through the effort and investment of others.

I don't think that's what they refer to as effort by others. That would be too confusing, and by that logic, any asset like gold would be a security too since you need help from miners and so on. That being said, I wouldn't be surprised if the government changes its interpretation to suit its goal if the opportunity comes.

[suzanne5223]

Technical, Bitcoin is security, and since it always makes new ATH in the halving effect market through the effort and investment of others.

I don't think that's what they refer to as effort by others. That would be too confusing, and by that logic, any asset like gold would be a security too since you need help from miners and so on. That being said, I wouldn't be surprised if the government changes its interpretation to suit its goal if the opportunity comes.

The government changing their interpretation to conform to their own purpose is the reason why I believe there's a chance that the Bitcoin spot ETF with the inclusion of Ethereum won't be approved this year and next year.
Yes, if the ETF is approved it will help the whole cryptocurrency and also boost the positive stance of other institutional investors but this is somehow not something the government wants now.

[zasad@]

Technical, Bitcoin is security, and since it always makes new ATH in the halving effect market through the effort and investment of others.

I don't think that's what they refer to as effort by others. That would be too confusing, and by that logic, any asset like gold would be a security too since you need help from miners and so on. That being said, I wouldn't be surprised if the government changes its interpretation to suit its goal if the opportunity comes.

The government changing their interpretation to conform to their own purpose is the reason why I believe there's a chance that the Bitcoin spot ETF with the inclusion of Ethereum won't be approved this year and next year.
Yes, if the ETF is approved it will help the whole cryptocurrency and also boost the positive stance of other institutional investors but this is somehow not something the government wants now.

Do you know why there is still no spot ETF for Ethereum and Bitcoin in the USA. One cryptocurrency exchange lawyer told me this in private correspondence, but he did not ask to hide this information.
Futures ET is much easier to open due to fewer requirements and this is approved by the CFTC.
For a spot ETF, you must provide evidence that the market is not manipulative. Therefore, it is not Gary’s fault that this ETF still does not exist.

[suzanne5223]

Technical, Bitcoin is security, and since it always makes new ATH in the halving effect market through the effort and investment of others.

I don't think that's what they refer to as effort by others. That would be too confusing, and by that logic, any asset like gold would be a security too since you need help from miners and so on. That being said, I wouldn't be surprised if the government changes its interpretation to suit its goal if the opportunity comes.

The government changing their interpretation to conform to their own purpose is the reason why I believe there's a chance that the Bitcoin spot ETF with the inclusion of Ethereum won't be approved this year and next year.
Yes, if the ETF is approved it will help the whole cryptocurrency and also boost the positive stance of other institutional investors but this is somehow not something the government wants now.

Do you know why there is still no spot ETF for Ethereum and Bitcoin in the USA. One cryptocurrency exchange lawyer told me this in private correspondence, but he did not ask to hide this information.
Futures ET is much easier to open due to fewer requirements and this is approved by the CFTC.
For a spot ETF, you must provide evidence that the market is not manipulative. Therefore, it is not Gary’s fault that this ETF still does not exist.

Oh ok. This explained the reason why Gary said Bitcoin is not security but he didn't say anything about the commodity which means they are still playing a political trick on us.
Let's look at it from this angle, Is the Gold market not manipulated? Why is it that there's a Gold spot ETF in the USA?
At least for now, they don't want BTC to spot ETFs that will provide investors with a convenient way to invest in BTC.

[zasad@]

Technical, Bitcoin is security, and since it always makes new ATH in the halving effect market through the effort and investment of others.

I don't think that's what they refer to as effort by others. That would be too confusing, and by that logic, any asset like gold would be a security too since you need help from miners and so on. That being said, I wouldn't be surprised if the government changes its interpretation to suit its goal if the opportunity comes.

The government changing their interpretation to conform to their own purpose is the reason why I believe there's a chance that the Bitcoin spot ETF with the inclusion of Ethereum won't be approved this year and next year.
Yes, if the ETF is approved it will help the whole cryptocurrency and also boost the positive stance of other institutional investors but this is somehow not something the government wants now.

Do you know why there is still no spot ETF for Ethereum and Bitcoin in the USA. One cryptocurrency exchange lawyer told me this in private correspondence, but he did not ask to hide this information.
Futures ET is much easier to open due to fewer requirements and this is approved by the CFTC.
For a spot ETF, you must provide evidence that the market is not manipulative. Therefore, it is not Gary’s fault that this ETF still does not exist.

Oh ok. This explained the reason why Gary said Bitcoin is not security but he didn't say anything about the commodity which means they are still playing a political trick on us.
Let's look at it from this angle, Is the Gold market not manipulated? Why is it that there's a Gold spot ETF in the USA?
At least for now, they don't want BTC to spot ETFs that will provide investors with a convenient way to invest in BTC.

https://www.cftc.gov/sites/default/files/2019-12/oceo_bitcoinbasics0218.pdf
"Is Bitcoin a commodity?

Yes, virtual currencies, such as Bitcoin, have been
determined to be commodities under the Commodity
Exchange Act (CEA).
Does the CFTC oversee Bitcoin?

The U.S. Commodity Futures Trading Commission’s
(CFTC) jurisdiction is implicated when a virtual
currency is used in a derivatives contract, or if there
is fraud or manipulation involving a virtual currency
traded in interstate commerce."

It just happened today

SEC Chair Gensler Affirms Bitcoin Is a Commodity — 'That's the Only One I'm Going to Say'
https://news.bitcoin.com/sec-chair-gensler-bitcoin-is-a-commodity
"The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says bitcoin is a commodity. He emphasized that the SEC, the Commodity Futures Trading Commission (CFTC), and banking regulators will collaborate to oversee the crypto sector."

[suzanne5223]

Technical, Bitcoin is security, and since it always makes new ATH in the halving effect market through the effort and investment of others.

I don't think that's what they refer to as effort by others. That would be too confusing, and by that logic, any asset like gold would be a security too since you need help from miners and so on. That being said, I wouldn't be surprised if the government changes its interpretation to suit its goal if the opportunity comes.

The government changing their interpretation to conform to their own purpose is the reason why I believe there's a chance that the Bitcoin spot ETF with the inclusion of Ethereum won't be approved this year and next year.
Yes, if the ETF is approved it will help the whole cryptocurrency and also boost the positive stance of other institutional investors but this is somehow not something the government wants now.

Do you know why there is still no spot ETF for Ethereum and Bitcoin in the USA. One cryptocurrency exchange lawyer told me this in private correspondence, but he did not ask to hide this information.
Futures ET is much easier to open due to fewer requirements and this is approved by the CFTC.
For a spot ETF, you must provide evidence that the market is not manipulative. Therefore, it is not Gary’s fault that this ETF still does not exist.

Oh ok. This explained the reason why Gary said Bitcoin is not security but he didn't say anything about the commodity which means they are still playing a political trick on us.
Let's look at it from this angle, Is the Gold market not manipulated? Why is it that there's a Gold spot ETF in the USA?
At least for now, they don't want BTC to spot ETFs that will provide investors with a convenient way to invest in BTC.

https://www.cftc.gov/sites/default/files/2019-12/oceo_bitcoinbasics0218.pdf
"Is Bitcoin a commodity?

Yes, virtual currencies, such as Bitcoin, have been
determined to be commodities under the Commodity
Exchange Act (CEA).
Does the CFTC oversee Bitcoin?

The U.S. Commodity Futures Trading Commission’s
(CFTC) jurisdiction is implicated when a virtual
currency is used in a derivatives contract, or if there
is fraud or manipulation involving a virtual currency
traded in interstate commerce."

It just happened today

SEC Chair Gensler Affirms Bitcoin Is a Commodity — 'That's the Only One I'm Going to Say'
https://news.bitcoin.com/sec-chair-gensler-bitcoin-is-a-commodity
"The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says bitcoin is a commodity. He emphasized that the SEC, the Commodity Futures Trading Commission (CFTC), and banking regulators will collaborate to oversee the crypto sector."

Thanks for the information. According to the information provided by the BlackRock ex-director Bitcoin spot ETF is expected to be approved in the next 3 to 6 months.
Could it be that the CFTC and the banking regulators supervise the crypto sector is what's leading the Bitcoin sector ETF?
Because the government has always mentally enslaved us while making us feel we're free (democracy)whereas we're completely controlled and we only see what they want us to see

[dansus021]

Hahaha I don't know what exactly Gary Gensler wants, he probably want to buy Bitcoin at lowest as possible and then he make good news like approval of Bitcoin etf.

In my country bitcoin is considered as an asset or commodity and it is legal to trade here even government gets a slice of the trade fee. This is best meme for Mr gary right now

[zasad@]

Thanks for the information. According to the information provided by the BlackRock ex-director Bitcoin spot ETF is expected to be approved in the next 3 to 6 months.
Could it be that the CFTC and the banking regulators supervise the crypto sector is what's leading the Bitcoin sector ETF?
Because the government has always mentally enslaved us while making us feel we're free (democracy)whereas we're completely controlled and we only see what they want us to see

If you read many similar opinions and statements, you will understand that there are 50% truth and 50% lies. Americans love to talk a lot and promote themselves on media resources. It is enough just to remember the Bitcoin forecasts of some analysts, which never came true.
Everything is complicated by the fact that in the United States there is no legislation, and any initiative there has to be pushed through the courts, which takes a very long time.

[suzanne5223]

Thanks for the information. According to the information provided by the BlackRock ex-director Bitcoin spot ETF is expected to be approved in the next 3 to 6 months.
Could it be that the CFTC and the banking regulators supervise the crypto sector is what's leading the Bitcoin sector ETF?
Because the government has always mentally enslaved us while making us feel we're free (democracy)whereas we're completely controlled and we only see what they want us to see

If you read many similar opinions and statements, you will understand that there are 50% truth and 50% lies. Americans love to talk a lot and promote themselves on media resources. It is enough just to remember the Bitcoin forecasts of some analysts, which never came true.
Everything is complicated by the fact that in the United States there is no legislation, and any initiative there has to be pushed through the courts, which takes a very long time.

The manipulation and self-promotion through the media is something played by the government because if they want to put an end to it they would but they didn't because it's the exact weapon they are using.
About the Bitcoin forest most analysts, made the forecast in order to boost the market commitment and also to trend in the news. This reminds me of when the $100K price was predicted in the previous halving market, I am one of the few users of the forum who believe the ATH price won't reach $100K.

[zasad@]

Thanks for the information. According to the information provided by the BlackRock ex-director Bitcoin spot ETF is expected to be approved in the next 3 to 6 months.
Could it be that the CFTC and the banking regulators supervise the crypto sector is what's leading the Bitcoin sector ETF?
Because the government has always mentally enslaved us while making us feel we're free (democracy)whereas we're completely controlled and we only see what they want us to see

If you read many similar opinions and statements, you will understand that there are 50% truth and 50% lies. Americans love to talk a lot and promote themselves on media resources. It is enough just to remember the Bitcoin forecasts of some analysts, which never came true.
Everything is complicated by the fact that in the United States there is no legislation, and any initiative there has to be pushed through the courts, which takes a very long time.

The manipulation and self-promotion through the media is something played by the government because if they want to put an end to it they would but they didn't because it's the exact weapon they are using.
About the Bitcoin forest most analysts, made the forecast in order to boost the market commitment and also to trend in the news. This reminds me of when the $100K price was predicted in the previous halving market, I am one of the few users of the forum who believe the ATH price won't reach $100K.

When I see any price forecast for Bitcoin and Ethereum from well-known analysts, I don’t pay attention to it. In my opinion, the crypto market is still filled with manipulators, so it’s easier for me to assess the situation from the point of view of their actions than from the news background.

[bbc.reporter]

Hahaha I don't know what exactly Gary Gensler wants, he probably want to buy Bitcoin at lowest as possible and then he make good news like approval of Bitcoin etf.

In my country bitcoin is considered as an asset or commodity and it is legal to trade here even government gets a slice of the trade fee. This is best meme for Mr gary right now

Similar to what everyone who is following the news on uncle Gary has said, it took a judge to do the SEC's job for them and ruled the XRP token by itself as not a security. This has created a legal precedent that many of the tokens by themselves in the cryptospace are not securities.

Uncle Gary is the security hehehehehe.

[zasad@]

I don’t quite agree with the opinion about Ripple, because according to the court’s decision, some of the coins are recognized as the sale of shares and Ripple will still have to negotiate with regulators for a very long time to resolve all open issues. But this will not help all new projects, because they do not have such resources.

[bbc.reporter]

@zasad@. Agreed that it is arguable but only on how the sales of those tokens transpired. But the most important part of the ruling is the tokens by themselves are not illegal securities. If the next projects to be created take the judge's ruling as a predecent, they should avoid token sales as shares directly to investors and make direct to public market sales with them. This will need some creativity, however, it is not impossible similar to how we are witnessing airdrops and memecoins start their markets.