 Welcome to the last set news take a top stories and crypto and bring on a bite-sized pieces today Just like a thumbnail suggests we're gonna talk about why right now It really comes down to the crypto investors people like you and me and we are up against the sec And if it wasn't for the sec sticking their nose into everything and just messing everything up This market would be vastly increased than what it is right now. So we'll talk about that We'll also talk about some good news As far as like Ukraine legalizing cryptocurrency also India getting into the fray with more regulation positively and then we'll talk about What would happen if everything became a security and we'll talk about the Celsius token and some interesting information that's my friend Alex Mascioli talked about because he has had a tussle himself with the SEC and finally We'll talk about a little partnership between FTX and Tom Brady So we'll do all those things but first take a look at what's going on the market So today, it's not a bad day. We're at a mark have 2.12 trillion Bitcoin price holding study at around 46,000 Everything's just kind of just going sideways and we'll see what happens Some people think we're due for a bear market Some people think we're gonna trade sideways for a couple weeks then blast off and some people say everything just go to the moon I can't tell you what it's gonna be because I don't have a crystal ball But I can tell you right now statistically if what I'm gonna do actually is just hold but statistically if you do a lot of Holding usually things work out pretty well, but it is up for you to decide what you think is best for you And of course your goals are not my goals So what I really want to do today is just jump right in and just talk about what that is going on So I want to start off with this video and the reason why I'm bringing this to everybody's attention It's not because it's like a news flash or something like that. We all know the SEC is the SEC I'm just gonna believe it at that, but I just want to emphasize how much farther we would be If they did their job and they gave us clarity and I'm gonna talk to you right now This is from Squawk box. This is Rick Ryder. He's one of the CIOs for BlackRock You know BlackRock are the ones that have like almost 10 trillion of assets under management and listen to what he says About cryptocurrency right here Rick you have been a proponent of crypto I think within the firm probably more so than than many others Where do you see that now we talked about what what El Salvador did this week? But it speaks to all the issues that you're dealing with here, which is which is what are real rates? What's the value of money? So, so, you know, that's a tricky subject. So first of all, I'll say the first thing I will say on crypto You know people describe it as a hedge or an alternative. I'm not sure. It's a really great hedge I mean the correlation to equity is a correlation to risk assets I'm not sure it's a great hedge by the way when someone in Asimov's 10 to 15 percent a day really hard to hedge big organic asset pools with that as a hedge is it, you know Is it an alternative currency? Listen, I've said and I've said I've said it with you Andrew Listen part of why I own a small piece of Bitcoin is I do think there are more people that are gonna enter that fray over time We have a very moderate position in our portfolio I like assets that quite frankly are volatile that have upside convexity and I could see Bitcoin like it's done I could see it go up significantly but listen, I think it's volatile I don't think it's a core asset class like like bonds are or like stocks are but I think it's you know And to have a bit as more of a speculative tool in a portfolio. Yeah, I think I think there's some value to that So first of all if this would have been 2017 This would have been laughable or the BlackRock CIO to come out and start talking about how they have a moderate position of Bitcoin or cryptocurrency in their portfolio wouldn't have happened and now all of a sudden here We have a step the same thing happened with JP Morgan. So really what's going on is This would have actually been advanced if he just would have known or other institutions would have known What is a currency in as far as cryptocurrency and digital assets? What is a commodity and what is a security if they would have known those things? They could have jumped in a probably a lot harder and in this video He pretty much said all those three things and he's like I really don't know Because the SEC is not doing their job and that is the real problem What's really going on here is they are doing Enforcement through Regulation and that is not the whole end all be all for the SEC should be doing but they're doing it and here We are so that is just there to start off with and what I really want to get into is this piece right here This was article drop today. SEC will stop at nothing to control the entire crypto space says former federal prosecutor So what's going on here? Let me just blow this up so you can see it This is Filon his name is James K. Filon you can follow him on Twitter I'll link in the description below and James Fawn is an attorney specializing in securities litigation and government investigations He states this because he knows these things the SEC will stop at nothing to control the entire crypto space This isn't just about ripple coinbase accuses the SEC of using intimidation tactics behind closed doors to stop the company From launching a lending program coinbase Stayed this the SEC told us they considered lend to involve a security But wouldn't say why or how they've reached that conclusion. They just want us to shut it down They're gonna sue us the SEC is also reporting reportedly investigating uniswap. So again What's going on here is that essentially the SEC just going look we don't really have the everything that we should have as far as like Clarity, but we're just gonna sue you suit the pants off you and so just don't do it How can you possibly do that? And this was actually brought to light Brian Armstrong CEO of Coinbase and he just said this in one of 21 tweets in a big long Threatal link in the description. He says look if we end up in court We might finally get the regulatory clarity the SEC refuses to provide But regulation my litigation should be the last resort for the SEC not the first and really what it's coming down to is He's like look I think we should go to court and I think we should battle it out so we can get some clarity And that's really what I feel it's all coming to now a lot of people will say this they'll say you do not want to Tustle with the SEC, but it's inevitable anyhow. They're gonna come for you anyhow They're like mafioso So it's like if you you're gonna have to stand up to him anyhow because they're just bullies And there's only way to beat a bully That's a punch him in the face and that's really what it comes down to don't tell me in the comment section that I offended you because I told you to punch something the face It's really it's just a metaphor But really what it comes down to is this if you if the SEC Would have just taken a little bit of guidance From what had been happened in the in the past As far as like the internet this would have all gone away and there was this law section 230 Which was passed 1996 and says an interactive computer service Can't be treated as the publisher or speaker of third-party contact This protects websites from lawsuits of a user post something illegal although there are exceptions And this was the law that gave us the internet that said here's a little bit of regulation Like I've been talking about on my channel forever. We're not gonna overdo it It's like cake a slice is okay a whole thing will oh a whole big bunch of cake will ruin your night if you do these things We'll just be hands-off and that's the whole thing that it's coming down to and then people will have their theories about why That is but really what it comes down to is this the SEC is just coming out and going We're gonna do this this and this and we're not gonna give you guidance and that's how it is So when I'm talking about these things I want I want you to be aware of where we could have been if the SC just would have done their job and gave a little bit of clarity I was a medic in the army so I can just tell you like we were big on triage, right? Just is this person gonna make it they're not gonna make it this one is is critical or not It's the same thing that they could have done over the SEC the CFTC and the OCC just go look This is a commodity CFTC This is a security SEC and this is a currency office of the control of the currency just do it like that Very simple very very easy and that's what could have been done Now if this lights a fire under your under your belt and you're in the United States Go and reach out to the SEC reach out to yours representative reach reach out to your senator and tell them what they should be doing So that is it for that section Let me know what you think in the comments because I'm sure I'm gonna get some good ones and let's move on to our next Piece as far as like good news. This is what us should be doing so cryptocurrency doesn't pass them by So forth the Ukraine is more America than America. Good job, Ukraine. So what's going on here? The Ukraine adopts law and virtual assets to regulate crypto market Congratulations, Russia. The law and virtual assets recognizes cryptocurrency as intangible goods while denying them the status of legal tender Step in the right direction. They're giving them clarity of what it actually is In case these assets are backed by currencies, they will be regulated by the National Bank of Ukraine Which is the country's central bank if the underlying asset is a security or derivative the national Securities and stock market exchange will be the main regulator makes sense Crypto market participants will be able to independently determine the value of virtual assets open bank accounts to settle transactions and seek judicial protection for associated rights I never thought I would see the Ukraine out do United States for being freedom, but here we are and Congratulations because that's pretty much how it should be done because that's what people want You work for us not the other way around and that's how it should be. Let me know what you think about that in the comments Let's move on to our next piece India so India's been going back and forth for regulation, but over the last couple days. They've pretty much said hey We're gonna be we're gonna give a little regulation and we're gonna move forward in our own Indian fashion So India's crypto currency legislation will be distinct and unique. So what's going on here? Jant Sinha, I think I nailed it. Sinha is a chairman of India's Parliament parliamentary standing committee on finance states it is not possible for India to adopt the crypto policies used in advanced economies I used America and advanced economies loosely, but he states this we have to balance stability and growth But we recognize how important this whole area of crypto is And then this I thought was very interesting a former deputy governor of the Reserve Bank of India Argondi said this crypto must be regulated as an asset or commodity in India and governed by existing laws Once cryptos are accepted rules governing commodity exchanges could apply and the coins could be used to pay for goods and services Which makes a lot of sense then Automatically people can start buying selling and holding and this is according to recent reports Indian government is planning to regulate crypto assets as Commodities and by use cases again, they've got it down pat This was the article and they stated that the cryptocurrency will treat it as an asset commodity for all purposes Including taxation as per use case payments investment or utility. So look If other countries can get a board and they figured it all out I just don't see what the problem is with the United States. Well, they can't figure it out But I will tell you this if you let it sleep and you let it pass by Just expect all these crypto companies all these Bitcoin mining places all the different places just to say, you know What this isn't good for us and we're out of here It happens everywhere in every country see tax laws when you overtax people and things that happen So what are you thinking about that in the comments? I'll be good And let's move on to our second to last piece and this will go pretty fast. So I was talking to Alex Massioli Over an Alice Max Alex Massioli show we're talked about I said, what's the nuclear option here? Alex. What if everything becomes a Security much as say, you know SEC goes all cryptos of security He goes that would be very bad Rob And he goes because because he was head of institutional investment over a bequan services Traditional finance guy and he goes if this happens he goes, it's not bad for us for the people But you have to understand for every single project out there They were selling on registered securities on top of that all the exchanges were selling on registered securities and I said well Why would they do that Alex? Why I knew the answer, but I wanted to say it and he said it's because they want money Rob It's because they want a ton of money and there's a bunch of money and fines He goes I've tussled with the SEC and I will just tell you this Every every time you want to do this you just want to pay the fine and move on and I said well Is it like double jeopardy like if you if they find you you can just move on they can't come back He's like no, that's the beauty they can come back at you again and again and again and again again mafioso So I'm like, why don't we just take this to court and just say you know what? I'm all in. Let's get all the all the Lawyers that we can possibly get all the different people that we can actually stand up for this and just go Let's bring it in and let's just get this out on the table and get this done now And we can move forward and get some clarity. I know people think it's a dumb idea I don't care because look I've been sued before I've talked about this in the channel and You can let people bully you for as long as you want to or you can just stand up and go You know what if you're gonna come at me better come correct because I'm gonna come as hard as I possibly can and then we'll see We're at all lands when the dust settles. That's all I'm saying. Anyhow, so that was Alex's Snip it I was gonna get him on the show, but he was too busy Going to a football game good for Alex works his ass off. All right, so this I thought was interesting Alex Mishinsky friend of the show Celsius thinks cell won't receive the same SEC treatment as XRP and there's just a couple of things He states this We did not determine that cell token is a security Mishinsky said an interview with coin desk What we said is that because we're not sure what it is and it's not clear because the regulations are not clear And we do talk about that we're going to file it as if it were a security some people like So are you saying Celsius is a security? Yes, that's it. And this was back in January 15th. So I Did a video on this about seven or eight months ago on the website You still to find it when you when you scroll down on Celsius network. There was a thing here. It said SEC It's not there anymore But you can still find it if you just go to sec.gov forward slash Edgar a link in the description If you put in the company name I just put Celsius and Celsius network popped up. There's three different things So you got D. A notice D notice of sales of unregistered securities and D notice of sales of unregistered securities This is on July 13th. First. I was like, well, let me make sure I got the right thing. So what is Filing a form D and that is let me blow this up So form D is use a file notice of an exempt offering of securities with the SEC The federal securities laws requires a notice to be filed by companies that have sold securities without registration Under the Securities Act of 1933 and an offering made under blah-blah-blah, whatever a company must file this note A notice within 15 days after the first sale. So when I came back here and I clicked on this I just want you to notice that this is Celsius network in the United Kingdom the last five years First name Alex Machinsky one in UK and then he got Daniel Leon Patrick Martin Who are the rest these guys are and then whatever and what it states right down here like he's going type of securities offered click other digital token Combination tracks and yes minimum investment except a 25,000 and then sales compensation none and none So really what Celsius did was pretty smart They go we don't know what it is and you guys don't know either and you can't get your stuff together So we're just gonna say as a security and then we're gonna file it with the SEC and that's it and that's I mean as things come come forward I mean maybe Celsius will be the only ones that is actually protected But we will see but I just don't see them going through everybody and going it's a security security They could do it and that's a lot of money But I think what's gonna happen is we're gonna see snap Slaps on the wrist and so on and so forth, but it is really just bullying and that's it for so Let me just think about that that piece. I thought it was interesting that Celsius is security It's probably smart move and lastly want to talk about this is a great commercial And I'll let you watch it and you decide if this is good for mass adoption. This is from FTX Sam Bakenfried genius over there big into well, Solana. We know that but this is a great commercial with Tom Brady and friends and Check it out. Can I talk to you about something? Yeah, we talked about it. I got another 10 years left Maybe 15 not bad. This is big What do you think are you in you know what man, let's call everyone hang on Day you call this number Okay, I'm in whatever that was my mom Yeah, I'm gonna man. I'm in yeah Arthur I quit I'm in T-bone downstairs toilet again. Hello Tom. I'll be going to mark I mean, I mean, all right, this last one might be tough. No, he loves you This guy First even if you want like a bag, I wouldn't take you. Yes, you would yeah, we would right we would what's up? I'm getting into crypto with FTX We're providing gives 360 degree access to the crypto markets with the ability to trade everything from Alts to DeFi Believe I'm in but still hate you understood. Thank you. Best of the family. Is he in yep? Did he say you hate you? He did even on the phone that guy sounds handsome Genius genius commercial great job A Little bit better than the best voyagers with Rob Gronkowski. I like this one a little bit better and so it was so That is what is going on in today. So some bad news some good news depends on how you take it And that's really what's going on. So look I've made all over the end. First of all, thanks for sticking with me I appreciate it like the video give it thumbs up. I'll consider subscribing all things talk about time-sensitive Go over everything and that's it for today. So thanks so much. Appreciate it. See you on the next one