 I'm digital asset news. My name is Rob and today. I've got to tell you there's something about the timing with what's going on with the SEC in regulation Which is it's just uncanny and what I'm talking about of course is as you may have seen throughout the YouTube in the Twitter spaces and Twitter And all the social media outlets that of course the SEC had dropped the hammer on crack in and stopped Staking for retail investors the United States and we did a video this morning where I said hey You know on some parts of what Gary talked about He's right and I could have sworn I could have sworn that I get ripped apart for this one Because it didn't make sense what he was talking about and a lot of you Listened to what Gary talked about and said yeah on some of these points. He was correct now He's not correct a hundred percent. Let's just make that extremely clear But for every story there's always two sides So you got to take a look at the flip side the good and the bad and of course after this happened What we could see with the markets is of course a little bit of pullback not surprising but not Catastrophic like I thought may have happened So there's a little bit resiliency in the market and that is good to see and then on top of that Why I talk about the things that are happening and of course, I think that this is just getting started this is from Mario and awful and He runs the a lot of the Twitter spaces a lot of big names big celebrities and big people in the crypto space and He said look this is just in the SEC the New York Department of Fence Services and the OCC the Office of the Comptroller the currency Will be bringing a myriad of enforcement targeting exchanges banks and Tokens why is this important? It's important because like with exchanges. It's not like they're looking at like the projects themselves It's the centralized exchanges. It's the greedy people and of course those people have to be fleshed out The banks Silvergate and the things that are going on we'll get in a second. It's about money laundering and yes Amazingly that does happen in banks and of course with tokens We'll see how that all works out but I can see how this could be just a start about what they want to do Gary Gensley the charge expect significant announcements in the coming days and weeks and Not to be outdone guy over at Coin Bureau drop this little little nugget today and said look Paxos support Paxos reportedly being investigated by the New York Department of Fence Services and They are responsible for Pax gold SEC chairman Gary Gensley had once said that stablecoins could be securities So again, there's a lot of things that are happening a lot of moving parts of the SEC bears down And on top of that there's also a story a couple days ago SEC ones that retirement accounts Crypto stakes may be unregistered securities I think this is the the bigger issue because when people hear about retirement accounts, of course I always think about I trust I have I've been using them for two years straight now They are a sponsor of the show and there are links in the description for affiliate links You don't have to use them But if you'd like to that would help the show itself, but this was another Bit of regulation that's coming out with the SEC and you got to think to yourself Well, they're gonna crack down everything, but it's all about the wording So here's what this is investor alert self-directed IRAs and the risk of fraud Self-directed IRAs, which is what I trust is Allow investment in a broader and potentially your riskier portfolio such as real estate private placement securities precious metals other commodities and Crypto investors should be mindful that investing through self-direct IRAs raises risk blah blah blah So it goes through here quite boring stuff, but it really just comes out of this This is what they're all hyped up about So there's the SEC is saying look crypto assets may be securities that are offered without SEC registration or a valid Exemption from registration Gary gingers made no bones about it like look I think everything is essentially a security outside of Bitcoin and they state many of the trading platforms the Exchanges for these crypto assets refer to themselves as exchanges which may give investors the Misimpression that they have registered with the SEC. I don't know if anybody believes that outside of crypto But sure I could see it so it really just comes down to What Gary talked about in this video this morning again You can watch that where I go into depth about what he talks about here. I'm not gonna do it on this Specific video, but it's what he talked about later in the day and then just so you know What happened with Kraken? Well, they got a slap on the wrist 30 million dollars I know some people would say well, that's a lot of money. It's not that much for how much they were pulling down so That all comes out of this the question then becomes with with Gary like what do they want? What is their view and this was on squawk box and I've got the host name But he just says look he goes explain it's like I'm five. Why'd you guys do this and what's going on? Listen to his response and tell me this doesn't make sense Andrew what Kraken was doing was asking the American public for their points Crypto tokens and saying I'll give you a return four percent to twenty one percent Returns and the problem was they were not disclosing to the investing public The risk that the investing public was entering into and we have a basic bargain in the United States since the 1930s You can take whatever risk you want Companies like Kraken can offer investment contracts and investment schemes, but they have to have full Fair and truthful disclosure and this puts the investors who watch your program in a better position That's our basic bargain. They were not complying with that basic law And really if you just take a listen to what Gary said and take it for a base value like okay That makes a lot of sense. However, you have to remember a couple of things So if he's just talking about oh, it's just just just a risk problem And they just have to disclose some information if that was only the problem with Kraken I'm sure they would have said look we don't want to lose a multi-million dollar industry for just Staking and all they have to do is just disclose. There's a lot of risks I'm sure that could be spun up by legal compliance very quickly I think it's more about the securities and them saying, okay, these are unregistered here These are registered here is I need to register them What is the guidelines and of course the problem is with everybody that I've talked to and everything that I've heard It's they don't give a clear path to how to actually do that and that is the big problem On top of that when he talks about we have an ability here in America that you can take as many risks as you want to Because that's just what the American way is. Well, that could be true However, that's not really what it is if you are an accredited investor You can do whatever you want to do However, if you even made a bunch of money 200,000 dollars or a couple million dollars net worth You're not getting those opportunities. So I'm not going to sit here and have Gary just go Yeah, just this little thing. I agree with some of the things he talks about But here's the other side of the story To give you the full picture So on top of that, that's what he wants and this then just comes down to the flip side and the flip side is Commissioner has your pierce and this she gives us a little bit inside about what's happening now. Look I like Miss pierce here. I like what she's doing But I gotta tell you every time that I've heard her talk I've actually heard her talk here in Puerto Rico. It's always the same thing Like, you know, I really don't like what they're doing and I like not to do that Really help us but it still keeps happening. So I appreciate her efforts I just wish that there was some more output Or some more resolution to what's going on regardless I'm appreciative of the efforts that she does do but it's always the same outcome She says today the sec shut down crack and staking program The commission argues that this staking program should have been registered with the sec as a securities offering The more fundamental question is whether sec registration would have been possible Crypt related offerings are not making it through the sec registration pipeline And she goes on to terribly clarify and said it's very difficult And there's no clear guidelines as to how to do those things Because gary genzler is not doing that and allowing people to come forward just as coin base with their earned program but There are some positives on the horizon Now this is broke by uh, frank chaparro And this is from the chief legal officer paul griebel from coinbase and he said look Coinbase's staking program is not affected by today's news staking on coinbase continues to be available And staked assets continue to earn protocol rewards. What's clear is that kraken was offering a yield product Coinbase's staking services are fundamentally different and are not securities and he gives us some examples So at least that part is pretty good. Maybe they figured it out until gary comes on goes. No, maybe not so much but Even though gary is part of the government there are other people that are in Different levels who are looking at this and going this doesn't sound right. This is tom emmerer And he states and he's a representative u.s. House and he says to be clear staking enables more people to participate In building the next generation of the internet doesn't matter If you're an accredited investor or not, we can all stake gary genzel's regulatory purgatory strategy hurts everyday americans The most leaving them the dust while these opportunities are accessible offshore and that's right my man We're gonna get left in the dust as everybody just moves everything You know, it's like the bahamas like ftx did real great move and then another part of this is Where even though gary is trying to do the right job you gotta remember gary messed up gary had a lot of opportunities to Put the sec in front of things and actually stop a lot of issues And actually and before I talk about this, it really just is summed up by by ben's beautiful meme here, which is The sec protecting us from ftx luna theorist capital sells his voyager and block fi And then of course the only thing to do is crack a stake. So what this is is the other member again I think gary messed up He missed an opportunity to protect or to do his job and now he's coming full force like okay. I'm just gonna rare it the problem is Is because of that he is being called before congress. This is rep bill fazinga nailed it uh republican michigan's fourth congressional district and he just pretty much says like this I will link this in the description so you can read it But really what he wants to talk about Is he's like look you talk to the ftx and sam bakeman freed there was some really funny timing about all this So we need all the records and communications between you and spf Uh between all the employees and everything has to do with the sec and them and please provide that no other than 5 p.m On friday february 24th. So we get to the bottom of this. So it's not over For gary right now and not that i'm wishing harm anybody but you know, you got to answer You got to answer the bell and that's just what it comes down to and then lastly Other good parts is it's not just america i'm an american and i'm a I try to be a patriot through and through but it's not just about america We're not the center of the world all the time even though we think we are and brad garlinghouse From ripple really lays it out like this he goes remember this he goes look dubai Just publish an extensive new set of tech agnostic rule books for crypto market participants covering compliance standards Advertising issuance and much more australia's treasury Is looking to reform licensing and custody for crypto the uk new consultation reflects the government's intent to establish a Proportinate clear framework that allows firms to innovate while maintaining financial stability south korea's financial services commission publishes guidelines That deal delineate what would be considered a security token versus a payment token Now that they're separately governed which is amazing to me that we can do this in other countries But for america we just can't seem to wrap our heads around just a funny time And when i talk about timing what i'm talking about is this and i'm going to use brad's example Right here Timing as far as the four year cycles, you know, i'm a big believer in that again is a recap It all starts the halving in 2012 you go halving a bitcoin halving all time high Then things crash then get a reset that happened again in 2016 halving all time my dip reset happened again Just a couple years ago 2020 All time i dip and reset as far as timing ripple and xrp holders on myself included Uh, they got hosed because when the sec came out for them for unregistered securities at ripple You know when they caught them around november december of 2020 that's when that whole Legal fiasco started can't believe it's already been Gee it's already been two years unbelievable and they're still locked They missed out on these enormous gains all the xrp holders did Because of gary genz are what's going on at least this time genzler's doing things In my opinion at the right time because let's just say They start to ramp up things we're in 2023 more in the very beginning. He ramps up things Take some a year or so right maybe a year and a half I don't know and then during this time remember we're we also have the outlook of a potential recession coming which usually happens when the 10 and 2 years yield switch which happened in june july of 2022 so pick that 12 months out We could be in 2023 maybe a recession towards the end of the year and if that happens and Regulation happens and we're all fighting everything crashes down great. I'm dollar cost averaging I can't wait for that to come down because i'm gonna pick up a bunch of cheap crypto And it takes for a little while for it to of course the recession to for us to bog through that Also to go through congress then figure out what the heck gary was doing and then for them to get some actually rules as to What's the security? What's the commodity? What's the currency? What's the digital asset and it figured all out and then what happens after that about a year and a half Oh, we're in an all-time high time frame So That's where I see things and I know it sounds like some really junk Timing right now, but maybe works out in our favor. Who knows i'm not saying this is exactly what will happen The timing is uncanny. So look that does it for today's video I would like to just make mention of two things if you are in the portorico area on sunday eight o'clock a.m We go there to volunteer for time and we walk all the shelter dogs as much as possible So I need you guys if you're here to come out with me eight o'clock amigos de los animales The link is in the description. I'll be there at eight walk the dogs for about an hour. It's over on the boardwalk It's beautiful. We go to the beach the dogs appreciate it greatly and I treat everybody to breakfast So if you come out that that'll be fantastic Also on top of that I had a great interview with randy over at miss team crypto And I gotta tell you if you're looking at the the future of crypto, that's it right there Because it's pretty hard to match the energy level and if you're an investor looking at where things are going Look to the younger generation So I'm going to link that interview and what she does in the description below and give her a follow And she'll be on the show next week as a matter of fact, but uh, that is it for today So look I want a little bit longer not as usual uh shortened time frame, but a lot of things going on But that's it for today. So look like today's video give it a thumbs up consider subscribing All things we talk about are time sensitive, but that is it for today So thanks so much for stopping by do appreciate it and I'll see you on the next one