Lots happened today. 1) The above that you mentioned about Binance/SEC hearing about the Judge who expresses doubts about the SEC approach to crypto , calling their current approach for exchanges and projects "inefficient and cumbersome" 2) Hinman (ex SEC Chair) emails released where he was told not to declare ETH a commodity but he still did it even though the SEC enforcement team were planning possible future action against ETH. However, Hinman instead jumped on a call with Vitalik and asked him if Ethereum was decentralized and when Vitalik obviously stated yes then Hinman decided to make his famous speech. Also, the emails show how Hinman was advised be SEC legal team that he had a conflict of interest and to not discuss anything about Ethereum at all as he was at the time working as an advisor and still being paid as a partner for Simpson Thatcher who are part of the founders of the Eth Alliance = Even more sketchy is that they are still members but have since been removed from the Eth Foundation member pages - Page in 2018 (see newest members section) - https://entethalliance.org/wp-content/uploads/2018/11/EEA_July_Newsletter.pdf Page now = https://entethalliance.org/eea-members/ 3) The American Congress today launched a new bill to regulate crypto in a good way. They are fed up with Gensler and also are trying to get him fired. (this won't happen as it's seen as partisan and the Senate which is run by the other side will block it). But the actual crypto act is pro-crypto and can be seen being discussed at the below YouTube link. (They hope to get a signing or final read of the bill sometime after july 4th so things are moving quickly. https://www.youtube.com/watch?v=fAhqVJSydaA&t=3565s
This corrupt government won't let this bill pass be assured 🙏
It will be interesting to see what happens. It would seem that some sort of clarity will come soon. Also in other things that happened today I forgot to add 4) which is that today in the Hinman emails , We saw that the SEC stated that XRP/Ripple is not a security (screenshot) And still after this declaration they got sued lol. A Ripple win must be on the cards, as how could Ripple have ever known that their coin was a security if the SEC didn't even know and at the time thought that it came under commodity laws instead. A Ripple win would be good for the wider crypto industry, even if it doesn't relate to clarity for all projects (a rising tide lifts all boats)
The root is deeper then any of as imagine... Either they will ban crypto or they are acting to feed cheaper to the big fishes like black rock jp Morgan etc
number 2 is my guess but then I'm often seen wearing a tinfoil hat 😊
Anyway election is next year anything can happen ...let's see if they change their mind 😂
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