Crypto Regulations My Honest View/Rant

SEC Chair Gary Gensler (Famous for his MIT Vid's) stated in an FT interview that Crypto's should be Governed via a Public Policy Framework. My question, why subject new offerings to staid rule sets? What is legal in your mind should not influence in/around how the markets operate that is the basis of current Criminal and corrupt Financial process mess. 

Honestly, I feel this is a myopic approach, Crypto's are not a one size fits all like Stocks and Bonds and therefore SHOULD NOT be regulated by such that form of concept.  If tools and analysis are going to be used to show how unfair or unscrupulous Crypto's are why not utilize those same tools and efforts to show how the current system stifles and creates more inequality than Crypto's. 

Oh I know, it would ruin your cash cow.  Why not question how the current system hinders those not born into the wealthy cast?  While you are at it, question the current regulator system and how it punishes those that you claim it helps protect!  How many 'investors' were protected by reading through an Investor Prospectus? I would love to hear this vast number being shared by the SEC. 

Sure, the ICO craze helped define some of the current Crypto bias, however, not all coins/tokens went down the ICO path. Thus, don't judge them all by this rule because they are NOT all the same!

Why do I think this way? First, you have to understand that I view them as being in variety of fields broken down into different roles and purposes. Some are Assets, Some are Bridges, Some are CEFI/DEFI, some allow passive income to be earned some do not.   I am by no means an expert with more than 10K Crypto's being traded and growing each day. Show me an expert! I picked a few below to cover the broad spectrum currently available. Not including those still in the incubation phase that are much different out of the gate than those currently available.

• BTC is a digital asset why encumber it as a security? Additionally, thought that SEC stated it was NOT a security, so why lump into into that regulatory pool?
• ETH - this ecosystem giant, is the foundation for DeFi, is being utilized more and more each day and with EIP1559 burning for transactions how does the SEC feel they can inject themselves into each transaction with this already being in place?
• LTC (Litecoin is the right coin as a means of exchange) so the closest to a Currency in my view, it should be regulated like an FX or as a Fiat offering.
• Polygon is a protocol that is an advanced framework for building and connecting Ethereum-compatible blockchain networks. How do you tax that? And why would you?  Does that mean you are going to start to tax every TCP/IP transaction? Yeah, good luck with that one. 
• Theta - the Peer-to-Peer Internet Bandwidth champion is enhancing a more robust internet faster than CDNs can ever scale. I see Theta surpassing the Internet in speed, function and capabilities in next few years! 

Justice should be about making the "Framework" work for everyone not just friends and family of the rulers. Crypto's shouldn't be shackled just because you fear it tearing down the old system where you have garnered your fortunes. Another consideration is regulation as a means of control, nobody elected you King for your ability to destroy innovation nor destroy freedoms. Open your minds up to the future, Crypto's unencumbered will dwarf the Internet (yeah the former VEEP's invention) in innovation and importance for shaping our future!

Honestly the regulators should fear other Central Banks pivoting to their own settlement systems, such as Central banks of Singapore, Australia, Malaysia, and South Africa working together to develop and test a shared platform to process cross-border digital currency transactions. Bifurcating solutions is never any easy path to use of standards. They should consider why they let SWIFT go underdeveloped and under supported for 30+. Show me how I am wrong at this point! They had the top spot, where is the innovation? 

What are they afraid of?  They are afraid of the Banksters being exposed for the shills they are! Crypto's allowed to run in true DeFi fashion will show we no longer require their services. Bon Jour! 

Finance is about Trust; ultimately!  The SEC is part of the problem, not a solution. Just my 2 cents (cost adjusted for transitory inflation)

Here is my Solution proposal - Why can't the SEC have an honest open forum discussion w/ the leaders and innovators of the Crypto Realm (such as Charles Hoskinson, Pomp, Raoul Pal, Vitalik Buterin, Michael Saylor, Rob from D.A.N, then all moderated by Daniela Cambone from Stansberry Research in a hackathon format (time & project driven) held in the sunlight not the 7-layers below the surface in smoke filled rooms where they allow Dr. Evil to come and go as he see's fit. The outcome whould be to see how to best define a set of guide rails for Crypto's that contain the bad actors while not hindering the good actors. Plain, Open and Honest regulation!  As you can see I did not invite the Car Salesman, as we want honest solutions not marketing hype at this point.

So, if Gary G and his band of Merry Regulator Bureaucrats cause the take down of the Crypto realm that just means the USA will be left in the dustbin of History. Additionally, you will have a massive stampede of Citizens looking to move out of the USA and renounce their Citizenship's. 

Summary - the current system is teetering on the edge of the abyss while the haymakers keep stacking their profits for as long as they can without making any real effort to fix the jalopy they helped create and pseudo run. These hypocrites are no more interested in the equality they proclaim to seek, than the fact that we have two suns in our Solar system.  This decision could go either way, I realize you are aware of it! That is all, good day!