Cryptocurrency: Operation Choke Point - USA Slaughters "Securities" And Banking Paths

grarpamp grarpamp at gmail.com
Thu Feb 9 21:24:58 PST 2023


https://www.sec.gov/news/statement/peirce-statement-kraken-020923
https://www.yahoo.com/finance/news/fidelity-schwab-citadel-create-crypto-130035044.html

Brian Armstrong
@brian_armstrong
3h
We will keep fighting for economic freedom (our mission at Coinbase).
Some days being the most trusted brand in crypto means protecting our
customers from government overreach.
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Brian Armstrong
@brian_armstrong
7h
Well said. There was no way to register (a disingenuous offer). “Using
enforcement actions to tell people what the law is in an emerging
industry is not an efficient or fair way of regulating.”
Hester Peirce
@HesterPeirce
7h
My thoughts on today's Kraken settlement: sec.gov/news/statement/peirc…
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Brian Armstrong
@brian_armstrong
Feb 8
1/ We're hearing rumors that the SEC would like to get rid of crypto
staking in the U.S. for retail customers. I hope that's not the case
as I believe it would be a terrible path for the U.S. if that was
allowed to happen.
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Brian Armstrong
@brian_armstrong
Feb 8
2/ Staking is a really important innovation in crypto. It allows users
to participate directly in running open crypto networks. Staking
brings many positive improvements to the space, including scalability,
increased security, and reduced carbon footprints.
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Brian Armstrong
@brian_armstrong
Feb 8
3/ Staking is not a security. Here’s a good primer:
paradigm.xyz/2022/10/ethereu…
Ethereum's New ‘Staking’ Model Does Not Make ETH A Security. - Paradigm

1. Introduction In the wake of Ethereum’s transition to a
proof-of-stake consensus mechanism (“the Merge”), various commentators
have suggested that Ethereum’s new staking model could result in
its...
paradigm.xyz
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Brian Armstrong
@brian_armstrong
Feb 8
4/ We need to make sure that new technologies are encouraged to grow
in the US, and not stifled by lack of clear rules. When it comes to
financial services and web3, it's a matter of national security that
these capabilities be built out in the U.S.
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Brian Armstrong
@brian_armstrong
Feb 8
5/ Regulation by enforcement doesn’t work. It encourages companies to
operate offshore, which is what happened with FTX.
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Brian Armstrong
@brian_armstrong
Feb 8
6/ Hopefully we can work together to publish clear rules for the
industry, and come up with sensible solutions that protect consumers
while preserving innovation and national security interests in the
U.S.


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