Gary Gensler Roasted by Republicans for Abuse; Democrats Say They Approve of His Work
The letter landed just ahead of Gensler’s testimony before the House Financial Services Committee, centered on oversight of the Securities and Exchange Commission, and just after the agency boss celebrated his second full year at the Commission’s helm.
“You have failed to provide a path that allows digital asset trading platforms to register,” the lawmakers wrote. “Without clear rules of the road, your push for firms to ‘come in and register’ is a willful misrepresentation of the SEC’s non-existent registration process. The only entity to blame for the lack of registrants is the SEC itself.”
Commemorating the milestone in a Twitter post yesterday, Gensler highlighted the agency’s 1,500 enforcement actions filed over the past two years, which he said involve actions against “rampant noncompliance in the crypto markets.”
Republicans Introduce Bill To Fire Gary Gensler
Prior to the hearing, Davidson stated his intention to introduce the legislation in a tweet. Subsequently, he stated that the development was to “correct a long series of abuses,” by Gensler as Chairman. Additionally, the legislation calls for a complete replacement of the role of chairman with an Executive Director position. Operating in direct relation with the board and barring former SEC chairs from being considered for the role.
The Public Is At Greatest Risk With CBDC's
Unfortunately, it seems governments recognize that CBDCs are one of the best tools for solidifying their control over money and payments. It was only just recently that a former adviser to President Biden testified before Congress that a CBDC would be the “single best step” to crowd out cryptocurrencies.
European Central Bank President Christine Lagarde even said that if central banks do not push forward with CBDCs amidst the rise of cryptocurrencies then they risk losing their control over money and payments. The Central Bank of Indonesia has said much of the same.
Featured Podcast/Youtube Short
Knight Show, hosted by JoshuaJake, BlockchainBoy, and Samuel Armes, starts off by discussing the disaster that was Elon Musk's recent BBC interview and the chaos that ensued on Twitter. They then move on to some exciting news with Twitter integrating payments, followed by a lively debate on the topic of inflation, recession, and whether we're headed for a soft landing.
Analytical Data
🥇 Bitcoin has never made a new low after the Monthly RSI crossed 50.
"Just like CPI and PPI, trade prices make clear growing disinflation and move toward outright deflation had nothing to do w/Fed rate hikes. They obviously have nothing to do w/unemployment rate, either."
"This is why OPEC gets away with production cuts. US producers won't change output no matter what happens to oil prices, to demand, to foreign supply. It's total politics, not economics. How was the Fed going to fix this with rate hikes? Now they won't need to."
In The Know
Elon Musk to launch truth-seeking artificial intelligence platform TruthGPT
“I’m going to start something which I call TruthGPT,” said Musk.
cointelegraph.com
Biden’s approach to crisis: make too-big-to-fail banks even bigger
Six weeks into President Joe Biden’s first major financial crisis, the White House’s approach is clear: make America’s biggest banks — “too big to fail” banks from 2008 — even bigger.
nypost.com
A timeline of the DeSantis-Disney fight in Florida
Here’s a rundown of how we got here.
tampabay.com
SEC charges Bittrex with unregistered operations, calls 6 tokens securities
The U.S. Securities and Exchange Commission has filed a complaint against crypto asset trading platform Bittrex, accusing it of unregistered securities operations.
cointelegraph.com
Ripple vs SEC Lawsuit Remains Most Important Non-Fraud SEC Enforcement Action Since 1946
Attorney John Deaton commented that the Ripple v. SEC lawsuit is the most important non-fraud SEC enforcement action.
watcher.guru
🚨 𝗖𝗢𝗡𝗚𝗥𝗘𝗦𝗦𝗠𝗔𝗡 𝗗𝗔𝗩𝗜𝗗𝗦𝗢𝗡 𝗖𝗢𝗨𝗟𝗗 𝗢𝗨𝗦𝗧 𝗚𝗔𝗥𝗬 𝗚𝗘𝗡𝗦𝗟𝗘𝗥—𝙃𝙀𝙍𝙀'𝙎 𝙃𝙊𝙒 𝙔𝙊𝙐 𝘾𝘼𝙉 𝙈𝘼𝙆𝙀 𝙎𝙐𝙍𝙀 𝙏𝙃𝙄𝙎 𝙃𝘼𝙋𝙋𝙀𝙉𝙎 🫵US Congressman Warren Davidson of Ohio JUST confirmed that he will be introducing legislation to fire SEC Chair… twitter.com/i/web/status/1…— Samuel Armes (Florida Blockchain Business Assoc.) (@samuelarmes) 2:40 AM • Apr 18, 2023
Events
Click here for events & meetups inApril 2023
use code “FBBA” to get tickets for just $149 (a $226 discount)!
Crypto News Heard Around the State
Tampa News
Florida’s “Bitcoin Bay” Is Leading the Way In Sustainable Agriculture With Sound Money – FBBA
fbba.io
Small businesses, this one's for you! Join us for our Bitcoin Bay business workshop and discover the power of Bitcoin. Don't miss out on this chance to grow your business! April 23rd, 10am-3pm. RSVP at BitcoinBay.Live#bitcoinbay #smallbusiness#bitcoin#circulareconomy— Bitcoin Bay (@bitcoinbaytpa) 12:00 AM • Apr 19, 2023
How Bitcoin can support the local beef industry
An organization promoting the Bitcoin economy and another focused on supporting the local beef industry have formed a seemingly unlikely partnership to improve community health and financial security. Organizers with regionally based Bitcoin Bay and the Florida Beef Initiative have united to showcase solutions that foster localized food supply chains. Together, they hope to build [...]
stpetecatalyst.com
Orlando News
“Web3 Weekly Alpa #10”🚨 We officially at Episode 10! 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥We tried a bit different format this EP. Straight alpha, shortened. If you missed anything last week in the wonderful world of Web3 🌍 Check it out! 👇🏽— Serpunk (@serpunketh) 4:40 PM • Apr 18, 2023
Miami News
Miami's crypto dream lives on
America's Bitcoin capital is defying its sceptics
unherd.com
North Miami launches ‘inclusion-focused’ tech entrepreneurship initiative
‘Keeping our talents at home while investing in their future is how you invest in your community.’
floridapolitics.com
Miami startup fighting crypto crime raises $4.3M pre-seed - Refresh Miami
Refresh Miami is the #1 provider of local technology news in Miami. Refresh has been supporting and growing the #MiamiTech ecosystem since 2006 with 15,000+
refreshmiami.com
Disclaimer: Crypto Flo DOES NOT provide financial advice. All content is for informational purposes only. Crypto Flo is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.