Gensler’s Latest Take on Crypto and Securities Rules

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 10 September 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Chainalysis and FTX US. On this edition of the “Weekly Recap,” NLW digs in on the latest speech from SEC Chairman Gary Gensler. It appears reasonable, but does the crypto industry believe him? - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds by employing five key fundamentals including real-time auditing and recently increased $775 million insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at coindesk.com/ideas. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Razor Red” by Sam Barsh and “The Life We Had” by Moments. Image credit: Mark Wilson/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.8	The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Saturday, September 10th, and that means it's time for the weekly recap.
0:29.1	Before we dive into this show, however, a quick note. There are two ways to listen to the breakdown.
0:34.5	You can hear it on the Coin Desk podcast network, which comes out every afternoon
0:38.3	alongside other great Coin Desk shows, or you can listen on the breakdown only feed, which comes
0:42.4	out a few hours later in the evening. Wherever you listen, if you would take the time to go
0:46.3	leave a rating or a review, I would so appreciate it. It makes a big difference. Also, a disclosure,
0:51.8	as always, in addition to them being a sponsor of the show, I also
0:54.3	work with FTX. Finally, I want to tell you about CoinDesk's new event, the investing in digital
0:59.5	enterprises and asset summit or ideas. Ideas is designed to facilitate capital flow and market
1:05.4	growth by connecting the digital economy with traditional finance. Join CoinDesk October 18th and 19th in New York City
1:11.6	for a 360-degree investment experience, where you can source and invest in the next big deal in
1:16.8	digital assets. Use code breakdown 20 for 20% off a general pass and register today at
1:21.8	coindesk.com slash ideas. All right, this week kind of snuck up on me. Around about the middle of the week, it didn't seem
1:29.5	like all that much was going on. We were pretty well mired in the pre-fed prediction phase,
1:35.5	waiting to see what August inflation numbers come in at next week, and generally watching our
1:40.5	favorite crypto assets circle around the drain. But then there were just an absolute
1:45.2	flurry of communications regarding crypto, Bitcoin, Bitcoin mining, stable coins coming from all
1:52.5	parts of the U.S. government. So today we're going to hone in on one of those communicates,
1:57.8	this one from Gary Gensler, the head of the Securities and Exchange Commission.
	...

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