That statement from Commissioner Stump could not stand in more opposition to the SEC, who continues

to refuse to offer guidance other than in enforcement actions, and which continues to insist that

Howie tells you everything you need to know about how securities laws should be applied to

cryptocurrencies. The CFTC is basically saying if we're going to regulate people under these rules,

we have to explain to them how it's going to work, and we have to figure it out for ourselves

first. Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin,

and the Big Picture Power Sh shifts remaking our world.

The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.

What's going on, guys? It is Wednesday, September 29th, and today we are talking about Krakins just announced settlement with the CFTC and why it might actually be bullish.

First up, however, let's do the brief.

First on the brief today, Elizabeth Warren likes Jerome Powell about as much as she likes

cryptocurrencies.

Powell, along with Yellen, testified before the Senate Banking Committee yesterday as part of a

requirement for these main officials to come in and talk to Congress and the Senate at a regular

clip in the wake of last year's unprecedented central bank involvement in the economy.

There was a lot of discussion, which will probably make it to other shows this week,

including Yellen's intent to go after

unrealized capital gains. But the fireworks yesterday were mostly from Elizabeth Warren. Warren accused Powell

of watering down post-financial crisis bank regulations. She said, your record gives me grave concerns.

Over and over, you have acted to make our banking system less safe,

and that makes you a dangerous man to head up the Fed, and it's why I will oppose your renomination.

That dangerous man line is the one that's making all of the press and all of the social media,

...