Welcome to the Tech Meme Right Home for Monday, July 31st, 2023. I'm Brian McCullough today.

Brian Armstrong strongly hints that US regulators believe only Bitcoin is legal. A deep dive into what we can expect

from this year's iPhones is the US crackdown on tech to China having a real impact and the

artist that tried to take his art out of stable diffusion

only to have the community pull him back in. Here's what you missed today in the world of

tech.

Brian Armstrong says the SEC asked coin base to halt trading all

crypto except Bitcoin without explaining its interpretation of the law

before it sued coin base recently.

If true this might line up with some whispers we've heard that Gary Gensler and others in the

federal government only consider Bitcoin to be the one thing in crypto that is not a security.

Quoting the FT.

Coin-based Chief Executive Brian Armstrong told the Financial Times that the SEC made the recommendation

before launching legal action

against the NASDAQ listed company last month for failing to register as a

broker. The SEC's case identified 13 mostly lightly traded

cryptocurrencies on coin bases

as securities, asserting that by offering them to customers the

exchange fell under the regulator's remit.

But the prior request for coin base to to list every one of the more than 200 tokens it offers

with the exception of flagship token Bitcoin indicates that the SEC under chair

Gary Gensler has pushed for wider authority over the crypto industry. They came back to us and they said,

...