THE HASH: SEC's Gensler Says 'No Reason' to Treat Crypto Differently From Rest of Capital Markets; Tom Brady's New NFT Drop
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 23 August 2022
⏱️ 24 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Tuesday, Aug. 23, 2022.
"The Hash" team discusses a recent op-ed in the Wall Street Journal by Securities and Exchange Commission (SEC) Chair Gary Gensler. Plus, Tom Brady's Autograph.io is launching a new interactive experience for fans.
See also: Former CFTC Chair: Here's How SEC and CFTC Can Work Together to Regulate Crypto
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Transcript
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| 0:00.0 | This is the hash podcast. |
| 0:09.9 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more, |
| 0:14.7 | with stories that matter to the crypto world, all on the hash for your ears. |
| 0:20.6 | You're listening to the Coin Desk podcast network. |
| 0:25.7 | Hey there, you're watching CoinDest TV and you are watching The Hash. I am Zach Seward. I am joined |
| 0:31.4 | today by my lovely co-host, Wendy O, Will Foxley, and Jensenassie. Jen, you're leading us off today. What do you |
| 0:39.7 | got? All right. So there's a new op-ed in the Wall Street Journal. It's titled, The SEC treats |
| 0:45.8 | crypto like the rest of the capital markets, and it's written by SEC Chair Gary Gensler. |
| 0:51.3 | He compares crypto to car manufacturers. He says, in September |
| 0:55.1 | 1966, President Lyndon B. Johnson signed the National Traffic and Motor Vehicle Safety Act. |
| 1:00.9 | Nearly six decades later, seatbelts and other basic safety features remain standard. |
| 1:07.0 | That's true, despite many innovations in automotive technology. |
| 1:11.7 | Similarly, he goes on and says the laws that were made to protect investors shouldn't |
| 1:17.8 | change just because a different technology is used. |
| 1:21.6 | So the article is mostly focused on crypto lending platforms. |
| 1:24.8 | There's not much talk about defining what's a security and what's not |
| 1:28.2 | a security. Wendy, I know you have lots of thoughts on this. So I'd love to hear your opinions first. |
| 1:34.1 | So if we're going to go by that logic, wouldn't the interest that's given back to us by leaving |
| 1:38.9 | our money and our savings account at these centralized entities, also known as bank, shouldn't |
| 1:44.1 | that be classified as |
| 1:45.2 | a security as well? I don't know. One of the things I'm having really big issues with is we're not |
| 1:49.5 | just talking about brand new technology. We're talking about brand new technology that has all |
... |
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