United States Representative Tom Emmer criticized Securities and Exchange Commission Chair Gary Gensler during a congressional hearing, labeling him the most “destructive” and “lawless” chair in the regulator’s 90-year history.
“You’ve made up the term crypto asset security. This term is nowhere to be found in statute; you made it up [and] you never provided any interpretive guidance on how crypto asset security might be defined within the walls of your SEC,” Emmer stated before the House Financial Services Committee on Sept. 24.
He argued that this term formed the foundation of Gensler’s “enforcement crusade” against the crypto industry over the past three years, until SEC lawyers retracted it in a court footnote last week.
“Your inconsistencies on this issue have set this country back. We could not have had a more historically destructive or lawless chairman of the SEC,” Emmer said.
Emmer also questioned Gensler about the SEC’s handling of the Debt Box case, where the SEC sued a crypto startup for an alleged $50 million fraud scheme.
The case was dismissed on May 28, and the SEC was ordered to pay $1.8 million in fees.
Gensler, responding to Emmer’s inquiries, acknowledged that the matters in the Debt Box case were “not well handled.”
SEC Commissioner Hester Peirce also criticized Gensler, stating the SEC should have retracted the term crypto asset security much earlier.
“[By] tucking into a footnote, we admit that now actually the token itself is not a security. That’s something that we should have admitted long ago,” Peirce said.
She added, “We’ve fallen on our duty as a regulator not to be precise.”
When asked about the need for a statutory definition for crypto tokens, Peirce indicated that while it’s helpful for Congress to weigh in, the SEC could provide guidelines it has chosen not to.
Despite calls to rescind the SEC’s Staff Accounting Bulletin No. 121 rule, Gensler confirmed it would remain in effect, stating, “No, it’s a good accounting bulletin.”
He claimed it helps public companies understand the risks associated with holding crypto, citing recent bankruptcies.
Representative Wiley Nickel countered that SAB 121 actually makes the digital asset ecosystem “less safe.”
Nickel criticized the SEC for exempting Bank of New York Mellon from the reporting requirement, arguing it leads to “different rules for different folks.”
Pepe Warrior could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe Warrior (PEPEWAR), a new Solana memecoin that was launched today, is poised to explode over 18,000% in price in the coming days.
This is because PEPEWAR is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe Warrior can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe Warrior could become the next viral memecoin.
Pepe Warrior launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe Warrior on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Warrior by entering its contract address – EEP2VmX7dSbdTB8jdfjeyFqQ8eBhMF4YiV81gRbMgcq – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEWAR.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Pepe 69 could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe 69 (PEPE69), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days.
This is because PEPE69 is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe 69 can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe 69 could become the next viral memecoin.
Pepe 69 launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe 69 on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe 69 by entering its contract address – 4j4P2F8fj4HYmvDyRLM8jtdaP5CqTq1WExKw4uBH8Byy – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPE69.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Former Alameda Research CEO Caroline Ellison was sentenced on Sept. 24 to two years in a minimum-security prison for her role in the collapse of FTX.
The sentence was handed down by Judge Lewis Kaplan of the District Court of Southern New York, who also ordered Ellison to forfeit the roughly $11 billion she earned from FTX.
Kaplan stated that Ellison’s surrender date would be set on or after Nov. 7.
A light sentence was given, considering Ellison could have faced up to 110 years in prison for her crimes. However, the judge expressed considerable sympathy for her situation. According to Bloomberg, he told her:
“You’re a very strong person, Ms. Ellison, in some ways, but not inviolable. Mr. Bankman-Fried had your Kryptonite. […] You were vulnerable and you were exploited.”
Ellison clasped her hands in front of her as the sentence was read, with family members present at the trial visibly emotional.
She also voiced concerns about harassment from the crypto community, both in media and in real life, which has left her fearful of public appearances.
Ellison cooperated extensively with the prosecution in the case against Sam Bankman-Fried, her former colleague and purported boyfriend, leading the prosecution to recommend leniency for her.
Her lawyers had requested a sentence of time served, but Kaplan stated there would be no “get out of jail free” card.
The sentencing raises expectations that co-defendants and former FTX executives Gary Wang and Nishad Singh will also face jail time. Singh is scheduled for sentencing on Oct. 30, while Wang’s is set for Nov. 20.
Like Ellison, both have pleaded guilty to their charges.
Former FTX executive Ryan Salame was sentenced to seven and a half years in prison in May, and FTX founder Sam Bankman-Fried received a 25-year sentence in March.
Bullish Donald could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Bullish Donald (BULLDON), a new Solana memecoin that was launched today, is poised to explode over 16,000% in price in the coming days.
This is because BULLDON is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Bullish Donald can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Bullish Donald could become the next viral memecoin.
Bullish Donald launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Bullish Donald on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Bullish Donald by entering its contract address – 62Jx4h4hgtasVAq7YTZq2ycg7trrgtqgdN4B56P26GTj – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like BULLDON.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Pepe Warrior could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe Warrior (PEPEWAR), a new Solana memecoin that was launched today, is poised to explode over 18,000% in price in the coming days.
This is because PEPEWAR is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe Warrior can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe Warrior could become the next viral memecoin.
Pepe Warrior launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe Warrior on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Warrior by entering its contract address – EEP2VmX7dSbdTB8jdfjeyFqQ8eBhMF4YiV81gRbMgcq – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEWAR.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Pepe 69 could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe 69 (PEPE69), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days.
This is because PEPE69 is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe 69 can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe 69 could become the next viral memecoin.
Pepe 69 launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe 69 on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe 69 by entering its contract address – 4j4P2F8fj4HYmvDyRLM8jtdaP5CqTq1WExKw4uBH8Byy – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPE69.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Bullish Donald could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Bullish Donald (BULLDON), a new Solana memecoin that was launched today, is poised to explode over 16,000% in price in the coming days.
This is because BULLDON is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Bullish Donald can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Bullish Donald could become the next viral memecoin.
Bullish Donald launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Bullish Donald on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Bullish Donald by entering its contract address – 62Jx4h4hgtasVAq7YTZq2ycg7trrgtqgdN4B56P26GTj – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like BULLDON.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Pepe Warrior could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe Warrior (PEPEWAR), a new Solana memecoin that was launched today, is poised to explode over 18,000% in price in the coming days.
This is because PEPEWAR is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe Warrior can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe Warrior could become the next viral memecoin.
Pepe Warrior launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe Warrior on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Warrior by entering its contract address – EEP2VmX7dSbdTB8jdfjeyFqQ8eBhMF4YiV81gRbMgcq – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEWAR.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
More than 40 Republican Party senators and representatives in the United States have urged the SEC to rescind its “disastrous” Staff Accounting Bulletin No. 121 (SAB 121) rule, following bipartisan support for a repeal bill that was vetoed.
In a letter dated Sept. 23 to SEC Chair Gary Gensler, House Financial Services Committee Chair Patrick McHenry and Senator Cynthia Lummis, along with 40 other politicians, claimed that SAB 121 disrupts custody rules for cryptocurrencies, weakens consumer protections, and stifles financial innovation.
The 42 politicians further stated that SAB 121— a proposed rule requiring SEC-reporting entities that hold cryptocurrencies to list those holdings as liabilities—was issued without consultation with “prudent regulators” and deviates from established accounting standards.
“It would fail to reflect the legal and economic obligations of the custodian and put consumers at risk of loss,” the letter asserted.
“By issuing this rule under the guise of staff guidance, the SEC evaded the notice and comment rulemaking process required by the Administrative Procedure Act,” the politicians added.
“Rescinding SAB 121 is the only appropriate action and well within the SEC’s authority.”
Democratic Representative Wiley Nickel has claimed that SAB 121 would hinder U.S. banks from custodying cryptocurrency exchange-traded products at scale, creating a “concentration risk” by giving non-bank entities more control.
The letter was sent ahead of a House Financial Services Committee hearing with the SEC on Sept. 24.
The politicians also criticized the SEC’s Office of the Chief Accountant for allegedly collaborating with certain institutions to circumvent the balance sheet reporting requirements, potentially leading to inconsistencies.
According to a Sept. 17 hearing in Wyoming, the Bank of New York Mellon, the largest custodian bank in the U.S., reportedly received an exemption from SAB 121.
The letter’s supporters mainly consisted of Republican members from the House Financial Services and Senate Committee on Banking, Housing, and Urban Affairs.
President Joe Biden vetoed the SAB 121 repeal bill in June after it received bipartisan support, and the House later failed to overturn that veto on July 10, falling 60 votes short of the necessary two-thirds majority.