"This was an effort by Regulators to shore up consumer confidence in the banking system."
"Decentralized currencies like Bitcoin offer an alternative to the highly regulated and controlled national currencies of the world."
"Protecting against illicit activity, financial stability, and investor protection do, in and of themselves, promote society and economic well-being."
"If you have good investor protection, it lowers the cost of capital."
"Banks should not be able to gamble with your money without your permission."
"Citadel securities has been fined 58 times for violating FINRA register and SEC regulations."
"The goal is simply to limit the ability to swap back and forth multiple times in a day."
"People see things like short selling and all the behaviors that require regulations in order to try and prevent them happening internal markets and they still happen."
"This poll shows and almost every poll shows in this case is sixty nine percent of Americans say they want Wall Street to be tightly regulated."
"We're going to break up the large banks on Wall Street so we'll never again have to bail them out."
"Regulated brokers are good, they abide by all the rules, pay all the fees."
"If elected president, I will reign in Wall Street so they cannot crash our economy again."
"I support reinstituting a modern version of Glass-Steagall."
"I'm going to defend Dodd-Frank and I'm going to defend President Obama for taking on Wall Street."
"Honestly, whether it's in relation to Abramovich or Abu Dhabi coming in, what this all proves is that we need a regulator."
"The vast majority of all crypto tokens are unregistered securities."
"We really need to regulate the flows of capital and that requires international cooperation and also the closing of tax havens."
"We are moving into Basel III compliance at the end of the year."
"The SEC chair says innovation around DeFi could be real, wow, wow, wow, that is really cool."
"It's very hard to enforce it and actually that's kind of a history of financial impressions."
"We see the dollar coming apart, our economy coming apart, we see this what's happening with FPX. Now that there's going to be the big push for the cryptocurrency regulations..."
"The fact that a panic in an algorithmic stablecoin like Terra is spreading to backed stablecoins like Tether could be of concern to financial regulators."
"Regulation should target scams, not good projects."
"Taxpayers are never again on the hook for Wall Street's mistakes."
"We must evolve our understanding of banking in light of changing Technologies and emerging risks."
"Bernie has a whole history of fighting back against the regulation of banks."
"The SEC has just proposed a sweeping set of rule changes designed to better level the playing field."
"We believe in enhanced transparency through robust and appropriate disclosure requirements."
"FDIC is wanting to ensure stable coins to allow Banks to start holding stable coins with insurance."
"This OCC news about declaring stable coins basically usable and tradable for payment activities from banks is big."
"This is big, but it's not as big as the very next line here in yellow: These actions reduce regulatory uncertainty and simply recognize the fact that crypto assets are a significant and growing part of the global financial system."
"Bernie Sanders is right on the money about Wall Street banks running wild."
"Credit where credit is due - the Consumer Financial Protection Bureau wouldn't exist without Elizabeth Warren's fight."
"Coinbase is basically a bank. They have banking charters, they have banking licenses, they can now issue their own Visa cards."
"That's why we need to learn what the bankers have learned: the recipe for the best way to rob a bank, so that we can stop that recipe."
"I think you really do want that cop in the B, the SEC, on the beat in the crypto ecosystem."
"It's control as you saw in Canada with Bitcoin if Trudeau can turn that off for a bunch of truckers or turn off their checking accounts imagine how much easier that's going to be with Central Bank digital currencies."
"Could we see the FSOC draft regulations that could make it clear what agencies actually are going to regulate crypto?"
"The minute we get clarity there, you will start to see structured capital." - Paul Barrow
"The stock market might be a jungle but the SEC is finally waking up from the coma."
"A lack of clarity from the SEC about what is and what is not a security is hurting the industry."
"You can file comment letters with the SEC or FINRA. That's an excellent way to get involved, and they do read them and they do listen to well-thought-out comments."
"Bitcoin transactions and possessions of cryptocurrency are not prohibited."
"Regulators are worried about whether stablecoin firms hold enough liquid assets to back up the value of the currency they issue."
"Personal gain for Jay Clayton: A theory behind the SEC's actions."
"The world's most influential banking regulator thinks banks with bitcoin exposure should set aside capital to cover losses in full."
"The making Chinese companies de-list on the stock market if they don't actually allow audits to happen."
"Gary Gensler has similarly said that 'Nothing about the crypto markets is incompatible with the securities laws. Investor protection is just as relevant, regardless of underlying technologies.'"
"However it gets passed, the SEC needs to make a move here."
"You can check in with the SEC but you can never leave." - Warren Davidson on structural issues with the SEC.
"Stablecoin legislation would hand Authority from the SEC to the federal and state bank and credit union Regulators." - New draft legislation's impact on stablecoin regulation.
"Yeah, this is all due to the dereliction of SEC and their lack of duty for seven years."
"Running a program that is making people millionaires is the best way to make sure no would-be corporate wrongdoer feels safe."
"Yesterday was huge in the ripple versus sec case. I mean it was huge."
"Blockchain technology is the best choice for textile providers to improve supply chain traceability."
"Ripple partner Wiz Financial gets regulator green lights to acquire UAE Exchange."
"Regulatory clarity happening right now is setting us up to see a massive increase in the value of these digital assets."
"What we need is regulatory clarity for crypto, not the SEC swinging its billy club."
"If it's not a security, it is most likely a commodity."
"The idea that XRP, which we use as a currency, the idea that it's a security, I think is just misguided."
"The FED has over the decades steadily expanded its lender of Last Resort function."
"Any bank in the United States that is holding a banking license for fiat currency can now also custody cryptocurrency."
"The regulatory clarity is coming with it, it really is coming with it."
"We need more people like Brian Brooks in these positions."
"Funny how they scream regulation at the sight of regular people doing what they've been doing for decades."
"There's risks in everything but I love the idea that the regulator is going to really you know but when they regulate it they're basically voting as a real asset class provided they don't regulate it out of existence."
"Panama's crypto law exempts digital assets from capital gains tax."
"Regulation creates clarity, opens up the door to institutional investors..."
"The SEC is claiming because Ripple was instrumental in creating a secondary market for XRP, all XRP are therefore securities. If successful, the same thing could be argued versus Vitalik Buterin, Joseph Lubin, Consensus, etc." - John Deaton
"Wall Street showed everyone the game is rigged and they're going to change the rules. It's nothing new, we all knew it, it's just a reminder."
"The U.S. is really the top destination for dirty money."
"The SEC approves the first leverage Bitcoin Futures ETF."
"Government should be protecting people and the real economy from predatory finance."
"OCC gives another bank charter out to a digital asset company."
"When the SEC says something it's closed and shut."
"With all the heat on tether, expect stable coin scrutiny."
"SEC has no plans to ban crypto, but it would be up to Congress."
"There is going to be a massive battle like David and Goliath."
"Bitcoin has been determined to be a commodity under the commodity exchange act."
"We are beginning to enter into a very, very interesting time around regulation."
"The SEC cannot represent XRP holders while seeking to destroy that market."
"If in fact, after this case is settled, I believe we will see the kind of regulation and clarity that comes in that it won't be possible for another entity to do what Ripple has been able to do the way they've been able to do it."
"What you're seeing with State Street in the agreement for Texas to greenlight banks to custody crypto is the stage being set to bring cryptocurrencies in this new asset class inside of the legacy firms and the regulatory structure."
"UEFA has brought in new financial regulations which will limit club spending on wages, transfers, and agents' fees to 70 percent of their revenue."
"Gone are the days of fear of detrimental regulation."
"If you saw that very interesting quote from that document it says that basically until there is a judge that makes a decision on whether Ripple is a security or not we're not going to have Clarity in the space."
"Perhaps through an automated centralized system, this would prevent multiple short sales on the basis of a single share."
"We not only have to talk about the SEC.gov suspending, but we also have to talk about CEOs of major banks testifying this week."
"Janet Yellen says crypto has its benefits, and treasury hopes to offer guidance on regulatory regulation that fosters healthy innovation."
"The SEC needs to provide more regulatory clarity."
"This is a perfect storm, especially as we approach Basel III rules coming into force in March."
"This is one of the most important parts of this right here: a digital dollar would also hinder illegal activities that rely on anonymous cash transactions such as drug dealing, money laundering, and terrorism financing."
"This kind of regulation that we really do need if companies are telling us, 'Hey, don't worry, our stable coin is backed one to one, then prove it.'"
"Bail-in laws allow your deposits, CDs, bonds, and the bank itself to be converted into shares of stock in a failing bank."
"Cryptocurrency does actually need regulation."
"XRP is not a security; it's really clear to us that XRP is not a security."
"Is it really more fair for the SEC to withhold $40 million than spending three years to figure out a slightly more optimal distribution of those funds?"
"There is, in fact, a need for regulatory clarity. The SEC should consider issuing a request for comment regarding areas where additional guidance is needed." - Torres
"They cannot regulate Bitcoin because they have no control over the Bitcoin system."
"72.01 percent voted in favor of setting a limit on interest rates for medical debt."
"A final guidance issued by the UK's financial conduct authority is offering long-awaited regulatory clarity for XRP in the country."
"All this financial stuff stopped coming out of Congress."
"You don't need somebody like Yellen coming in."
"But we've got to start protecting investors and protecting people from uh you know scams rug pulls the whole nine yards it's a very complicated process though but I think that's the way to do it yeah absolutely."
"Will they enforce the rules is the actual biggest question."
"Is it possible there are some JP Morgan email addresses in those documents the SEC is hiding?"
"My final point with this is anger. Who shorted the market? Why did the government allow this to happen? What are the whales doing? Oh my gosh, somebody's manipulating the market."
"Stablecoins not backed by fiat could be considered counterfeit dollars."
"We've won, xrp in it of itself is not a Security."
"Heck, even amend the Federal Reserve Act yet again to restrict what the FED can do."
"The best case scenario is regulatory clarity for XRP."
"Regulators will take away wrong lessons from this situation, and people really need to think carefully about where they hold their tokens."
"Anyone who thinks that everyone's gonna follow Basel, you're dumb as a rock."
"What happened with FTX must never be allowed to happen again."
"The US is making a mistake by regulating the future of finance instead of embracing it."
"As more time goes on, USDC or something just as regulated is going to be where a lot of large money decides to move into stable coins."
"Wyoming's statute requires proof of reserves as part of the audit process."
"Cryptocurrency legislation 2021... Why in the hell would they all be putting in legislation if cryptocurrency wasn't here to stay?"
"It's also very interesting that the Treasury is going to be releasing some framework and recommendations and guidelines based on crypto and digital assets and stable coins in very near-term..."
"If the SEC does indeed lose this lawsuit against Ripple, they will probably lose about a good 99% of their prominence within the cryptocurrency space."
"Insider trading laws are murky, it needs to be defined."
"We have to offer a viable alternative because it's not okay to have every single thing in the entire world trillions of dollars of assets just floating around with no ability to understand and put Consumer Protections in these types of things."
"Sharpened weapons might be better because we do have a bunch of melee attack buffs."
"It's almost like history is happening again."
"This gives a lot of credibility and credence to support the fair notice defense for Ripple."
"The SEC basically picks out a few candidates that are part of a massive financial trend that's either breaching securities law or breaking law in some sort of way."
"An offering is made only by a copy of the prospectus."
"The repeal of Glass-Steagall Act contributed to the severity of the crisis."
"The whole point of financial regulation in the minds of the conservative government of that period was not to de-industrialize the country. It was, in a sense, to free up flows of capital to reinvent British capitalism."
"Financial regulators need to learn more computer science. They need to hire more computer scientists."
"Financial markets are inherently unstable and need to be regulated above all. I am profoundly worried that those who proclaim half-truths as the whole truth, whether they are from the left or the right, are endangering our open society."
"Higher capital standards provide large complex institutions with an incentive to reduce their systemic footprint."
"Expected shortfall turned out to be prescient because in Basel 4, VaR has been replaced for expected shortfall."
"It is time to lay down tough new rules of the road for Wall Street to ensure that we never find ourselves here again."
"Higher capital standards are about making the bank safer, but it's about making all of us safer."
"Senator Elizabeth Warren is sending a letter to the Securities and Exchange Commission asking them to address the wild fluctuations that are making the stock market like a casino."
"The purpose of the CRS is to combat tax evasion."
"The effect of the bursting bubble, the banking crisis, and the scandals cast discredit on all those involved in running and regulating the financial system."
"Strong capital requirements ensure if Wall Street bets don't pay off, shareholders and investors are on the hook, not taxpayers."
"We need to make sure that anti-money laundering doesn't occur through those channels."
"The global coordination of financial regulation is required alongside individual country macro prudential policies."
"The Basel Accords refer to the Banking Supervision Accords, which constitute a series of recommendations on banking and financial regulation."
"Financial Fair Play was mainly established to terminate the losses."
"Industry is crying out for regulatory certainty at the moment."
"We need to work on a framework for oversight for exchanges for standards like disclosure, risk management, customer protection."
"Section 1033 could unlock more competition, could unlock more opportunities."
"Sarbanes-Oxley Act makes managers personally responsible for the financial statements."
"It's not like the banking system was unregulated, it was just wrongly regulated."
"Internationally, there has been an international task force, the rather intriguingly named Financial Action Task Force."
"We are making great progress... the financial services committee passed a bill to establish a regulatory framework."