Among many other things,Gensler said "Nothing about crypto is incompatible with securities laws", but he is outright lying & deceptive causing [SERIOUS] harm to crypto. Because despite his words, it is in fact impossible for exchanges to register under su

We have seen Gensler make many comments about this.

“Nothing about the crypto markets is incompatible with the securities laws.”

“The rules are clear”

“The rules already exist”

“Crypto exchanges need to come under compliance with existing rules”

“Crypto platforms that don't register with the SEC do business outside the law”

In actuality, all these statements are outright wrong, and worse yet they are deceptive and likely purposefully so. Because for all the bluster Gensler makes about non-compliance, the reality is that it is impossible for crypto platforms to comply with securities laws.

Don’t take my word for it. Below are the minutes for the Committee on Capital Markets Regulation. This meeting and document exists for the main reason of rebutting the statements by the SEC head. Written quite clearly it says, the SEC’s own policies make it impossible for cryptoasset trading platforms to register and operate in compliance with the regulatory framework.

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The document, written apparently as a response to the SEC recent lawsuit actions, goes on to state two reasons:

1. Registered securities exchanges can only trade securities, but SEC rules and guidance largely prevent cryptoassets from being registered as securities. As a result, there are virtually no cryptoassets that a cryptoasset trading platform registered as a securities exchange could list and trade.
2. Even if there were cryptoassets registered as securities, existing SEC rules and guidance make it impossible for cryptoasset trading platforms to register and comply with the requirements applicable to securities exchanges.

This goes even further to underline more malicious intent by the SEC such that the SEC is arbitrarily declaring crypto assets as securities but then crypto assets also cannot be virtually registered as securities. Then in the very very small chance they are, exchanges are still unable to comply with regulations to trade said securities. At this point it sounds like a sick game. Actually, even Bloomberg’s calls out the SEC in an article and refers to it as a “dark joke” that the SEC is calling exchanges to register and comply with regulations knowing full well that it is impossible and punishing exchanges for not doing so anyway. This actually lines up well with the anecdotes of many exchanges, most notably Coinbase, where they say it is literally impossible to comply with regulations and yet they are fined and punished anyway, with many exchanges shutting down or leaving US shores.

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