Gensler eating his words: It turns out that we always did have "regulatory clarity" and that firms were "breaking the law" except the clarity was that he was wrong and that he and his agency were the ones breaking the law

/u/OneThatNoseOneCryptocurrency News & Discussion https://ift.tt/v5VRFqa

As a general lesson in life you should be humble. I am not sure how much of a problem people have had with Gensler trying to "apply the law". It's one thing if he really believed it and did it in a good faith manner but all evidence points to the opposite and he was very loud in his proclamations about firms breaking the laws and that we already have "regulatory clarity".

And for all that much of what he has said just came back to bite him. On "regulatory clarity", we now know that the law wasn't very clear if even the SEC was wrong in their interpretation and application of the law. Either that or they misused their power to wrongly apply it. We also know that he and the SEC were the ones breaking the law in their (mis)use of authority, at least for Ripple, other similarly classed tokens, and the firms that had listed them. I'm very interested to see how the SEC responds to all this.,

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