In 2022, the US Senate passed a bill to hire 87,000 new IRS agents to investigate citizens finances.
Yesterday, the Senate blocked a bill to monitor and audit billions of taxpayers dollars sent to Ukraine.
I'm excited to share that I'm hosting another lighting workshop this October with two of my best friends in LA. Last year in Miami was so much fun and we knew immediately after that we had to do it again asap. More info & tix for this year's workshop here: https://t.co/d4LUJFLS9B
Today highlights how the @SECGov is a failed institution. They completely missed Celsius (whose founder was indicted on criminal charges this morning) and took a big L in the Ripple case (XRP is NOT a security). They don't know where to swing, and when they do, they strike out. It's time for Congress to cut their enforcement budget and instruct them to stick to guidance and rule making.
Regarding the SEC complaint against us today, we're proud to represent the industry in court to finally get some clarity around crypto rules.
Remember:
1. The SEC reviewed our business and allowed us to become a public company in 2021.
2. There is no path to "come in and register" - we tried, repeatedly - so we don't list securities. We reject the vast majority of assets we review.
3. The SEC and CFTC have made conflicting statements, and don't even agree on what is a security and what is a commodity.
4. This is why the US congress is introducing new legislation to fix the situation, and the rest of the world is moving to put clear rules in place to support this technology.
Instead of publishing a clear rule book, the SEC has taken a regulation by enforcement approach that is harming America. So if we need to avail ourselves of the courts to get clarity, so be it.
Btw, in case it’s not obvious, the Coinbase suit is very different from others out there – the complaint filed against us is exclusively focused on what is or is not a security. And we are confident in our facts and the law.
We'll get the job done. In the meantime, let's all keep moving forward and building as an industry. America will get this right in the end.
Omfg @Julio_Rosas11 just flamed Rep. @danielsgoldman after he questioned his credentials as a witness on left-wing violence:
"It's funny to be lectured by an heir to the Levi Strauss Corporation and that's probably why he doesn't consider property damage as a big of a deal because, not only does he have that, but he also has what some people would describe as an impossibly good stock portfolio."
Heartbreaking news. Of everyone who had a hand in the 2013 revelations of global mass surveillance, my dear friend David Miranda was perhaps the most righteous—and pure.
I will never forget that when the UK broke its own laws to detain David as a "terrorist" for daring to aid an act of journalism—and threatened to throw him in a dungeon for the rest of his life—he never faltered. Instead, he dared them to do it.
It was that courage that set him free. That courage that moved the story forward. That will forever serve as the example of a man at his best.
I will miss you, David.
Stay free.
You want to fix policing? Remove their immunity so that they can be sued, and if you win, damages come out of the department's pension fund instead of from taxpayers.
They'll clean house on their own. Quickly.
Members of Congress and their spouses shouldn’t be allowed to own or trade individual stocks. Period.
I’ve got a bipartisan bill to get this done. Congress should give the American people confidence that members are making decisions in the public interest.
"If you are even a slightly above-average investor who spends less than they earn, over a lifetime, you cannot help but get rich if you are patient."
- Warren Buffett