02-28-2023, 05:27 AM
Gary Gensler is a security token
<!-- SC_OFF --><div class="md"><p>Reposting due to last flair being too accurate.</p> <p>There are four prongs that must be met to be considered a security in the Howey Test:</p> <ol> <li>A party invests money</li> <li>In a common enterprise</li> <li>With the expectation of profiting</li> <li>Based on the efforts of a third party</li> </ol> <p>This is how Gary Gensler meets all four prongs and passes the Howey Test:</p> <ol> <li>Private sector finance firms have invested money</li> <li>Seeking to harm the blockchain industry with lack of regulatory clarity, inane lawsuits, and allowing fraud like FTX and Luna Terra</li> <li>Profiting by harming and misregulating the blockchain industry and trying to make traditional finance firms the crypto custodians</li> <li>Based on the efforts of SEC chairman Gary Gensler</li> </ol> <p>Gary Gensler is therefore a security and has been one years before he became SEC chairman. He helped repeal the Glass-Steagall Act, making him one of the unregistered securities responsible for the 2008-2009 crash.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/EpicMichaelFreeman"> /u/EpicMichaelFreeman </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11dg94u/gary_gensler_is_a_security_token/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11dg94u/gary_gensler_is_a_security_token/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Reposting due to last flair being too accurate.</p> <p>There are four prongs that must be met to be considered a security in the Howey Test:</p> <ol> <li>A party invests money</li> <li>In a common enterprise</li> <li>With the expectation of profiting</li> <li>Based on the efforts of a third party</li> </ol> <p>This is how Gary Gensler meets all four prongs and passes the Howey Test:</p> <ol> <li>Private sector finance firms have invested money</li> <li>Seeking to harm the blockchain industry with lack of regulatory clarity, inane lawsuits, and allowing fraud like FTX and Luna Terra</li> <li>Profiting by harming and misregulating the blockchain industry and trying to make traditional finance firms the crypto custodians</li> <li>Based on the efforts of SEC chairman Gary Gensler</li> </ol> <p>Gary Gensler is therefore a security and has been one years before he became SEC chairman. He helped repeal the Glass-Steagall Act, making him one of the unregistered securities responsible for the 2008-2009 crash.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/EpicMichaelFreeman"> /u/EpicMichaelFreeman </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11dg94u/gary_gensler_is_a_security_token/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11dg94u/gary_gensler_is_a_security_token/">[comments]</a></span>