Focus is on unregistered Initial Coin Offerings, bad actors.

CFTC – Policy must evolve in responsible ways to grow the economy and increase prosperity.

SEC -Optimistic re developments in financial technology; should embrace the technology while protecting investors.

CFTC overview labels Bitcoin a “Store of Value”.

CFTC cite role of Millennials in shaping the digital economy.







Watch the Video Commentary to “SEC and CFTC Make Case for Rational Regulation at Senate Crypto Hearings”

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If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it – Ronald Reagan

Overview of the Senate Cryptocurrency Hearings – February 6, 2017

Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission

The Honorable Jay Clayton, Chairman, U.S. Securities and Exchange Commission; and The Honorable J. Christopher Giancarlo, Chairman, U.S. Commodity Futures Trading Commission presented to the U.S. Senate and answered questions.

SEC & CFTC to testify in Congress today re #cryptocurrencies. Will they: — Smaulgld (@Smaulgld) February 6, 2018

US: SEC, CFTC Cryptocurrency Meeting Continues Existing Regulatory Narrative https://t.co/jsJxLTu9Jm via @Cointelegraph — Smaulgld (@Smaulgld) February 6, 2018

which will encourage the normal stock jockey to invest — Smaulgld (@Smaulgld) February 6, 2018

"SEC and CFTC" Live: Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission https://t.co/mcDRUXlSin #bitcoin #Litecoin #ethereum — Smaulgld (@Smaulgld) February 6, 2018

CFTC to Take 'Do No Harm' Approach on Crypto Regulation https://t.co/Dh94sYeTKL via @CoinDesk — Smaulgld (@Smaulgld) February 6, 2018

Sen. Menedez concerned that digital currencies by venezuela and russia may be used to evade sanctions- and (mindlessly) asks the SEC and CFTC if they can do anything about it LOL — Smaulgld (@Smaulgld) February 6, 2018

Menendez asking how can SEC provide investor protection re ICOs.

SEC responds that if you are promoting securities you come under securities laws

Menedez asks why haven't the SEC approve any crypto ETFs yet

SEC say they need more comfort on price discovery before they approve — Smaulgld (@Smaulgld) February 6, 2018

Senator asking the CFTC why not MORE crypto products other than just the bitcoin futures product? He reasons won't that help with price discovery — Smaulgld (@Smaulgld) February 6, 2018

CFTC rep says they are working to add more products — Smaulgld (@Smaulgld) February 6, 2018

Senators and SEC and CFTC are showing NO interest in banning cryptocurrencies (other than those issued by Venezuela and Russia!), rather introducing new products and regulation on those products for consumer protection https://t.co/mcDRUXlSin #bitcoin #litecoin #ethereum — Smaulgld (@Smaulgld) February 6, 2018

Concerned that companies like long Island ice tea and Kodak are using "Blockchain" to pump up their stocks.

Sec says they have warned not to just change your name when you have no blockchain business plan — Smaulgld (@Smaulgld) February 6, 2018

Senator complaining that when virtual currencies are stolen (or are dealing with an offshore entity) that there isnt much you can do to get your money back- SEC not much they can do about it, CFTC admits they have not power to do anything in these type of cases either — Smaulgld (@Smaulgld) February 6, 2018

Senator Shelby asking about the stock market collapsing- good day for a crypto hearing as it highlights ALL assets go up and down, not just cryptos — Smaulgld (@Smaulgld) February 6, 2018

Not at all and the SEC and CFTC are taking the view that they will look at cryptos re fraud and general regulation- but not to make any "policy" for or against them — Smaulgld (@Smaulgld) February 6, 2018

actually the regs they want refer to ICO claims and promotion. The CFTC guy promoted the use of distributed ledger technology — Smaulgld (@Smaulgld) February 6, 2018

Dizzy Miss Lizzy Warren asking about ICOs' says some are legit and others are Ponzi scheme. She is concerned and cites FB banning ads for these deceptive and misleading ads — Smaulgld (@Smaulgld) February 6, 2018

Dizzy Miss Lizzy Warren asks How can we make ICO's safe (again no push to ban anything). It is noted NO ICOs have been registered. Hint- they want ICO's to be registered – more fees for bankers and silicon valley. BTW ICOs if securities should be registered. — Smaulgld (@Smaulgld) February 6, 2018

SEC guy says WE WANT ICO's – we want people to raise capital – But we want them to register them with us because ICOs ARE SECURITIES. SEC is happy for ICO's to exist if they are done as proper private placements. Dizzy Miss Lizzy Warren agrees — Smaulgld (@Smaulgld) February 6, 2018

disagree- take a look at the definition of security – Bitcoin is not, most ICO's are — Smaulgld (@Smaulgld) February 6, 2018

Takeaway on Senate Crypto hearings

ICO's will be scrutinized-fewer to come to market

SEC action vs some ICOs coming

ICOS that come to market will be registered/"backed" by bankers, lawyers and big investors

More money will come into the crypto space#bitcoin #litecoin #Ethereum — Smaulgld (@Smaulgld) February 6, 2018

RealPolitik re Senate Crypto hearings:

Unregistered ICOs can defraud investors

Unregistered ICOs deny SEC of registration fees, securities lawyers of legal fees, bankers of promotion fees, accountants of accountancy fees, silicon valley investors of outsized gains — Smaulgld (@Smaulgld) February 6, 2018

CFTC Chairman Giancarlo says don't dismiss bitcoin for blockchain. "Its important to remember that if there was no bitcoin, there would be no blockchain or distributed ledger technology." — Joseph Young (@iamjosephyoung) February 6, 2018

WRITTEN TESTIMONY OF

J. CHRISTOPHER GIANCARLO

CHAIRMAN, COMMODITY FUTURES TRADING COMMISSION

BEFORE THE

SENATE BANKING COMMITTEE

WASHINGTON, D.C.

FEBRUARY 6, 2018https://t.co/3LwjvIoDhk — Smaulgld (@Smaulgld) February 6, 2018



not going away- do no harm

Crypto-Hearing Post-Mortem: Bitcoin Gains On Regulators' "Balanced, Not Dismissive" Approach | Zero Hedge https://t.co/O5OtWsHs62 — Smaulgld (@Smaulgld) February 6, 2018

Head of BIS calls for clampdown on #bitcoin https://t.co/heEAyDDqh0 — Smaulgld (@Smaulgld) February 7, 2018

Gab sec compliant

————————————————————-

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You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:

BGASC.com

Golden Eagle Coins

SD Bullion

Money Metals Exchange

Check out ATB mintages

Compare American Silver Eagles for sale at:

BGASC.com

Golden Eagle Coins

SD Bullion

Money Metals Exchange



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