Crypto news: We bring you a round-up of what went down in crypto this week. And the knives are out for Gary Gensler, the chief of the Securities and Exchange Commission.

Last year it was Do Kwon and Sam Bankman-Fried who vied for title of crypto public enemy number one. Now, the crypto sector has set its sights on Gary Gensler. 

Gensler Becomes Public Enemy # 1

One of his biggest critics is David Sacks, the tech entrepreneur of Paypal Mafia fame. Sacks reckons Gensler is “far exceeding his authority” in effectively curtailing the ability of U.S. citizens to trade cryptocurrencies.  

“It is not up to the chairman of the SEC to say that Americans should not be holding crypto,” he said.

In the space of a week, major exchanges like Robinhood have delisted tokens classified as securities by the SEC. While the U.S. arm of Binance has been forced to suspend USD withdrawals and deposits entirely.

And to set the cat among the pigeons, one lawmaker in Hong Kong openly invited Coinbase to relocate.

Johnny Ng made a blatant play for Coinbase’s business by saying: “I hereby offer an invitation to welcome all global virtual asset trading operators including @coinbase to come to HK for application of official trading platforms and further development plans.” 

Crypto Socially Speaking

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Author: Geraint Price

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