Gate News reports that on March 12, FTX founder SBF posted on his X account that during Gary Gensler’s tenure as SEC Chairman, he not only declared war on the crypto industry but also secretly worked with Senator Elizabeth Warren in Washington to weaken the CFTC’s authority, consolidating more regulatory power into the SEC. They also attempted to restrict crypto compliance by demanding “licenses that do not actually exist.” SBF pointed out that the SEC’s new chairman, Paul Atkins, appointed by Trump, prefers to require only licenses that are actually in existence, avoiding the power struggle of the crypto industry being caught between federal regulatory agencies.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Musk’s X Money hasn’t launched yet—but it’s already making headlines! Mizuho says it will shake up the U.S. payments market and also downgrades PayPal’s rating
Elon Musk’s financial product X Money is expected to launch in April, potentially upending the U.S. payments market and putting pressure on PayPal, as Mizuho Securities has downgraded PayPal’s rating to “Neutral.” However, regulatory variables have become the main challenge, especially the legal uncertainty surrounding crypto-asset payments and yield-generating products. X has also rolled out a “Cashtags” feature that integrates real-time financial data.
ChainNewsAbmedia9m ago
Major South Korean CEX Places SPURS Token on Trading Alert List
A South Korean cryptocurrency exchange has added the SPURS token to its trading alert list due to poor market performance and investor risks. Deposits are temporarily suspended while the token is reviewed until July 16, 2026.
GateNews1h ago
Bitcoin Transactions Face 70-Page Tax Filing Burden Annually
According to Nicholas Anthony of the Cato Institute's Center for Monetary and Financial Alternatives, spending Bitcoin on everyday purchases creates an unexpected tax compliance nightmare. The IRS treats Bitcoin as property, not currency, meaning every transaction—even a $5 coffee
CryptoFrontier1h ago
Justin Sun Blasts World Liberty Financial's Governance Proposal as "Coercion," Escalating Trump Altcoin Feud
Tensions escalated between Tron founder Justin Sun and Trump-backed WLFI over a controversial governance proposal that penalizes dissenting voters. Sun criticized the proposal as coercive and absurd, alleging WLFI attempted to monopolize power.
GateNews3h ago
DeFi Sector Faces Multiple Pressures as Yields Fall and $285M Hack Raises Security Concerns
Decentralized finance (DeFi) is under pressure as lending yields drop to levels similar to traditional bonds, blockchain activity declines, and a significant hack raises security concerns, challenging claims of institutional-grade safety.
GateNews3h ago
UK's FCA Launches Consultation on Crypto Regulatory Framework, New Authorization Opens September 2026
The UK FCA has released a consultation on regulating stablecoins, trading platforms, and related services, closing on June 3, 2026. The new framework aims for implementation in 2027, as crypto regulation in the UK currently lags behind Europe.
GateNews4h ago
