Rep. Patrick McHenry Confronts Gary Gensler: Is Ether a Security or a Commodity?

A key moment where the Chairman of the House Financial Services Committee repeatedly demands an answer from SEC Chairman Gary Gensler that he refuses to give, and reveals the dishonesty and hypocrisy of Gensler's "clarity" on regulation of digital assets in the United States.

[@budgey99]

We need more of this. Gensler’s had it way too easy up ‘til now.

[@SheilaStewart4354]

After 3 hrs he’s still getting it pretty easy

[@glenhorne4372]

Chairman Gensler intentionally is attempting to scare the entire cryptoworld sector, b/c his bosses at Federal Reserve wants to weaken the Crypto Industry "while" the Federal Reserve installs competing systems for speeding up money transfers using FedNow app, which the Fed wants all Americans to eventually use and be tracked by.

[@user-cc1lg5sz7v]

@@SheilaStewart4354he just became speaker of the house 😂

[@VS-cf8pc]

Brutal, first time someone has the balls to ask the right questions! Gensler has to go! He’s the head of the SEC and can’t answer a simple question!

[@glenhorne4372]

Yes, FIRE Chairman Gensler..! Gensler could screw up a wet dream... Crypto Industry is much more important than the internet or ole boy gotcha Gensler.!

[@dzkorev1777]

Has to go to he**. 😂

[@theoneandonly4486]

​@@dzkorev1777FCKKKK GERRYYYYY

[@glennmowatt2300]

Pinned that little weasel down pretty nicely while making his points very clearly, bravo!!

[@BD-tp6pr]

So if the rules of the law are obviously unclear, how can the SEC continue to sue and not lose all pending lawsuits?

[@johnnymac6178]

They settle almost every case. The ones that actually do go to a decision the SEC mostly loses. I think their record is 4 out of 5 so far in the Supreme Court. That’s a 20% win rate…and a lot of wasted tax dollars.

[@80feffe]

No it is now 6 cases and SEC has lost 5 of them in the supreme court

[@glenhorne4372]

Gensler is rehashing the ole Chokepoint One policy to Chokepoint 2.0, which with "vagueness" attempts to slow down crypto use & adoption while the FedNow and US CBCDs are deployed. The SEC lost its Chokepoint 1.0 case..!

[@joebudi5136]

The SEC wants it unclear. If it was clear people would just follow the rules as written bit they are no written rules. See how that works?

[@VincentHondius]

It's very costly to go up against a government agency in a court of law, so most businesses will just agree with a settlement.

[@kreakong]

Haha if this isn't the final straw for judge Torres to see clearly in the XRP case, I don't know what could be. This is actually funny.

[@glenhorne4372]

FIRE Chairman Gensler..!

[@qualik2538]

About time he was pinned down and still refused to give clarity

[@berean007]

******Rep. Patrick McHenry with the SMACKDOWN!!!!************IT'S ABOUT TIME!!!!*********

[@clayslocum290]

Geeze. Can Ripple get a transcript of this and submit it to Judge Torres ASAP?

[@cbcalkins8620]

Very good point. Something tells me Judge Torres already knows what Gensler is about and what Gensler is doing with the SEC

[@cryptocoininvestorOG]

She is listening

[@Jeanneellis2000]

@@cbcalkins8620 I pray she does 🙏 and I’m not a religious person 😂 Don’t you just love the fact that Mc Henry said “I gave you this question” 😳 so that he can prepare in advance and he still stutters and stammers!

[@TheTheinnovator]

😂

[@glenhorne4372]

Gensler and Ole Prez Joe, were supposedly FOR crypto industry in order to get elected... Now both Gensler & Biden have turned a 180 the opposite direction. Gensler and the Federal Reserve know they can't compete with Bitcoin and the entire crypto industry, tokenized Real Estate, Wine NFTs, Bitcoin as gold reserve, the Federal Reserve and their lackey Gensler are running SCARED..! They can't post their entire blockchain for audit by anyone. Hey the FED has never been audited...!

[@Mat8aios26]

Well done Rep Patrick McHenry, asking the right questions, hard and straight to the point. Gary needs to stand down OR Congress need to get rid of him. He is a Bankers boy and he is bringing shame to himself (which those in position like him don't care) and shame to the once Great America. I feel sorry for the Americans that truly love their country!

[@TripleJ69]

Totally agree !

[@marklamberson4131]

I believe they should be able to find him in contempt for his blatant refusal to answer the question and hold him in custody (jail) until he does answer.

[@dzkorev1777]

Nope. Just send that scum to H. 🎉

[@nicetna2010]

Exactly. Well done.

[@charlescarpenter9098]

Very nice, but he missed the final nail. "If there is clarity as you suggest you could specifically state whether the 2nd largest asset is or is not a security. If you can not state that, then there is no clarity. Make your choice now."

[@johnmanley2934]

How the fuck can they have honorable writing on his name card

[@jacki3370]

GENSLER HAS GOT TO GO!!!! GO McHenry! NC❤❤❤

[@H0DLTHED0R]

Thank you Mr. McHenry

[@agpmjm]

"Is Ether a commodity?" "Yes but no but yes but no but......." Thank you for the clarity Mr Gensler

[@glenhorne4372]

Our northern friends, Canada, considered crypto/Bitcoin/Eth as a Commodity..!

[@seenthelight7600]

Fire&jail this clown

[@davidhook487]

Thank you congressman thank you so much for asking the questions that he refuses to answer! His silence speaks loudly to all of us!

[@steverobinson8771]

Patrick McHenry YES! Gensler is completely beyond his remit!

[@mikecorcoran6834]

He needs to go like this entire Gov

[@Ho_Ma_Faan]

He getting cooked and I love it!

[@VinhNguyen-ul8yg]

He could not and would not answer because there is no clarity. 😂😂😂

[@Bobsi1]

OH MY GOD THERE'S HOPE FOR HUMANITY. AWESOME JOB MR MCHENRY

[@johnnymac6178]

This exchange should be the only necessary evidence for Congress to actually do something and make new laws for digital assets!

[@tropicalbreeze-hh3sh]

The gloves are off! Somebody needs to use Trumps phrase and apply it to Gary right NOW,“ Your Fired”!

[@delgunn]

Hats off to Mr McHenry….nailed this slippery character at last…

[@ValNanovsky]

Finally someone who's taking a tough stand against this bully. My respect!!!

[@davidhook487]

Fire gensler immediately!

[@JSteve22]

This is 🔥🔥🔥

[@kyleschlief4857]

This is all 5 years late but it’s about time.

[@UKvet246]

Unbelievable absolutely unbelievable, but did we really expect anything else.

[@tyronew6955]

I like this McHenry guy!!! 👍👍

[@benstr8156]

Removed SEC Head Commissioner position. Too much power in hands of {group of five}.

[@GETYOUROWN357]

I call Patrick McHenry a man with BALLS!!

[@maleman67]

Replace him since he doesn't have an answer.

[@wayne4330]

Wow! Talk about clarity! Gary is super clear is does not want to answer any questions! Lol

[@jillys3689]

Just ANSWER the question Gary. No, but Gary, its so clear. Answer the question. Gary's uncertainty and unwillingness to answer the question is proof Ripple's case of no fair notice is accurate.

[@Henchyah]

i cant stop watching

[@MigHeru333]

Judge Torres watching this with a notepad and popcorn.

[@il.l522]

He doesn't want to reply and clarify... He has to be kicked out of the SEC with the rest of Politicians And shadow forces who support him

[@Dehura]

Damn, those hands of gary are shaking like crazy

[@stephanwuertz9988]

He is nervous. His head is on the line

[@djsswift]

Seems the video is looping or the hearing is literally asking the same questions over and over and over again 😂 Garrryyyy R O A S T E D 💥🔨

[@sblive7239]

Gensler is horrible, fire him ASAP!!!

[@crazylikeafox1000]

That depends on what the word “is” is.😂

[@IAMOSIRAS13]

Bro..... GARY G AND JANET YELLEN NEED TO GO.....

[@DB-Studio1]

Ask him if he is the head of SEC or not?!

[@kungfutuber]

"I don't think you'd want me to pre-judge and I cannot speak for any one group..."

[@badazz99]

Keep hammering that Lil Weasel…😂

[@ameurmezaache5786]

I can’t believe this guy Gary teaches at MIT

[@Hunter-ex2sw]

Gensler is going to jail

[@benstr8156]

Yup as expected Gensler dodging the question. Then he has the gall to go on and say "there's sufficient clarity." Immediately after unable to answer a simple question concerning the number 2 largest asset. GARY #Gensler - THERE IS ZERO CLARITY CONCERNING DIGITAL ASSETS.

[@haroonsadiq4319]

Woah he hammered him. And showed it’s not that difficult !

[@classiccarfinder]

How can the head of the SEC REFUSE TO ANSWER YES OR NO TO CONGRESS THIS CLEARLY SHOWS SOMETHING IS WRONG

[@Jeanettegarlock]

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[@Jeanettegarlock]

@marisanugyen

[@Jeanettegarlock]

She's active on TELEGRAMS with the name above.

[@lcenfield1]

AND...nothing will come of this and Gary will slip off to the Hampton's to enjoy the rest of his week....

[@kenneththomas8299]

I love it!! It's about time he gets cornered

[@patrickcadiente1253]

Way to go McHenry 😎

[@julianwilliams7701]

slippery as an eel and the likes of Warren and Gensler live in that eel slime

[@taiphan8676]

Locked him up

[@lostones8512]

He still didn’t answer the question!!!

[@LiveFreeOz]

Gary, you're fired!

[@spongebob423]

I would love to see how much the SEC costs.

[@mk9200]

Can somebody please tell me how this guy is still a chairman at the SEC?

[@dna3169]

Oh how I waited for this for sooooo long !!!!!!!!!!

[@sopretentious]

Is there any way to make him to answer a question from Congress or else face some repercussions?

[@bambur1]

No. Hes answeering them to the best of his ablity. He would claim. These people have a noose around thier neck. They make word salads so the hangman doesnt come out

[@eduardscheibel9629]

So nice to see this…

[@AlmightyAjax]

Why is Gary not in jail with his buddy Sam?

[@hanszijffers4005]

A just question!

[@brutusmaximus5380]

Gensler apparently wants to prosecute using old laws that don't apply to cryptocurrency in order to overreach his authority. We really need congress to define cryptocurrency as nontaxable.

[@ChillinginLuzon]

GREAT content!! Semper Fi, Quick question, When was the Final Pretrial Submission Date? According to the Court's CIVIL CASE MANAGEMENT PLAN AND SCHEDULING ORDER; By the Final Pretrial Submission Date, the parties shall submit a Joint Pretrial Order prepared in accordance with the Court’s Individual Practices and Rule 26(a)(3), Fed. R. Civ. P. Any motions in limine shall be filed after the close of discovery and before the Final Pretrial Submission Date and the pre-motion conference requirement is waived for any such motion. If this action is to be tried before a jury, proposed voir dire questions, jury instructions and verdict form shall also be filed by the Final Pretrial Submission Date. Counsel are required to meet and confer on a joint submission of proposed jury instructions and verdict form, noting any points of disagreement in the joint submission. Jury instructions may not be submitted after the Final Pretrial Submission Date, unless they meet the standard of Rule 51(a)(2)(A), Fed. R. Civ. P. If this action is to be tried to the Court, proposed findings of fact and conclusions of law should be submitted by the Final Pretrial Submission Date. Sir, when was the Final Pretrial Submission Date? Thank you for your service in our beloved Corps and in this case! Semper Fi

[@Adam-mo2qw]

He was given an easy ride for most of it. This was just the start. Loads of love Congress supporting him too

[@thestakingchannel]

Yeah stick it to him it’s time to open your mouth Gary…..

[@L_MD_]

Gensler’s insidious power: rehearsed, repeated, vague responses that communicate/clarify absolutely nothing

[@conorjones7626]

Gensler talking out of both sides of his mouth as always.

[@xrpnewzealand1778]

No accountability

[@instinctualmessages5083]

That’s what I’m talking about. Got in his a..! We need action yesterday!!!

[@reubenmakgalemele3109]

Is there justice in usa over digital assets Really incompetent to the T

[@lamuertte]

Sounds like a kid trying to explain why he ate all the cookies...

[@allensanchez7421]

Keep up this good work Rep Mchenry.

[@joebudi5136]

0k fine but no More words. WE NEED ACTION!!!

[@1shoedog1]

WOW... GG is a weasel

[@myfak3apeclub23]

Hopefully it’s not just words

[@bitcoinbeast]

GOLD!!!!

[@campeon]

Gensler is a disgrace, no guidance is put out

[@carlelanal]

Fire him fire him

[@lawrencecrayton9844]

GG needs to go

[@thehustlerpost]

Let’s goooo. Get him out of here. Gary is the bad guy

[@lushaliu2997]

Unbelievable

[@bosticpoindexter6481]

👏🏾👏🏾👏🏾 salute!!!

[@thecryptaurus]

Super like 😂Grill Gary the bumbling hypocrite!!!

[@matthiass5751]

Fire this SEC guy!!!!

[@kungfutuber]

"Is Ether a commodity or a Security?" "Uh... Yes, but also no, but also maybe. I think that it's clear"

[@zonuphaon]

I always wondered about historic moments I saw in textbooks and what the people were like who lived then and what their struggles were. With today's tech, we can see these moments almost exactly as they play out live and just as genuinely when viewing them back as record. Genseler will go down in history as someone who manipulated the market to keep the con of the wealth-holders running, and make sure that a free market condition could not truly come about.

[@UKvet246]

As soon as Gensler said it's clear he should have been asked so if it's clear what is the state of Ethereum

[@glowsea5185]

He answer like chat gpt when you ask about future

[@georgdiaz7450]

I hope Judge Torres sees this

[@user-kk1pu2rt5h]

Ethereum is a security not a commodity, Ethereum meets the Howie Act perfectly therefore a Security.

[@kobbykay7962]

Ripple needs to send this golden clip to Judge Torres

[@ivermectin-bootybump1662]

Welcome to America

[@adriandeeth5456]

Is that it... Gotta be more

[@kdogg071]

What a snake

[@stephenodey5147]

Excellent

[@ryanrobinson188]

LET'S GOOOOO !!!!!!!