A Senior Journalist From Fox News Says SEC Is Looking To ‘Cut off’ All Forms of Crypto

Charles Gasparino, a senior correspondent for Fox News, offered his perspective on the SEC’s (Securities and Exchange Commission) recent crackdown on the cryptocurrency industry. The SEC is attempting to largely “cut off” cryptocurrency in all of its forms after the FTX fiasco, according to a number of securities lawyers and former SEC officials, says Gasparino.

Notably, Gasparino revealed on Twitter that the Securities and Exchange Commission (SEC) of the United States handled Ethereum and XRP differently due to the different stages of blockchain development.

It follows criticism of Gasparino’s reporting style from a member of the XRP community who cited a September 2021 story from the FOX journalist. It’s important to note that Gasparino has repeatedly stated that these are not his personal opinions, but rather what agency sources tell him.

Gasparino compared the member of the XRP community to a mommy’s boy in reaction to Mr. Huber yesterday, making reference to Will Ferrell’s appearance in the 2006 film “Wedding Crashers”. In a notable dig at the journalist’s research abilities, the self-described investigator, in turn, criticized the journalist’s translation of “meatloaf” into German.

The journalist wrote, “In the US, men who live with their moms demand “the meatloaf” for lunch. In Germany, dudes like this scream for “the sauerbraten” but somehow it doesn’t have the same ring to it. Sad ha!”

The SEC has been cautioning publicly traded businesses to disclose to investors any stake they may have in the recent crypto epidemic in the industry. Paxos Trust, a blockchain business, has been ordered to stop creating its Binance USD stablecoin, which is tethered to the dollar, by the New York Department of Financial Services (NYDFS). 

This action was taken shortly after the Securities and Exchange Commission of the United States sent Paxos a notice stating that Binance USD is an unregistered security. Paxos has been instructed to stop creating new BUSD tokens, although it will still be in charge of managing redemptions.