The U.S. SEC’s enforcement staff are reportedly unhappy with Chairman Gary Gensler over his “publicity stunt” concerning the recent settlement pabaiga paid by Kim Kardashian, Fox Business Network’s Charles Gasparino reported on Oct. 5.
SCOOP (1/3): @SEC_Enfortion darbuotojai skundžiasi @GaryGensleris pykdamas pažeidė protokolą @Kim Kardashian gyvenvietė, atsirandanti ant @CNBC per kelias minutes nuo bylos paskelbimo žmonės, turintys tiesioginių žinių, pasako @ FoxBusiness. Jie tai vadina „viešumo triuku“
- Charlesas Gasparino (@CGasparino) Spalis 5, 2022
According to Gasparino, the regulator’s staff complained that Gensler violated protocol by using media attention to prop his reputation for the Treasury Secretary position.
The staff allegedly said:
“Gensler stealthily approached CNBC for his appearance and created a video on the settlement… [an] unusual move for chairs which usually allow staff to take credit for actions and pursue broader issues.”
Gensler’s media appearance
SEC chairman Gary Gensler released a video on Oct. 3 when news emerged that the commission had fined Kim Kardashian over her promotion of Ethereum Max. In the video, Gensler said celebrity endorsements of investment opportunities do not mean “those investment products are right for all investors.”
šiandien @SECGov, apmokestinome Kim Kardashian už neteisėtą kriptovaliutų reklamavimą.
Šis atvejis yra priminimas, kad kai įžymybės / influenceriai pritaria investavimo akcijoms, įskaitant kriptovaliutų vertybinius popierius, tai nereiškia, kad tie investiciniai produktai yra tinkami visiems investuotojams.
- Gary Gensleris (@GaryGensler) Spalis 3, 2022
The SEC chair further appeared on CNBC the same day to discuss the enforcement case.
Before the recent case, the SEC chair had granted media interviews where he vadinamas most crypto assets securities. Additionally, Gensler had previously released social media videos where he paragino crypto firms to come in and talk to the commission.
SEC faces backlash
The crypto community has lashed the SEC’s inconsistent enforcement against the industry.
Vocal Bitcoin critic Peter Schiff criticized the SEC for failing to fine MicroStrategy Chairman Michael Saylor while fining Kardashian. Saylor, in his defense, stated that Bitcoin is not a security.
#Bikcoinas yra prekė, o ne vertybinis popierius. Prekės propagavimas panašus į plieno, aliuminio, betono, stiklo ar granito reklamavimą. BTC tinklas yra atviras protokolas, siūlantis utilitarinius privalumus, panašius į kelius, geležinkelius, radiją, telefoną, televiziją, internetą ar anglų kalba.
- Michael Saylor⚡️ (@saylor) Spalis 3, 2022
Another community member pointed out that the commission had failed to go after politicians like Nancy Pelosi, who is faced with allegations of insider trading.
The SEC will go after Kim Kardashian for shilling a crypto but not Nancy Pelosi for insider trading her way to a hundred million dollars https://t.co/i0bZKjaxjJ
– Dr. Parik Patel, BA, CFA, ACCA Esq. (@ParikPatelCFA) Spalis 3, 2022
Meanwhile, some wondered why Kardaishan was singled out among all of Ethereum Max’s promoters. The pump and dump project had other celebrity promoters like Floyd Mayweather, Jr., and Paul Pierce. The three are currently facing a class action ieškinys over their promotion of the token.
Source: https://cryptoslate.com/sec-staff-reportedly-unhappy-with-gensler-over-kim-kardaishan-publicity-stunt/