US SEC sues Coinbase, one day after suing Binance
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Re: US SEC sues Coinbase, one day after suing Binance
#2Crypto companies think they don't trade securities which is clearly wrong and contradicted by their own advertising. People buy crypto without a real use for crypto because they think they can sell it for more later. Everyone under the sun knows this. It's obviously a security and failing to register should be met by SEC cases like this one.
Re: US SEC sues Coinbase, one day after suing Binance
#3Crypto companies think they don't trade securities which is clearly wrong and contradicted by their own advertising. People buy crypto without a real use for crypto because they think they can sell it for more later. Everyone under the sun knows this. It's obviously a security and failing to register should be met by SEC cases like this one.
Isn’t it true that the SEC wouldn’t let Coinbase register since they said Bitcoin _isn’t_ a security? It’s my understanding that Coinbase tried.
Re: US SEC sues Coinbase, one day after suing Binance
#4The end of an era.
Re: US SEC sues Coinbase, one day after suing Binance
#5Crypto companies think they don't trade securities which is clearly wrong and contradicted by their own advertising. People buy crypto without a real use for crypto because they think they can sell it for more later. Everyone under the sun knows this. It's obviously a security and failing to register should be met by SEC cases like this one.
Isn’t it true that the SEC wouldn’t let Coinbase register since they said Bitcoin _isn’t_ a security? It’s my understanding that Coinbase tried.
Article discusses Coinbase Earn, which was a staking service providing APY yields.
Is that not an unregistered financial product? That's also the kind of financial product directly behind FTX, Voyager, Gemini, and Lunacoin / Celsius collapses.
So we have direct evidence of a particular produce (staking) that is both unregistered and dangerous. That many Americans lost money over.
Re: US SEC sues Coinbase, one day after suing Binance
#6Crypto companies think they don't trade securities which is clearly wrong and contradicted by their own advertising. People buy crypto without a real use for crypto because they think they can sell it for more later. Everyone under the sun knows this. It's obviously a security and failing to register should be met by SEC cases like this one.
That's odd. All these years I thought I was exchanging dollars for Bitcoin for spending it. Thanks for setting me straight.
Re: US SEC sues Coinbase, one day after suing Binance
#7Crypto companies think they don't trade securities which is clearly wrong and contradicted by their own advertising. People buy crypto without a real use for crypto because they think they can sell it for more later. Everyone under the sun knows this. It's obviously a security and failing to register should be met by SEC cases like this one.
It's absolutely unclear what the SEC is doing here at all. Why is ALGO a security and ETH is not? They do the same thing. What are the implications of this lawsuit? Completely unclear. This is vague and unhelpful.
edit: Keep downvoting - the fact, with a clear example, remains.
Re: US SEC sues Coinbase, one day after suing Binance
#8The end of an era.
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Re: US SEC sues Coinbase, one day after suing Binance
#9The end of an era.
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Considering the EU is unable step up, I think you'll miss the enemy we knew after all is said and done (if there is a significant shift in the leading powers). I'm not wearing rose-tinted glasses about the past (I'm not American), but the up-and-coming alternatives seem real scary.
Re: US SEC sues Coinbase, one day after suing Binance
#10Always interesting how crypto prices tank after legal action is announced against exchanges. Isn't the whole point to be decentralized in the first place? Hard to believe the whole dip is due to people wanting to get their tokens off the exchanges.