11–20 of 515 posts
Finbold is not a reliable news source / site. Even r/cryptocurrency flags finbold as unreliable.
Url changed from https://finbold.com/former-us-sec-attorney-get-out-of-crypto... , which points to this. Submitters: " Please submit the original source. If a post reports on something found on another site, submit the latter. " - https://news.ycombinator.com/newsguidelines.html
"The only killer app for crypto that seems tangible is its excellent use to orchestrate global crimes."
The bias is abundant, it's well known this guy hates crypto.
Are fiat currencies treated like securities? No. Are there "best execution requirements" when I exchange my USD for EUR. No. Did somebody have to register the Brazilian Real with the SEC for it to be exchangeable in the US? No.
John Reed Stark is their expert? https://twitter.com/JohnReedStark/status/1670457201943511040 "The only killer app for crypto that seems tangible is its excellent use to orchestrate global crimes." The bias is abundant, it's well known this guy hates crypto.
It's strange to me how people keep comparing cryptocurrencies to equity, but don't compare them to their closest counterpart - fiat currencies. Are fiat currencies treated like securities? No. Are there "best execution requirements" when I exchange my USD for EUR. No. Did somebody have to register the Brazilian Real with the SEC for it to be exchangeable in the US? No.
John Reed Stark is their expert? https://twitter.com/JohnReedStark/status/1670457201943511040 "The only killer app for crypto that seems tangible is its excellent use to orchestrate global crimes." The bias is abundant, it's well known this guy hates crypto.
I mean, is he wrong? Genuinely the only other application I’ve seen which seems plausible is for use in places like Venezuela where the official currency is worthless.
If you don't hold your own keys privately and offline then you don't really own any crypto. At best you own a share in a dicey exchange that may go under at any time (due to regulation, fraud or whatever else).
John Reed Stark is their expert? https://twitter.com/JohnReedStark/status/1670457201943511040 "The only killer app for crypto that seems tangible is its excellent use to orchestrate global crimes." The bias is abundant, it's well known this guy hates crypto.
Does that make him wrong? Or somehow not a reliable commentator on the thinking at the SEC (which is what the actual article is about), given his having worked there? Bias could be an issue if he were speaking about crypto per se, but this is about the SEC.
It's strange to me how people keep comparing cryptocurrencies to equity, but don't compare them to their closest counterpart - fiat currencies. Are fiat currencies treated like securities? No. Are there "best execution requirements" when I exchange my USD for EUR. No. Did somebody have to register the Brazilian Real with the SEC for it to be exchangeable in the US? No.
This is why a cryptoCURRENCY is treated as a security.