SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

Post by JumpCrisscross » Mon, Jun 05, 2023, 7:01 PM UTC

ingenieros wrote: post #53

rkagerer wrote: post #12

Earlier quoted context omitted.

If he's outside the US and the country he is in had an extradition treaty with the US, but has no comparable law in the books, wouldn't that impede extradition?

That didn't stop Montenegro from finding some other probable causes (fake passports) to arrest Do Kwon. They are now trying to decide where to extradite him. US, South Korea and Singapore all want a piece of him. https://www.rferl.org/a/montenegro-korea-kwon-terraform/3234...

Post by WinstonSmith84 » Mon, Jun 05, 2023, 7:02 PM UTC

misnome wrote: post #113

WinstonSmith84 wrote: post #61

Earlier quoted context omitted.

> Intentionally broke the law... It's not like there are much laws regulating cryptocurrency markets in the US to begin with. That's the whole point why most crypto companies avoid the US: random enforcements != clarity But I'm really curious to see whether a large country (e.g. China) or countries union (e.g. EU) is going to provide enough clarity and security as to move the innovation elsewhere from the US.

Bullshit. There are plenty of laws, just none specifically tailored to what the crypto companies would like. So, no _new_ laws. They still have to follow the old ones. Not outright breaking them, emailing each other about how much you are breaking them, making memes about how much you are breaking them - yeah, that tends to be pretty well covered.

Post by ABeeSea » Mon, Jun 05, 2023, 7:06 PM UTC

PheonixPharts wrote: post #202

setgree wrote: post #148

Earlier quoted context omitted.

My theory is that Binance execs were having these chats in an encrypted medium (e.g. WA or Signal) but didn't secure themselves against a defector. I think someone on the inside took screenshots and went to the feds (or started cooperating under legal pressure). There's even a leading candidate [0]. What's funny about this is it's a fine metaphor for what ails crypto as a whole. The technology is cryptographically se…

> but didn't secure themselves against a defector Still a surprisingly amateur move. Once worked for the Federal Government where literally everything you write is potentially subject to a FOIA request. The message all new hires were told was, very clearly: "Never put anything into writing you wouldn't be happy to be see published on the front page of the Washington Post" Anything that was even vaguely close to faili…

Post by teh64 » Mon, Jun 05, 2023, 7:10 PM UTC

fallingknife wrote: post #15

I can't see this enforcement spree by the SEC as anything other than malicious when Gensler himself said that 3/4ths of the market is not securities in 2018. https://twitter.com/ZK_shark/status/1650689125580668931 Yes this was before he was head of the SEC, but the fact that this was going on right out in the open for 10 years and the SEC took exactly no action tells me that the entire agency shared this opinion too.…

Post by notahacker » Mon, Jun 05, 2023, 7:12 PM UTC

tedivm wrote: post #58

jeroenhd wrote: post #50

Earlier quoted context omitted.

I get why you would say something like that in astonishment. By why would you ever send that out over a medium that'll leave a paper trail? Thank goodness that criminals aren't very smart. Their idiocy is doing society a huge favor.

Oh that's easy- this was the compliance officer, and by showing that he raised concerns over this he may be able to claim that he did his job as best he could under the circumstances. I'd need to see the rest of the context, but this could very well be a "cover your ass" message. Imagine if you're a security officer at a company and were just overridden on a decisions- you'd definitely want to shoot off an email desc…