31–40 of 489 posts
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Zhao is a “Chinese-born Canadian” [1]. Not South Asian [2].
Earlier quoted context omitted.
This is good for bitcoin. CZ, Justin Sun, and all the scammers need to be in prison.
Seems strange to say Justin Sun an CZ are even close to one another in terms of impropriety. Justin Sun is a snake oil salesman, CZ potentially broke the law while running a legitimate service. One that worked and was actually quite successful.
Archive: https://archive.is/e1x4l
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Still no sign of workable regulations? Better get on an sue everyone for not following rules that don't exist yet...
The CFTC complaint shows Zhao et al were perfectly cognisant they were breaking the rules [1].
[1] https://www.bloomberg.com/opinion/articles/2023-03-27/the-cf...
Isn't CZ already being sued by the CFTC? Is cryptocurrency a security or a commodity and under whose jurisdiction does Binance fall? Or were they trading in both types of instruments? https://news.ycombinator.com/item?id=35327996
The SEC complaint sidesteps what Bitcoin or Ethereum are by focussing on other transactions, e.g. the ICO and trading of BNB and the private placements of its own stock.
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Ah yes, the “offhand comment by someone years before they took a position indemnifies you business for all behaviour infinitely into the future no backsies” law
If by "offhand" you mean the former head of the CFTC giving a lecture in the class he teaches on the subject at MIT while at the same time the SEC is also not taking any actions against crypto exchanges. There isn't a "no backsies" rule, but then you will have to tell me what changed about crypto between 2018 and now that made it pass the Howey test then and fail it now if you want me to believe that the government i…
Presumably you are correct and this will be thrown out as soon as it gets in front of a judge then!
Source: https://twitter.com/JohnReedStark/status/1665748594421297152
This is a legendary quote from the filing.