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SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

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Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#391
post #349

Earlier quoted context omitted.

> Long standing in what circles? Long standing in history, long standing in diplomacy, long standing in actual freaking Louis XIV administration communique, long standing in practically everything. No offense but just because you people have a beef with Russia at the moment and they are using the term, the rest of the world is not going to change how they speak so that you dont get offended. > I don't think I've seen…

> Long standing in history, long standing in diplomacy, long standing in actual freaking Louis XIV administration communique, long standing in practically everything. That's neat, the dead are welcome to their opinions. That doesn't change where or why it's used primarily by certain parties in their English facing media. > No offense but just because you people have a beef with Russia at the moment and they are using…

It’s called “English common law” to everyone who isn’t an absolute weirdo.

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#392

Tomorrow's Levine's Newsletter will be sweet :D Btw, is there a single bitcoin exchange who is operated by people that do not behave like teenagers?

Bisq. Any centralized crypto exchange will ultimately end up being a scam because there is no reason for centralized exchanges to exist at all. There is no reason for anyone to hold your funds for more than what it necessary to complete a transaction. Because of this, there is really no money to be made.

It's amazing I don't see Bisq discussed more on HN of all places. It's probably the best example of how cryptocurrency should be traded. Custodial services have always been bad news. Decentralized, capable of anonymity, and with transparent prices. The last bit makes the huge spread of cryptocurrency more obvious, which would go a long way towards helping the casual user understand the volatility.

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#393

The same thing will happen to Coinbase. Just look at the backgrounds of their CXOs. None are qualified to be leading such a large company IMO. I bet my life the same shit is going on over there.

Coinbase is a public company and has genuine audits - I'd be surprised if they failed for any reason other than Crypto being outlawed.

> has genuine audits

Trouble with auditors is that they're paid for by the company. You try hard not to bite the hand that feeds you.

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#394
post #353

Earlier quoted context omitted.

> Contracts apparently don't exist in civil law This does sound like insincere debate. Where does in my comments it says that contracts dont exist in civil law. It says civil law is not BASED on contracts, agreeements and precedents. The common law is. And no, the complications that are so beautifully and 'respectably' named in the common law dont exist in civil law. The law is always clear - if something is not cove…

Do we have a different understanding of the word "rely"? You didn't even use the word "BASED". When you say: > It does not rely on agreements, contracts, negotiations or precedents. Why would they exist conceptually if they're not relied upon? They're obviously relied upon when.. something related to contracts is in dispute.

> You didn't even use the word "BASED".

What?!

> The common law derives from the medieval !Anglosaxon! feudal law, which is based on contracts, agreements, negotiations and precedents

This is the !very first! statement of the opening paragraph of my comment. Why are you saying that I have not said it. Have you not read the actual comment?

> Why would they exist conceptually if they're not relied upon?

Why would they be relied upon if they exist, even further, why would they be the basis of the actual law?

In civil law, the law always supersedes anything else, including any agreement that any party makes among themselves. The agreements, contracts that parties makes in between themselves cannot affect the law and its decrees in any way, and actually any contract itself must be made precisely as how the law outlines them to be made and what permits them to have. To put it in historic terms, in civil law contracts exist because the law says they can exist and tells precisely how will they exist and to what extent, whereas in common law the contractual agreements that the parties made among themselves all the way going back to Magna Carta are the basis of the entire body of law - with Magna Carta being a contractual agreement in itself.

...

Also, regarding the below comment of yours:

https://news.ycombinator.com/item?id=36205790

I will respond to that comment here because HN rate limits me, making any productive discussion totally infeasible, which is why I almost totally stopped participating on this platform. Seeing how it makes actual discussions impossible, I should altogether stop participating here. But here goes the reply:

> the paper probably isn't what you were hoping for.

The term exists, its an important term in history, political science, diplomacy for a very long while, the very Cambridge university uses it itself. At this point you should be aware that even you would be able to find many references using the term. So dont sweat it. The rest of the world is not going to stop using it just because you people have a beef with some country that uses it.

...

At this point, seeing that you have claimed that I said various things I have not said and also claimed that I didnt say things that are the very first things that I said, I have no other option but to conclude that you are an insincere debater. Which concludes our discussion since I will spare both of us of a potential unproductive discussion by disengaging...

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#395

Earlier quoted context omitted.

> 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" > And this was for an org that was doing nothing sneaky or underhanded in the slightest I disagree. That culture is one of routinely doing sneaky and underhanded things. If it wasn’t, the rule would be “don’t do anything you wouldn't be happy to…

Hard disagree- the appearance of wrongdoing can be nearly as harmful for the accused and cause as much trouble as actual wrongdoing. Both should be avoided.

Another Hard Disagree. I put everything thing in writing. If it’s not written down it didn’t happen.

Want access to prod? Sure give me a ticket. I don’t trust any place that doesn’t want things written down.

And the example of a drug trial comment being taken out of context? If it looks bad in a few years maybe it should also look bad now? And maybe steps should be taken to make it better now.

Writing things down, keeping copies of emails is the only way to hold management accountable.

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#396

Earlier quoted context omitted.

Hard disagree- the appearance of wrongdoing can be nearly as harmful for the accused and cause as much trouble as actual wrongdoing. Both should be avoided.

Another Hard Disagree. I put everything thing in writing. If it’s not written down it didn’t happen. Want access to prod? Sure give me a ticket. I don’t trust any place that doesn’t want things written down. And the example of a drug trial comment being taken out of context? If it looks bad in a few years maybe it should also look bad now? And maybe steps should be taken to make it better now. Writing things down, ke…

> Want access to prod? Sure give me a ticket. I don’t trust any place that doesn’t want things written down.

Being a sysadmin is very different than being part of the executive team that develops strategy.

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#397

Earlier quoted context omitted.

> 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…

I’ve heard this referred to as the “green eggs and ham test” for written communication. [0] >Would you like this in the press? >Would you like this at Brand X? >Like to read it on the stand? >Like it in the government's hand? [0]: https://www.legalethicsforum.com/blog/2006/12/over_at_white_...

Do you want it to be your word against your employer?

Will you employer visit you in jail?

Will they pony up and pay your bail?

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#398

Earlier quoted context omitted.

Coinbase is a public company and has genuine audits - I'd be surprised if they failed for any reason other than Crypto being outlawed.

> has genuine audits Trouble with auditors is that they're paid for by the company. You try hard not to bite the hand that feeds you.

Sure, but as a public company they're legally responsible for the audit they signed off and while the Big 4 refuse to work with private crypto companies, Deloitte did choose to audit Coinbase. I just don't believe they can get away with this level of shady stuff while a Big 4 audit them and they're under extreme scrutiny for the sector from the SEC.

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#399

Earlier quoted context omitted.

What part of “consenting individuals” is so hard for you to understand?

I mean it sounds like the individuals involved in the money exchange were consenting.

But the person getting kicked in the nuts isn’t. Who is getting kicked in the nuts when I trade on binance?

Re: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

#400

Earlier quoted context omitted.

Is the implication that the victims of hits and slavery are consenting?

Is the implication here that everyone who could be affected by a transaction should have to consent to it? In which case, sure. Hence why the government regulates transactions.

Who is getting killed or enslaved when I trade on binance?
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