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It's not reasonable in the sense that the SEC should respond to the level of trader interest in BTC with something other than "don't trade it". The SEC has a t
by hl5 10y ago
It's not reasonable in the sense that the SEC should respond to the level of trader interest in BTC with something other than "don't trade it".
The SEC has a three pronged mission:
- Protect investors
- Maintain fair, orderly, and efficiently markets
- Facilitate capital formation
With this decision they missed on all three. No investor was protected. The BTC market today was not fair, orderly, or efficient. There was excessive capital destruction.
- JumpCrisscross 10y agoSEC isn't saying "don't trade it". They're saying don't register a security linked to it. Registration means you're complying with certain laws. Those laws, in turn, make diligence easier for investors. If you remove those baseline expectations, marginal transaction costs go up.
- johnwheeler 10y agoSays you... According to their ruling, they're doing this exactly to protect investors.
- branchless 10y agoHow was their capital destruction? People can buy in at a lower price. It's a zero sum game.
- hl5 10y agoTraders using leverage means it's not a zero sum game.
- branchless 10y agoNope. Nothing was destroyed. Usd moved from one account to another. Nobody dug up vegetables. Nobody planted any.