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I think part of the confusion is, if the product is what they claim it is, it already exists with a multitude of other companies. There’s a US company named Ce
by McAtNite 5y ago
I think part of the confusion is, if the product is what they claim it is, it already exists with a multitude of other companies.
There’s a US company named Celsius in NY that already offers fixed interest for crypto and loans. Ethereum has a dozen different defi options for lending out crypto. This isn’t some new thing that the SEC has never seen before.
It seems weird that if the SEC intends to use that ruling that they haven’t yet applied it to any of the existing products on the market or at the very least released a guidance.
- ivalm 5y agoExistence of prior rule breakers doesn't mean that it is not forbidden. In reality SEC does try to pursue lots of crypto businesses and in general goes in the order of size rather than chronology.
- McAtNite 5y agoThat’s a possibility as well, and at the end of the day we only have Coinbase’s perspective on the interactions. To be honest, as someone who follows crypto, I get the impression that the SEC simply doesn’t know what they want to do with crypto yet.
- ivalm 5y agoI actually agree with you. I think it is fair to say crypto is hard to get right — on the one hand there are lots of scams, on the other hand there is a large amount of investment in non-scams.