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This article seems to play into a trend I think I'm seeing more and more: caring more about the court of public opinion than the court of law. At least that's

This article seems to play into a trend I think I'm seeing more and more: caring more about the court of public opinion than the court of law. At least that's the impression I got from phrases such as "engage productively", "proactively engaging", "eager to hear", and others that seem to say that Coinbase has good intentions and is trying their best, while at the same time seeming to portray the SEC as uncooperative and antagonistic, through phrases such as "SEC still won’t explain", "wouldn’t say why or how they’d reached that conclusion", and others. The one that hits me the most and makes me think this is more about trying to align with the public will and not the current law is the following: "They have only told us that they are assessing our Lend product through the prism of decades-old Supreme Court cases called Howey and Reves." AFAIK, a decades-old Supreme Court case is still considered valid law, and such an appeal I would imagine would fall pretty flat in a court of law, but seems to work well in a public sphere. I'm open to being off on this, I guess I just feel a bit unsure how to proceed in this internet age, when I get the impression that people are skirting the courts of law more and more.

RustyConsul 5y ago
Airbnb, Uber, Facebook, Google, etc. all broke certain regulations or had regulations thrust upon them after the fact. Since technology companies move much faster than bureaucracy's ever can, I suspect the ask for forgiveness instead of permission is going to be an increasing theme in starting revolutionary industry's. The internet is a place that transcends locality but governments are still trying in vain to regulate them as if they were part of their jurisdiction. Certain regulation made in the globalist economy we find ourselves in, will determine which industries are cultivated within that locality.h emore obscure and burdensome the regulation, the more you will drive entrepreneurs elsewhere.
jimkleiber 5y ago
@RustyConsul, I have no idea why you were downvoted so much and frankly I feel annoyed about it. I liked your comment and wanted to continue the discussion but because some people downvoted you so much, I can't reply to your comment. I hope you see this one and realize not everyone wanted to shut down the discussion.

RustyConsul 5y ago

Airbnb, Uber, Facebook, Google, etc. all broke certain regulations or had regulations thrust upon them after the fact. Since technology companies move much faster than bureaucracy's ever can, I suspect the ask for forgiveness instead of permission is going to be an increasing theme in starting revolutionary industry's. The internet is a place that transcends locality but governments are still trying in vain to regulate them as if they were part of their jurisdiction. Certain regulation made in the globalist economy we find ourselves in, will determine which industries are cultivated within that locality.h emore obscure and burdensome the regulation, the more you will drive entrepreneurs elsewhere.

jimkleiber 5y ago

@RustyConsul, I have no idea why you were downvoted so much and frankly I feel annoyed about it. I liked your comment and wanted to continue the discussion but because some people downvoted you so much, I can't reply to your comment. I hope you see this one and realize not everyone wanted to shut down the discussion.