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While part of me agrees, part of me also thinks we have all these security laws for a reason, and allowing people to claim they don't have to follow them becaus
by mattnewton 4y ago
While part of me agrees, part of me also thinks we have all these security laws for a reason, and allowing people to claim they don't have to follow them because of what is effective just a fancy ledger doesn't sit right. I am not a securities law expert by any means but some of the tactics used in the crypto world seemed directly contrary to the intent, if not the letter, to me. I would not be surprised if we see a couple lawsuits filed sometime later this year by the state.
- animal_spirits 4y agoI'm sure any private individual can sue these founders and take them to court. But the SEC isn't going to do it.
- 0xB31B1B 4y agoLOL as of today the SEC can’t do it, horrible case ruling from 5th circuit of approvals basically makes SEC enforcement of rules illegal.
- animal_spirits 4y agoThat ruling stated that the SEC isn't allowed to enforce rules _without_ a jury. They can still take people to court but there needs to be a jury involved. https://www.reuters.com/legal/government/sec-in-house-judges-violate-right-jury-trial-appeals-court-rules-2022-05-18/ https://www.reuters.com/legal/government/sec-in-house-judges...