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If the SEC began interpreting securities laws as designating Pokemon card, wine and luxury watches securities, Congress would change securities laws. And that's
by ETH_start 4y ago
If the SEC began interpreting securities laws as designating Pokemon card, wine and luxury watches securities, Congress would change securities laws. And that's why they don't. They're exploiting the novelty of cryptocurrency to give it this designation without a broad backlash.
As a matter of law though, the case for being a security is no stronger cryptocurrencies than for Pokemon cards.
- skywhopper 4y agoYou realize that the “securities” at issue here aren’t just ETH and Bitcoin, right? They are packaged financial instruments. “Stake this crypto and we’ll pay you a fixed rate of return.” That’s a bond, or a bank account. Either way, Coinbase isn’t following the rules. https://www.coinbase.com/earn https://www.coinbase.com/earn