3 ms·
A lot of people buy houses thinking they will increase in value. Good to know they've all been doing securities fraud.
by sebzim4500 4y ago
A lot of people buy houses thinking they will increase in value. Good to know they've all been doing securities fraud.
- prottog 4y agoIf there was a startup called Homebase that was in the business of serving as an exchange where people could trade houses, the SEC might be interested ;-)
- sebzim4500 4y agoLast time this was discussed here people were suggesting that BTC was not a security but BCH was, despite being basically the same thing, and certainly both being exchanged on Coinbase.
- arcticbull 4y agoYou can google this stuff you know? Real estate does not fall under the securities umbrella. This is well established legal precedent, covered under Howey, the Securities Act, the Securities Exchange Act subsequent rulings. Real estate fails the Howey test because there is no common enterprise. https://www.compliancebuilding.com/2010/11/04/what-is-a-security-is-real-estate-a-security/ https://www.compliancebuilding.com/2010/11/04/what-is-a-secu...
- sebzim4500 4y agoWhere's the common enterprise for BTC (or BCH, if you are one of those people who somehow thinks that BCH is a security but BTC isn't)?
- arcticbull 4y agoIt's covered here [1]. I believe the common enterprise exists no matter which coin, but with Bitcoin there was never an investment of money in its launch. Don't quote me on that though. I know the delta has to do with initial coin distribution. [1] https://www.sec.gov/files/dlt-framework.pdf https://www.sec.gov/files/dlt-framework.pdf
- jcranmer 4y agoReal estate fails the "common enterprise" and "... derived from the efforts of others" prongs of the Howey test. If you decided to package real estate investment into something like a REIT, well, then you have a security. But if you're a homeowner buying a house (even a second or third house you intend to rent out), that's not a security.