4 ms·

Gensler has publicly said “everything other than Bitcoin” is a security. https://cryptoslate.com/sec-chair-gensler-confirms-everything-other-than-bitcoin-is-a-

Gensler has publicly said “everything other than Bitcoin” is a security. https://cryptoslate.com/sec-chair-gensler-confirms-everything-other-than-bitcoin-is-a-security-implications-and-analysis/ https://cryptoslate.com/sec-chair-gensler-confirms-everythin... I'm not saying Coinbase has to agree with that decision, but it's a little silly they're posturing to the public like they're unaware. It's not exactly a secret. If they disagree then going to court is probably their only move.

shrimpx 3y ago
Gensler's view is clearly wrong, as there are tons of coins with the same properties as bitcoin, with no premine/ICO.
TimJRobinson 3y ago
That's not what he said. He said "Bitcoin is the only thing that is definitely not a security", everything else is undecided. Big difference. Terrible reporting from crypto slate even when it's an opinion piece.
- overthrow 3y ago
  Your quotation is not what he said. Here's the full paragraph from the original source: https://nymag.com/intelligencer/2023/02/gary-gensler-on-meeting-with-sbf-and-his-crypto-crackdown.html https://nymag.com/intelligencer/2023/02/gary-gensler-on-meet... > “Everything other than bitcoin,” Gensler told me, “you can find a website, you can find a group of entrepreneurs, they might set up their legal entities in a tax haven offshore, they might have a foundation, they might lawyer it up to try to arbitrage and make it hard jurisdictionally or so forth.” In other words, there are people behind these cryptocurrencies using a variety of complex and legally opaque mechanisms, but at the most basic level, they are trying to promote their tokens and entice investors. (Bitcoin, because of its unique history and creation story, is fundamentally different from other crypto projects in this respect.)

4 ms·

Gensler has publicly said “everything other than Bitcoin” is a security. https://cryptoslate.com/sec-chair-gensler-confirms-everything-other-than-bitcoin-is-a-

by overthrow 3y ago

shrimpx 3y ago
Gensler's view is clearly wrong, as there are tons of coins with the same properties as bitcoin, with no premine/ICO.
TimJRobinson 3y ago
That's not what he said. He said "Bitcoin is the only thing that is definitely not a security", everything else is undecided. Big difference. Terrible reporting from crypto slate even when it's an opinion piece.
- overthrow 3y ago
  Your quotation is not what he said. Here's the full paragraph from the original source: https://nymag.com/intelligencer/2023/02/gary-gensler-on-meeting-with-sbf-and-his-crypto-crackdown.html https://nymag.com/intelligencer/2023/02/gary-gensler-on-meet... > “Everything other than bitcoin,” Gensler told me, “you can find a website, you can find a group of entrepreneurs, they might set up their legal entities in a tax haven offshore, they might have a foundation, they might lawyer it up to try to arbitrage and make it hard jurisdictionally or so forth.” In other words, there are people behind these cryptocurrencies using a variety of complex and legally opaque mechanisms, but at the most basic level, they are trying to promote their tokens and entice investors. (Bitcoin, because of its unique history and creation story, is fundamentally different from other crypto projects in this respect.)