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This is peak HN. A casual commentor in a thread who thinks they know more about the law than an entire legal team at a public company.
by jb1991 3y ago
This is peak HN. A casual commentor in a thread who thinks they know more about the law than an entire legal team at a public company.
- nickpp 3y agoNot that uncommon, I'm afraid. Check out the GDPR threads: there is a huge difference between the people who discussed implementing it with lawyers and the general public.
- linuxftw 3y agoThe facts are the SEC thinks Coinbase ran afoul of the laws and regulations around securities. Coinbase has been trying to get the SEC to either explicitly or implicitly allow Coinbase's operations, and the SEC declined to do so. They probably went through several legal teams before they found one that could be willing to try some wild strategy, or they were willing to take the Uber approach and break the law and cash the checks, hoping to outrun law enforcement and lobby for the laws to change. Yeah, I can see they're trading in unregistered securities, and they're going to have the book thrown at them for it. Anyone that's not a crypto fanboy can see they were trading in unregistered securities.
- 2OEH8eoCRo0 3y agoAnd you think you know more than the SEC
- justrealist 3y agoNo, the OP thinks the SEC is not operating in good faith.
- linuxftw 3y agoBut we should assume the opposite is true of Coinbase?
- justrealist 3y agoI'm not sure what that means in this context.
- 2OEH8eoCRo0 3y agoThis is what courts are for! Is Coinbase acting in bad faith? Is the SEC? Who knows. They will have to put up or shut up in a courtroom.
- usea 3y agoDisputing the claims that a self-interested party makes doesn't mean you think you're smarter than them. It's okay to disagree with people; even lawyers and rich people.