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If someone invented a new thing that was possibly but not definitely a drug requiring FDA approval, and the FDA refused to make an explicit judgement on it for
by yellowstuff 3y ago
If someone invented a new thing that was possibly but not definitely a drug requiring FDA approval, and the FDA refused to make an explicit judgement on it for years as it grew to a huge industry, then eventually brought down the hammer, that would be a bad process. The courts may agree with the SEC that Coinbase sold unregistered securities, but they had the opportunity to clarify the law years ago, and Coinbase has been earnestly seeking clarification.
- yttribium 3y agoWhich the FDA in fact have a pattern of doing with various supplements. https://en.wikipedia.org/wiki/Biomedical_Research_%26_Longevity_Society https://en.wikipedia.org/wiki/Biomedical_Research_%26_Longev... And the ATF with pistol braces. It's a standard regulatory tactic at this point.
- koolba 3y agoThe NFA rules making no sense not withstanding, the pistol brace one is particularly egregious as they explicitly said it’s legal in a prior determination and there’s millions of them in circulation.