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So according to you, following the SEC's lead: Selling Bitcoin is legal, selling Solana is illegal, and selling ETH (Ethereum) is in a quasi-state of legal and

So according to you, following the SEC's lead: Selling Bitcoin is legal, selling Solana is illegal, and selling ETH (Ethereum) is in a quasi-state of legal and illegal. Nobody knows exactly why any of this is the case, and that's totally fine with you because you don't want to dive into any of these "cute quirky things".

ceejayoz 3y ago
They've explained their reasoning in various spots. For example: https://www.axios.com/2022/06/28/bitcoin-is-the-only-coin-the-sec-chair-will-call-a-commodity https://www.axios.com/2022/06/28/bitcoin-is-the-only-coin-th... > Elsewhere in the speech, Hinman explained: "If the network on which [a] token or coin is to function is sufficiently decentralized — where purchasers would no longer reasonably expect a person or group to carry out essential managerial or entrepreneurial efforts — the assets may not represent an investment contract."
- lmm 3y ago
  "Sufficiently...may..." but even the SEC themselves will not tell you whether Ethereum qualifies or not. That is not rule of law.
  - ceejayoz 3y ago
    Sure it is. The SEC alleges a violation of the law. The courts decide if they are right at trial. Eth is fairly uniquely complicated by the fact that it probably went from security to commodity before they could get smacked for the security period.