4 ms·
But the SEC has never told them no. They've said "we don't know, you'll find out if we ever sue you."
by friend_and_foe 3y ago
But the SEC has never told them no. They've said "we don't know, you'll find out if we ever sue you."
- Animats 3y agoDid they ever ask? You can ask the SEC for a "no-action letter", where they will officially tell you if what you want to do is OK. Here are all no-action letters.[1] Here's one for Paxos.[2] They asked for permission to run a small-scale blockchain-based clearing operation without being registered as a clearing house. No more than 7 institutional customers, a limited list of stocks, and a time limit. They got it. Somehow, Coinbase doesn't seem to be on the list there. It's a public record. [1] https://www.sec.gov/divisions/marketreg/mr-noaction https://www.sec.gov/divisions/marketreg/mr-noaction [2] https://www.sec.gov/divisions/marketreg/mr-noaction/2020/finra-fpl-20201022-15c3-3.pdf https://www.sec.gov/divisions/marketreg/mr-noaction/2020/fin...