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Coinbase has been the one company in Crypto that tried very hard to never do anything illegal.
by rc_mob 3y ago
Coinbase has been the one company in Crypto that tried very hard to never do anything illegal.
- EA-3167 3y agoExcept for the whole, "Unregistered securities" thing, sure.
- WFHRenaissance 3y agoThey've asked for guidance on registering multiple times and have been stiffed multiple times. Stop acting like a fed.
- EA-3167 3y agoI'm 100% with the "feds" on this one, and like most people I'm sick and tired of crypto and its empty apologists. Get a new excuse already and stop blaming other people for how shit crypto is.
- deleted 3y ago[deleted]
- meepmorp 3y ago> They've asked for guidance on registering multiple times and have been stiffed multiple times The SEC said that most cryptocurrencies are securities. That's their guidance, and explains what they need to do - register as a securities exchange. They just don't like that answer and want a different one that suits them better.
- jrflowers 3y ago“It’s not a crime as long as you keep writing letters asking for clarity.” is such a cool perspective. Outside of selling unregistered securities, what other criminal activity enjoys the “But I asked about it!” defense?
- FireBeyond 3y agoNo, they've released press releases about this many times. When it came to their actual court filings, when it's time to put your money where your mouth is, they ... didn't really say much about a lack of guidance: > We disagree that the majority of digital assets are securities. For those digital assets that are securities, registration under the current rules is, for many market participants, either not possible or not economically viable given the associated and unnecessary compliance burdens i.e. "it's too much work, and/or not profitable for us". The SEC isn't obligated to make securities/commodities trading profitable for exchanges.
- PaywallBuster 3y agoand front running retail with insider information
- TacticalCoder 3y agoThen why did the SEC allow Coinbase to go public? They were already allowing to trade what the SEC now considers securities back then.
- helsinkiandrew 3y agoApart from running a non SEC registered exchange for what the SEC thinks are securities.
- mktmkrsall 3y agoDid the exchange work with regulators to get required approval before listing the asset? Which of the assets listed were not reviewed and approved by *every* state in which said exchanges operate?
- mktmkrsall 3y agoIs there any contract for future performance? If there is no contract for future performance, can there be a securities contract? Is this correct?: If there is no written contract, the state and defendants may refer to Statute of Frauds. (If there is no written contract for future performance valued at greater than like $500, defendant can motion to dismiss due to Statute of Frauds?). Do the States and the SEC have any statuory duty to provide `def is_a_security(asset) -> bool` service; wherein securities are assessed according to the Howey Test and other case law pertaining to what constitutes a securities contract? Or only after 40+ states (n exchanges per asset per state) have reviewed each asset for list?
- deleted 3y ago[deleted]
- CPLX 3y agoThey've tried very hard to create that narrative. While breaking the law.
- NotYourLawyer 3y agoSBF was good at cultivating exactly that reputation too.
- NotYourLawyer 3y agoThey try harder than the outright scams, sure. The SEC doesn’t think they’re trying hard enough though.