3 ms·

How can someone sue in the US a Portuguese national for advertising a Chinese exchange?

johntiger1 3y ago
Probably targeted US customers
smnrchrds 3y ago
If everything that happens anywhere is securities fraud, why not this too? > If a foreign company issues stock only abroad, never raises money in the U.S. or asks to have its stock listed here, and never files financial statements or other information in the U.S., but nonetheless (1) has an unsponsored unlisted ADR in the U.S. and (2) has some misstatements in its (totally non-U.S.) disclosure, is that securities fraud in the U.S.? Sure, of course, everything is! https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://www.bloomberg.com/opinion/articles/2019-06-26/everyt... There are probably planets out there parsecs away from earth, whose inhabitants are going to be so screwed when the US government shows up to collect fines for all the US laws they have violated. > There's no point acting all surprised about it; the p̶l̶a̶n̶s̶ ̶a̶n̶d̶ ̶d̶e̶m̶o̶l̶i̶t̶i̶o̶n̶ ̶o̶r̶d̶e̶r̶s̶ laws and SEC regulations have been on display at your local planning department in Alpha Centauri for fifty of your years. If you can't be bothered to take an interest in local affairs, that's your own lookout.
- TeMPOraL 3y ago
  In Star Trek's utopian future, humans live in a money-less society, not because this is somehow better, but because everyone else in the Federation knows better than to let humans operate a currency.
deleted 3y ago
[deleted]
mschuster91 3y ago
The dude has > 400 million $ of wealth. A lot of that will have some exposure to the US - either it's held in US banks and companies, or it's held in banks that deal with the US, or it's denominated in dollars, or his income is tied to US companies (sponsorships!), and every single one of these alone is enough for the US to assume global jurisdiction.
tecleandor 3y ago
I guess it's because the suers are US nationals. Also, I think he has businesses in the US, of course he has business interests and residences in the US, and has been sued at least once in Nevada. I don't think the nationality of the exchange is important here, as they're going against CR, and not the exchange, AFAIK.

Probably targeted US customers

If everything that happens anywhere is securities fraud, why not this too? > If a foreign company issues stock only abroad, never raises money in the U.S. or asks to have its stock listed here, and never files financial statements or other information in the U.S., but nonetheless (1) has an unsponsored unlisted ADR in the U.S. and (2) has some misstatements in its (totally non-U.S.) disclosure, is that securities fraud in the U.S.? Sure, of course, everything is! https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://www.bloomberg.com/opinion/articles/2019-06-26/everyt... There are probably planets out there parsecs away from earth, whose inhabitants are going to be so screwed when the US government shows up to collect fines for all the US laws they have violated. > There's no point acting all surprised about it; the p̶l̶a̶n̶s̶ ̶a̶n̶d̶ ̶d̶e̶m̶o̶l̶i̶t̶i̶o̶n̶ ̶o̶r̶d̶e̶r̶s̶ laws and SEC regulations have been on display at your local planning department in Alpha Centauri for fifty of your years. If you can't be bothered to take an interest in local affairs, that's your own lookout.

TeMPOraL 3y ago
In Star Trek's utopian future, humans live in a money-less society, not because this is somehow better, but because everyone else in the Federation knows better than to let humans operate a currency.

deleted 3y ago

[deleted]

mschuster91 3y ago

The dude has > 400 million $ of wealth. A lot of that will have some exposure to the US - either it's held in US banks and companies, or it's held in banks that deal with the US, or it's denominated in dollars, or his income is tied to US companies (sponsorships!), and every single one of these alone is enough for the US to assume global jurisdiction.

tecleandor 3y ago

I guess it's because the suers are US nationals. Also, I think he has businesses in the US, of course he has business interests and residences in the US, and has been sued at least once in Nevada. I don't think the nationality of the exchange is important here, as they're going against CR, and not the exchange, AFAIK.