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Gary Gensler called BUSD a security and banned it years go. What a guy!
by m00dy 2y ago
Gary Gensler called BUSD a security and banned it years go. What a guy!
- Saline9515 2y ago[flagged]
- jvanderbot 2y agoYes we definitely should have left all the sector unregulated or else how would we make a profit?
- Saline9515 2y agoI never said that it should be unregulated, just that the sanction applied to BUSD had a political motive. Of course stablecoins are not securities, just like a 20$ note isn't a security.
- jvanderbot 2y agoThe analogy to cash feels a bit strained. There's a difference in backing, don't you think?
- Saline9515 2y agoI was referring to the Howey test, that is used to determine if an asset is a security: https://www.findlaw.com/consumer/securities-law/what-is-the-howey-test.html https://www.findlaw.com/consumer/securities-law/what-is-the-...
- desumeku 2y agoThey didn't regulate the crypto industry. They told everyone to stop and then refused to provide regulations or guidance on acceptable behavior despite continual begging by coinbase et al. to be allowed to cooperate.