SEC Sues Coinbase Over Exchange and Staking Programs - Slashdot
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SEC Sues Coinbase Over Exchange and Staking Programs
SEC Sues Coinbase Over Exchange and Staking Programs (cnbc.com) 22
Posted by msmash
on Tuesday June 06, 2023 @10:00AM from the how-about-that dept.Do you have a GitHub project? Now you can sync your releases automatically with SourceForge and take advantage of both platforms. Do you have a GitHub project? Now you can automatically sync your releases to SourceForge & take advantage of both platforms. The GitHub Import Tool allows you to quickly & easily import your GitHub project repos, releases, issues, & wiki to SourceForge with a few clicks. Then your future releases will be synced to SourceForge automatically. Your project will reach over 35 million more people per month and you’ll get detailed download statistics. Sync Now
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ii. Zhao and Binance Developed a Plan to Evade U.S. Legal Scrutiny While Continuing to Profit from U.S. Investors.
110. Zhao and Binance understood that they were operating the Binance.com Platformin violation of numerous U.S. laws, including the federal securities laws, and that these ongoingviolations presented existential risks to their business.
111. As Binance’s CCO bluntly admitted to another Binance compliance officer inDecember 2018, “we are operating as a fking unlicensed securities excha
This is the SEC's press release. [sec.gov]
So... 4 years.
Yea, I see it was a multi-state task force the bottom, and all that shit takes time to coordinate. But, how but some injunctions? The SEC is so slow to act, and on so little, that for the most part fraud goes unchecked - especially until it's far too late for the people scammed.
There were organizations trying to get this shit added to 401Ks, FFS.
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Read the Coinbase v. SEC lawsuit to answer half your question.
That SPOX is lying. SEC refused rulemaking clarity and wants to use/Chevron/ to implement ex-post facto law through administrative rulemaking.
The Maine fisheries case at SCOTUS might settle this for good. The waterways case unanimously restricted such power so that's the other half of 'why-now'.
The Legislature may make laws about this if it so choses and they're consistent with the relevant Constitutions.
None of us should want unelected bureaucr
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these are run of the mill unregistered securities running ponzi schemes. It's exactly what those "unelected bureaucrats" are there for. Do you back the blue? That's all this is. Law enforcement.
One man's bureaucrat is another man's police officer. Folks seem to get upset when they hear an IRS agent might have a gun, but personally I don't want actual cops to enforce these laws. There's no need. But I *do* want the laws enforced. And that means somebody has to do it. Calling them "bureaucrats" is just a-
I actually bought a Sig Sauer P229 "law enforcement edition" from an ex-Treasury agent that has the "for law enforcement only" stamp in the bottom of the 13-round magazines because it was produced during the assault weapons ban. Only time it was used: re-qualification on the range, then immediately cleaned.
I'm fine with them carrying guns, if someone is going to act like an asshole and threaten them with harm for just doing their job as a civil servant.
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>Read the Coinbase v. SEC lawsuit to answer half your question.
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>That SPOX is lying. SEC refused rulemaking clarity and wants to use/Chevron/ to implement ex-post facto law through administrative rulemaking.This.
Coinbase : Tell us what the rules are!
SEC : No
SEC : We are suing you for breaking the rules that we refused to describe to you.-
Coinbase: Hey SEC can we sell these things that look a lot like securities?
SEC: We will not comment.
Coinbase: Ok, were going to do this thing that might be illegal and send us to jail because this will make us a lot of money WHeeeeee!
SEC: We're going to send you to jail.
Coinbase: but you didn't tell us the the thing we thought might be illegal was illegal and we did it anyways because it made us lots of money.-
I don't have the time to read the whole thing, but the SEC cannot decide what kind of business you are running, if what you say accurately depicts what happened. A business must have good lawyers who identify the regulations that apply to the transactions the company is performing. Lack of comment from the SEC does not absolve the business from its responsibilities. This is an awful lot like the Trump "charity" in New York. When Trump blurted that he accepts money from others, the organization was immediate
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This is the way.
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There's two factions.
First, there's the guys trying to protect "innovation". If you're being realistic they were seeing if they and their buddies on Wall Street could profit from it and they decided they couldn't.
These guy were called out a few times about not regulating and that's what they said.
Second, there's the guys who wanted to go after these crooks. But without everybody on their side they needed iron clad cases. So what they did was go after small fish who couldn't buy off Senators first, -
4 years is quick for this kind of thing, really. Consider:
A. there is no direct precedent for any of this
B. government is usually incredibly slow to react to technological changes in the best of scenarios
C. there was questionable appetite for the SEC to go after any of these guys for the first 2 years due to who was sitting in the White House, and SEC higher-ups are gonna look out for themselves before they look out for investors.
D. lawyers take their time with anything that is not a slam dunk, as they don
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