The SEC has told us it wants to sue us over Lend. We don’t know why

Re:The SEC has told us it wants to sue us over Lend. We don’... by arcticbull on Wednesday September 08, 2021 @02:30AM (#28453774)

> Or you know the SEC is allowed to announce /why/ they are prosecuting.

They are, but they don't have to since the law is spelled out.

> And why they are prosecuting a particular alleged transgressor first as opposed to some other having not done so until now.

Gotta start somewhere, and the fact someone else is breaking the law isn't a defense. If it was any two people doing the same crime couldn't ever be charged right? haha.

> I haven't got a written determination that I'm not infringing basically any law that I'm aware of and I do _NOT_ expect to be prosecuted for anything either.

Totally, but the Howey test has been the law of the land for what 70 years? It's prettttty obvious that this is in fact a security. The SEC agrees. Coinbase does not. Ergo, it's up to the judge to decide. This is about as black and white as the rule of law thing gets.

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Re:The SEC has told us it wants to sue us over Lend. We don’... by throwaway2037 on Wednesday September 08, 2021 @03:20AM (#28454118)

I agree 100% with your last paragraph. And, I was surprised by the age of this judgement! Wiki says: Decided May 27, 1946

Ref: https://en.wikipedia.org/wiki/SEC_v._W._J._Howey_Co.

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Re:The SEC has told us it wants to sue us over Lend. We don’... by harry8 on Wednesday September 08, 2021 @06:49AM (#28455349)

Stealth edit on the grandparent of this comment. Why do that? It make me go from the assumption of good faith to the other thing.

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Re:The SEC has told us it wants to sue us over Lend. We don’... by arcticbull on Wednesday September 08, 2021 @12:17PM (#28459277)

Did I change something material? If so my bad, I usually only edit for clarity, and add an edit block if I add something. My bad if so!

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