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A comment on Washington Needs a Crypto Rethink. Parent comment

Re:Washington Needs a Crypto Rethink by Animats on Friday December 23, 2022 @02:23PM (#34109648)
The SEC won a case last year which pretty much answered the question "is it a security" as "Yes" for just about everything where the promoter can make money off of it.

An investment contract exists if there is an "investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others." - US vs Howey.

The "oh, but crypto is different" argument doesn't fly any more. Not since FTX.

You can still watch "Don't be like Larry", FTX's Super Bowl ad.[1]

[1] https://www.youtube.com/watch?v=3fWQob8RZj4

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Re:Washington Needs a Crypto Rethink by vgatherps on Thursday January 05, 2023 @10:48PM (#34270725)
Oh interesting, I didn't know about that. I thought the XRP case was still ongoing so didn't realise there had been change.

Wasn't trying to make value judgements on whether anything is a security, just was wondering if it's how US crypto exchanges could operate in this weird legal grey zone

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