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A comment on We asked the SEC for reasonable crypto rules. We got legal threats instead. Parent comment

Re:We asked the SEC for reasonable crypto rules. We got lega... by simple-thoughts on Thursday March 23, 2023 @12:01AM (#35270393)
False. If your local governing agency (whether private or public) fails to maintain the local parks, schools, and roads, the value of your house will fall. Houses are securities according to the Howey test.
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Re:We asked the SEC for reasonable crypto rules. We got lega... by Godel_unicode on Thursday March 23, 2023 @01:30AM (#35270827)
No they aren’t.

“The respondent companies are offering something more than fee simple interests in land…they are offering an opportunity to contribute money and to share in the profits of a large citrus fruit enterprise.”

https://recaldelaw.com/do-security-regulations-cover-real-es...

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Re:We asked the SEC for reasonable crypto rules. We got lega... by simple-thoughts on Thursday March 23, 2023 @06:47AM (#35272692)
Yes, the courts don’t support the SEC interpretation of the Howey test, and the SEC has repeatedly lost in court. Your point is?
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Re:We asked the SEC for reasonable crypto rules. We got lega... by Godel_unicode on Thursday March 23, 2023 @09:34AM (#35274549)
My point was 3 words. Which one do you not understand?
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Re:We asked the SEC for reasonable crypto rules. We got lega... by simple-thoughts on Thursday March 23, 2023 @10:33AM (#35275439)
Something can both pass the Howey test and be considered a security by the SEC, but simultaneously fail to be a security in court.
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Re:We asked the SEC for reasonable crypto rules. We got lega... by Godel_unicode on Thursday March 23, 2023 @01:46PM (#35278531)
By not passing the Howey test. Which they don’t, according to the only people whose opinion matters.

The SEC doesn’t get a vote.

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Re:We asked the SEC for reasonable crypto rules. We got lega... by simple-thoughts on Friday March 24, 2023 @10:03PM (#35298400)
Yes, so the SEC guidance is irrelevant, and is just fear mongering to get people to pay fines they don’t actually need to pay.
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Re:We asked the SEC for reasonable crypto rules. We got lega... by Godel_unicode on Saturday March 25, 2023 @11:16PM (#35310439)
That is correct.
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