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A comment on SEC Sues Binance and CEO Zhao for Breaking US Securities Rules. Parent comment

Re:SEC Sues Binance and CEO Zhao for Breaking US Securities ... by jdasdf on Monday June 05, 2023 @02:14PM (#36200551)
Let's see what else is a security, how about going to a restaurant to have dinner with friends?

>It is an investment of money.

Yes, you put in cash.

>The investment is in a common enterprise.

You're splitting the wine bottle between the two of you.

>There is an expectation of profits from the investment.

Having a good time at the restaurant is one. No reason profits can't be something other than cash.

>Any profit comes from the efforts of a promoter or third party.

Like the chef who cooked the food!

Great, so now going to dinner with a friend is a security andd is subject to SEC regulations. That makes sense.

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Re:SEC Sues Binance and CEO Zhao for Breaking US Securities ... by srejk on Monday June 05, 2023 @02:20PM (#36200656)
Words have definitions. Investment and profit, for two. You can't just handwave that away. Your conclusion is "anything could be anything" which is utterly devoid of any meaning.
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Re:SEC Sues Binance and CEO Zhao for Breaking US Securities ... by johngladtj on Monday June 05, 2023 @06:47PM (#36205246)
Define them then, in a way that is consistent with every other law that makes use of those terms.

Do you not get taxed on your income if your paycheck is paid in bars of gold?

Would you not call purchasing something to enjoy a return from it's ownership as an investment? Whether it is a consumable, or it produces something that isn't cash?

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Re:SEC Sues Binance and CEO Zhao for Breaking US Securities ... by tick_tock_tick on Monday June 05, 2023 @02:43PM (#36201052)
> No reason profits can't be something other than cash.

Other then the legal definition.....

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Re:SEC Sues Binance and CEO Zhao for Breaking US Securities ... by johngladtj on Monday June 05, 2023 @06:44PM (#36205194)
Most tax laws don't make such a distinction. Whether you're receiving cash, or some other asset you're taxed on that as income.
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Re:SEC Sues Binance and CEO Zhao for Breaking US Securities ... by imtringued on Monday June 05, 2023 @06:39PM (#36205132)
A dinner is a classic example of consumer spending...

The only way this could be considered an investment is if you bought a crate of wine bottles at a bulk discount and sold the left over wine bottles to third parties and used the proceeds to pay for the dinner.

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