Re:Coinbase Sued by SEC for Breaking US Securities Rules
by FireBeyond on Tuesday June 06, 2023 @11:21AM
(#36214219)
> They have desperately been trying to figure out how to register, to the point of suing the SEC to get information, and the SEC has time and time again refused to provide any information about how to do that.
And yet, despite how they spin it in press releases, their _filing_, which is where the rubber meets the road, says nothing about "figuring out how to register", but rather says that "for many tokens, registering is not possible due to effort involved, or not economically viable" (surprise, surprise, Coinbase doesn't want to absorb the cost of registering securities when it comes to the Shitcoin of the day).
In other words, "we know how to register these tokens as securities - but our business model doesn't make it possible to do so profitably".
And yet, despite how they spin it in press releases, their _filing_, which is where the rubber meets the road, says nothing about "figuring out how to register", but rather says that "for many tokens, registering is not possible due to effort involved, or not economically viable" (surprise, surprise, Coinbase doesn't want to absorb the cost of registering securities when it comes to the Shitcoin of the day).
In other words, "we know how to register these tokens as securities - but our business model doesn't make it possible to do so profitably".