Re:US SEC sues Coinbase, one day after suing Binance
by nradov on Tuesday June 06, 2023 @12:54PM
(#36215722)
In general if you're thinking of doing something in a gray area of federal law or regulations then you can write a formal letter to the competent regulatory agency and request an opinion. But you have to be extremely specific and pose your questions in ways that can be answered with a clear yes or no; you can't expect a useful response to a vague request for clarifications or definitions. If the agency does give you a letter containing a positive opinion then it serves as a nearly ironclad defense against any civil enforcement actions or criminal prosecution. Those opinions can change later for political reasons, but you won't be punished retroactively for actions prior to the change.
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Re:US SEC sues Coinbase, one day after suing Binance
by sroussey on Tuesday June 06, 2023 @01:36PM
(#36216322)
FundersClub did this for creating a portal to invest in startups.
Re:US SEC sues Coinbase, one day after suing Binance
by nradov on Tuesday June 06, 2023 @02:08PM
(#36216800)
Right, good example. You can read the SEC letter here. As long as you ask the right questions you can get useful answers and protect your business.
https://www.sec.gov/divisions/marketreg/mr-noaction/2013/fun...
Re:US SEC sues Coinbase, one day after suing Binance
by whimsicalism on Tuesday June 06, 2023 @01:10PM
(#36215973)
Yes, see for instance prediction markets in the US.