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A comment on US SEC sues Coinbase, one day after suing Binance. Parent comment

Re:US SEC sues Coinbase, one day after suing Binance by paulddraper on Tuesday June 06, 2023 @06:06PM (#36219702)
Excise taxes are a product-specific sales tax.

For example, on gasoline. The tax occurs at the pump, not at the refinery.

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Re:US SEC sues Coinbase, one day after suing Binance by revbed on Wednesday June 07, 2023 @09:10AM (#36226344)
No, that's exactly wrong https://en.wikipedia.org/wiki/Excise.

"An excise, or excise tax, is any duty on manufactured goods that is normally levied at the moment of manufacture for internal consumption rather than at sale."

I'm very familiar with how the excise tax on alcohol works, it's definitely a tax on creation not consumption.

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