“But the SEC let us go public” and other flawed arguments in Coinbase's defense

Re:“But the SEC let us go public” and other flawed arguments... by JumpCrisscross on Tuesday June 13, 2023 @12:51AM (#36305503)

> Anyone: "Okay then, is [insert ANY crypto here other than BTC] a security?"

The SEC has been super clear for most crypto except Bitcoin and Ether.

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Re:“But the SEC let us go public” and other flawed arguments... by mthoms on Tuesday June 13, 2023 @01:27AM (#36305812)

Really? Where can I learn about which cryptocurrencies constitute securities and which don't? Is there a list?

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Re:“But the SEC let us go public” and other flawed arguments... by JumpCrisscross on Tuesday June 13, 2023 @02:07AM (#36306146)

> Where can I learn about which cryptocurrencies constitute securities and which don't? Is there a list?

Yes. Start with the SEC’s complaint against Coinbase: SOL, ADA, MATIC and ten others [1].

Beyond that, ask a securities lawyer or ask the SEC. Coinbase did. The SEC answered. Coinbase didn’t like the answer, and focussed its messaging on irrelevant statements (or a lack thereof) by Gensler about Bitcoin and Ether. If someone only cash traded those two, they would have a legitimate argument against the SEC’s ambiguity. But practically nobody does: instead they operate unlicensed and illegally-configured securities outfits.

[1] https://www.sec.gov/litigation/complaints/2023/comp-pr2023-1... 114

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