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A comment on “But the SEC let us go public” and other flawed arguments in Coinbase's defense. Parent comment

Re:“But the SEC let us go public” and other flawed arguments... by everfree on Tuesday June 13, 2023 @01:41AM (#36305938)
> Either way, it's not the job of the SEC (Securities regulator) to decide coinbase gets a free pass to ignore securities regulation in this case because the existing regulations make their business model impossible.

I guess that's the job of congress, then. I think the SEC Stabilization Act is an excellent start. There's nothing unreasonable about wanting to broker securities on a public ledger.

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Re:“But the SEC let us go public” and other flawed arguments... by seanhunter on Tuesday June 13, 2023 @01:58AM (#36306075)
Well in the normal, boring old securities world broker/dealers don't also get to operate exchanges and offer securities to unqualified investors.

I don't think it's the "public ledger" part of this that causes the regulatory issue frankly.

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Re:“But the SEC let us go public” and other flawed arguments... by everfree on Tuesday June 13, 2023 @02:23AM (#36306268)
> I don't think it's the "public ledger" part of this that causes the regulatory issue frankly.

Myself I think that's precisely the issue the SEC is hung up on, but we could argue endlessly about what is probably causing the regulatory issue with the SEC and what they are probably okay and probably not okay with. Meanwhile, the UK just laid out a clear framework for crypto securities exchange in their new bill, which gives an unambiguous regulatory green light to any companies who want to relocate there.

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