SEC asked Coinbase to halt trading for everything except Bitcoin (FT)

Re:SEC asked Coinbase to halt trading for everything except ... by TekMol on Monday July 31, 2023 @06:04AM (#36940544)

No. "trust me that I will do something great with your money and eventually return it to you, I promise" is not part of the deal when you buy a token.

1: Some of the deals are "Someone built this thing which is now out of their control. But this thing can be used with these tokes. Want some?".

2: Some of the deals are "I built this thing which is now out of my control. But this thing can be used with these tokes. Want some?".

3: Some of the deals are "I built this thing which is now kinda out of my control. I might be able to change it later, but only if the community stays behind me. Anyhow, this thing can be used with these tokes. Want some?".

The SEC argues that many tokens fall into category 3 and that 3 is close enough to a security that the SEC should have a say in this.

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Re:SEC asked Coinbase to halt trading for everything except ... by GoblinSlayer on Monday July 31, 2023 @06:31AM (#36940735)

Some nocoiners equate cryptocurrency to tulips, but tulips aren't securities? On the other hand if you want a tulip, you will buy it on amazon, you won't grow it yourself.

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Re:SEC asked Coinbase to halt trading for everything except ... by itsoktocry on Monday July 31, 2023 @06:23AM (#36940669)

These deal descriptions may be the ideal origin, but this is not how 90% of coins are dealt with today. Hard not to assume deliberate deceit from those claiming otherwise.

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