there are tokens that are securities and tokens that aren't
by default I assume that SEC will take those that are (at least for issuances) and CFTC those that aren't (at least for futures), but I'm flexible
in the end I want federal oversight of crypto one way or another
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Once that happens the crypto market will be the same as the traditional market. Not fun
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Per the recent meeting between the SEC and and per his statement there is Bitcoin which is not a security and “sound money.” Then there is everything else which are all securities. Including the “ Shitcoin FTX launched in Africa.”
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The notion that everything else is a security, while bitcoin is exempt, is preposterous. The proponents of that nonsense are usually trying to pump their bitcoin bags.
At the very least one would think forks of bitcoin with the exact same characteristics would also be exempt.
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Strange that with $LCX a Token get named security which did everything to don’t get classified and is highly regulated. It’s the most regulated crypto ecosystem in the world. 8 licenses of the Liechtenstein Blockchain law. Strange.. then every Token is a security.
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SEC has filed a lawsuit against an ex Coinbase employee and two other named individuals in relation to insider trading.
The person was in charge of listings and shared confidential information with the two other individuals who then did trades and bought these tokens.
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