[2019-05-20] Poloniex delists 9 cryptos for U.S. traders, they may be securities

[estenity]

@figmentofmyass. You make it appear practicing law is a scam hehehe. Maybe the law was designed by people to scam other people. All full of loopholes and traps if you know what you are doing.

hello! you signalled that they are now in bermuda.

https://cryptoslate.com/circle-poloniex-us-bermuda-regulatory-uncertainty/

is it effective ?

[rodel caling]

That is not a problem with Poloniex. People are talking like that they have made a mistake or something. They are only following the us law. Probably all the others exchanges that operate in Us will have to make the same. Bittrex has created the international version to scape this rule.

That is right opinion mate, I understand the reaction of the people against poloniex decision to delis 9 coins, the company need to follow the rules of law of the states to protect also their interest and to other customers than government order to stop operating the exchange if not follow the rules of law.

[bbc.reporter]

@figmentofmyass. You make it appear practicing law is a scam hehehe. Maybe the law was designed by people to scam other people. All full of loopholes and traps if you know what you are doing.

hello! you signalled that they are now in bermuda.

https://cryptoslate.com/circle-poloniex-us-bermuda-regulatory-uncertainty/

is it effective ?

I am not so certain. The American government's power sometimes extends from its own borders because of their ability to impose sanctions and violence.

Why are you asking? You want Aeon relisted there hehehe?

[estenity]

@figmentofmyass. You make it appear practicing law is a scam hehehe. Maybe the law was designed by people to scam other people. All full of loopholes and traps if you know what you are doing.

hello! you signalled that they are now in bermuda.

https://cryptoslate.com/circle-poloniex-us-bermuda-regulatory-uncertainty/

is it effective ?

I am not so certain. The American government's power sometimes extends from its own borders because of their ability to impose sanctions and violence.

Why are you asking? You want Aeon relisted there hehehe?

just curious, trying to understand.

[hv_]

Like the SEC chairman said on his interview about a year ago, all ICO coins ARE securities and needs to be regulated as such.

Go down the list in coinmarketcap and mark em

ETH, XRP ,... all such are, no rocket Science.

[1Referee]

Like the SEC chairman said on his interview about a year ago, all ICO coins ARE securities and needs to be regulated as such.

Go down the list in coinmarketcap and mark em

ETH, XRP ,... all such are, no rocket Science.

Ether might be somewhat different with how it had a long POW history up to where we are today.

XRP on the other hand is a classic security token. It would surprise me if the SEC doesn't officially mark it as such, because it behaves exactly like a stock that bounces up or down based on partnerships and new company developments. Funny thing is that after Jay Clayton's (SEC chairman) interview, Brad Garlinghouse (CEO of Ripple) suddenly started to advertise XRP as being more decentralized than Bitcoin, lol.

The only downside to these delistings is that you can say goodbye to fair price discovery and welcome pump and dump schemes to take over.

[squatter]

Like the SEC chairman said on his interview about a year ago, all ICO coins ARE securities and needs to be regulated as such.

Go down the list in coinmarketcap and mark em

ETH, XRP ,... all such are, no rocket Science.

What the SEC chairman said at the time was, "I believe every ICO I’ve seen is a security." It wasn't a blanket statement about the ICO mechanism itself, though he was certainly implying that most ICO tokens are securities.

The SEC clarified last year that ETH is not a security:

William Hinman, director of the division of corporation finance at the SEC, explained at the summit: “Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.”

[hv_]

Like the SEC chairman said on his interview about a year ago, all ICO coins ARE securities and needs to be regulated as such.

Go down the list in coinmarketcap and mark em

ETH, XRP ,... all such are, no rocket Science.

What the SEC chairman said at the time was, "I believe every ICO I’ve seen is a security." It wasn't a blanket statement about the ICO mechanism itself, though he was certainly implying that most ICO tokens are securities.

The SEC clarified last year that ETH is not a security:

William Hinman, director of the division of corporation finance at the SEC, explained at the summit: “Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.”

I only accept that once they ve written down that statement. Given out legal doc like a no action letter. Not having such yet after many ppl tried to imply that eth might not be a security ( it is 100% for sure, easy read from ICO and selling purpose definition)  is a strong hint that still fights from eth foundation are on.

[figmentofmyass]

The SEC clarified last year that ETH is not a security:

William Hinman, director of the division of corporation finance at the SEC, explained at the summit: “Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.”

I only accept that once they ve written down that statement. Given out legal doc like a no action letter. Not having such yet after many ppl tried to imply that eth might not be a security ( it is 100% for sure, easy read from ICO and selling purpose definition)  is a strong hint that still fights from eth foundation are on.

requiring a no-action letter as proof makes no sense. the SEC would only write a no-action letter if it were requested by the ethereum foundation. https://www.sec.gov/fast-answers/answersnoactionhtm.html

regulators in the USA don't like to make it easy. the SEC is unlikely to state in a formal document that ether is not a security. the fact that they've publicly stated it's not a security and haven't come after the ETH foundation is pretty strong indication of their position though.

personally, i don't see how ethereum fits #2 and #4 of the howey test. but maybe you can enlighten us.

[hv_]

The SEC clarified last year that ETH is not a security:

William Hinman, director of the division of corporation finance at the SEC, explained at the summit: “Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.”

I only accept that once they ve written down that statement. Given out legal doc like a no action letter. Not having such yet after many ppl tried to imply that eth might not be a security ( it is 100% for sure, easy read from ICO and selling purpose definition)  is a strong hint that still fights from eth foundation are on.

requiring a no-action letter as proof makes no sense. the SEC would only write a no-action letter if it were requested by the ethereum foundation. https://www.sec.gov/fast-answers/answersnoactionhtm.html

regulators in the USA don't like to make it easy. the SEC is unlikely to state in a formal document that ether is not a security. the fact that they've publicly stated it's not a security and haven't come after the ETH foundation is pretty strong indication of their position though.

personally, i don't see how ethereum fits #2 and #4 of the howey test. but maybe you can enlighten us.

Nope. The tactics is simple. They ll wait and what business will earn a bounty for them and charge it later . So no big bank with decent risk dept will pick eth for trading. It is a dad cat.

Any bigger move to change protocol by some central dev is the security proof btw

[bbc.reporter]

I forgot the website, however I remember there was an article written there that some ICOs are not applicable under the Howey test because the tokens are the product in those platforms.