We must fight back SEC, from Ripple to Coinbase

[dzungmobile]

From this U.S. SEC threatens to sue Coinbase over some crypto products in late of March 2023, to Coinbase sues SEC after months of silence from federal regulator just about one month later.

I don't know what you thought one month ago and what you are thinking right now. I believe that the USA. won't let cryptocurrency companies to move out of their country easily and because of SEC. The latest hearing in the USA. Congress is a signal that they don't want it to happen and want to force SEC to do the right things for the nation, their citizens and to control SEC power (less than overwhelming usage of SEC chair Gensler).

SEC can not arbitrarily calls any altcoin as a security and sues them. If they don't apply Howey test, they can not sue any altcoin project arbitrarily and unreasonably. South Korea disagree with this style too, but of course according to South Korea laws and regulations.

South Korean Court Says Terra Classic (LUNC) Not a Security

Please share your opinion.

[Poker Player]

It doesn't seem to me that in the US and EU regulations are going to favor the cryptocurrency space very much. Surely this is influenced by the recent fiasco of FTX and others, which have prompted the authorities to regulations that are more focused on control than on favoring a favorable environment for business to flourish.

Regarding the specific case, although I like Coinbase, I do like the counterattack against the SEC, although I don't know to what extent it could be counterproductive. This business of ending up in court, one suing the other does not seem to me that it will result in much productivity, which could be achieved if they would devote their efforts to collaborate.

[davis196]

I believe that the USA. won't let cryptocurrency companies to move out of their country easily and because of SEC.

I don't have any information about Coinbase wanting to leave the USA. Can you elaborate more on those rumors?
The Security and Exchange Commission must fight all the centralized crypto scams and punish any shady and sketchy practices that are being conducted by some of the big crypto companies. While doing this, the SEC must not destroy the entire cryptocurrency industry in the USA.
Coinbase can sue the SEC if they want. I guess that they can hire a good team of lawyers and they have gathered enough evidence to prove their claims in court. Otherwise deciding to sue the SEC would be a massive mistake.

[mk4]

Like or hate (sometimes deservedly so) Coinbase or centralized exchanges in general, but this is one of those instances where I'll root for them. Not necessarily because I like Coinbase, but mostly because fuck the SEC.

[FahriZah]

I Know About Ripple Issue From Long Time Ago Because Ripple Is Not New Topic In Case And Ripple Problems Is Very Old One Problems I Hope Ripple Issue Now Not Solving Possible At The Moments.

[moneystery]

The SEC seems to be more worried about crypto platforms operating in its jurisdiction since the FTX case which was quite shocking some time ago. That's not surprising given that the SEC is responsible for Americans investing in crypto and there's nothing wrong with that. But it's getting ridiculous, they seem to be trying to disrupt the adoption of cryptocurrency and try to regulate it. They think that they are a superior institution that can regulate the circulation of cryptocurrencies and that is very sickening. They call themselves a democracy, but they restrict their citizens from adopting the payment system that is best for them, even manipulating that crypto is not good for them. Very annoying

[EarnOnVictor]

Let the court interpret this jurisdiction of a thing before you conclude, this is not the first time SEC is suing a company and vice versa. I will only advise that we should sit back and relax as things unfold. Frankly, the overbearing nature of the US regulators is much, they were the reason why Ripple was delisted by Coinbase in 2021, and a lot of issues have risen afterwards which ties the hands of crypto companies in the country.

They are following the path of traditional market trading, which later backfires as most of the trading companies that started in the US moved elsewhere at the time regulators started their unfavourable dramas almost 2 decades ago. They are safeguarding the same occurrence now, but still with unfavourable conditions.

[SamReomo]

The decision of SEC regarding suing Coinbase doesn't makes sense in this advanced world. Like any other crypto exchange Coinbase also added some crypto products for the traders, and that doesn't make them wrong because as an exchange they will have to take such steps in order to survive in the competitive market.

I'm sure that after the collapse of FTX exchange, US government is kind of against all cryptocurrencies as well as crypto exchanges. I may be wrong, but from recent news things are shady in that space. They're directly attacking exchanges one by one, by propagating claims against the exchanges without providing proper proofs.

The counterattack by Coinbase makes sense because why should they get scared of such warnings or threats if they are clean, and the products they are offering on their exchange are safe and doesn't involve any criminal or illegal activity. They aren't manipulating anything or any crypto products not even other exchanges, but this time crypto world has to face this disaster together.

SEC has some internal fears regarding rise of Crypto-currencies and they will take every action against the centralized exchanges if the fear continues. They want complete regulation this time, and they want all the exchanges to work under them. If things continue like this than unfortunately many exchanges will stop their services in US.

[siniminomorocomunisakito]

Like or hate (sometimes deservedly so) Coinbase or centralized exchanges in general, but this is one of those instances where I'll root for them. Not necessarily because I like Coinbase, but mostly because fuck the SEC.

I think that cheering blindly for one side or the other might not yield the best results for all parties involved. Yes, we are frustrated with regulatory bodies like the SEC but their role is to protect investors and maintain fairness in the market as well although some argue that the actions of the SEC stifle innovation in the crypto space.

[Yogee]

Like or hate (sometimes deservedly so) Coinbase or centralized exchanges in general, but this is one of those instances where I'll root for them. Not necessarily because I like Coinbase, but mostly because fuck the SEC.

I think that cheering blindly for one side or the other might not yield the best results for all parties involved. Yes, we are frustrated with regulatory bodies like the SEC but their role is to protect investors and maintain fairness in the market as well although some argue that the actions of the SEC stifle innovation in the crypto space.

The problem is that people from SEC seem confused and contradicting themselves so how would anyone expect that they can protect any investor? I may not be a lawyer or some expert in the field but anyone paying attention can probably notice their changing stance on crypto.

I'm interested in the development of the case filed by Coinbase. Maybe that will force them to write a clear rule that can be applied to all centralized crypto platforms within their jurisdiction and hopefully cryptocurrencies as well.

[Flexystar]

What SEC can do if any business wants to move out of the country? They can easily do so by closing all their allegations in the court. For example, right now Binance has SEC watch about VGX token listing which seems to be security as per the SEC and thus allegation is on the binance for its listing. Though they have broken the deal with founding company it’s still gonna take some time for SEC and authorities to let go Binance. Anyways, this is just one example but there could be hundreds of tokens or coins like that which Binance will has to let go from their USA domain and get rid of offices in the country.

It’s but obvious that every country has their own legislation and way of work around a matter. It would be interesting to see how US work with these crypto companies and what would be “let them go” policy in the near future.

[blockman]

It's like SEC is passing onto another target just after Ripple and this looks like going to be a trend on them that they'll keep on targeting crypto services and companies that don't pass to what they call, a standard for crypto.

I believe that the USA. won't let cryptocurrency companies to move out of their country easily and because of SEC.

Especially on these times that they need more budget for all of their support and operations globally related to politics. They wouldn't just allow that to quickly happen. I just wish that most crypto companies even the centralized exchanges find a true hub for crypto and a country that's friendly to them.

[mk4]

I think that cheering blindly for one side or the other might not yield the best results for all parties involved. Yes, we are frustrated with regulatory bodies like the SEC but their role is to protect investors and maintain fairness in the market as well although some argue that the actions of the SEC stifle innovation in the crypto space.

It's not even 'arguable', it's a damn well-known fact for a while now that the SEC is doing a dogshit job of actually protecting people — assuming protecting people was their intention in the first place.

[cryptomaniac_xxx]

I believe that the USA. won't let cryptocurrency companies to move out of their country easily and because of SEC.

I don't have any information about Coinbase wanting to leave the USA. Can you elaborate more on those rumors?

Recently, Coinbase acquire a Bermuda License,

LONDON, April 20 (Reuters) - Major U.S. crypto exchange Coinbase Global Inc (COIN.O) has said it has secured a licence to operate in Bermuda, as part of a wider push to expand globally.

Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in "offshore" havens unless the U.S. and UK create "clarity about regulation" for crypto.

https://www.reuters.com/technology/us-crypto-exchange-coinbase-secures-bermuda-licence-2023-04-20/

And this could be a sign that they might leave US because of crypto regulatory uncertainly and it seems the SEC is really targeting exchange now.

The Security and Exchange Commission must fight all the centralized crypto scams and punish any shady and sketchy practices that are being conducted by some of the big crypto companies. While doing this, the SEC must not destroy the entire cryptocurrency industry in the USA.
Coinbase can sue the SEC if they want. I guess that they can hire a good team of lawyers and they have gathered enough evidence to prove their claims in court. Otherwise deciding to sue the SEC would be a massive mistake.

The point maybe of Coinbase is for SEC to give a clear rule, even Gary Gensler answer on the Front of House Financial Services Committee a week ago is not very clear. When he was grilled about ETH, he can't even answer the questions whether it was a security or commodity.

[coolcoinz]

It's not even 'arguable', it's a damn well-known fact for a while now that the SEC is doing a dogshit job of actually protecting people — assuming protecting people was their intention in the first place.

The SEC is a corrupt organization that aims to achieve its own goals, mostly working with certain US senators like Elizabeth Warren.

They don't want to protect people. It's just a convenient way of explaining their actions, but the situation with SBF clearly shows they did not have the people's best interest in mind.

[DoublerHunter]

It's not even 'arguable', it's a damn well-known fact for a while now that the SEC is doing a dogshit job of actually protecting people — assuming protecting people was their intention in the first place.

The SEC is a corrupt organization that aims to achieve its own goals, mostly working with certain US senators like Elizabeth Warren.

They don't want to protect people. It's just a convenient way of explaining their actions, but the situation with SBF clearly shows they did not have the people's best interest in mind.

^ Probably and the most agency that has prone to corruption are government agencies.
But for me, if Coinbase passes all SEC requirements, then they are good. Remember that the SEC also works to prevent fraudulent and manipulative practices in the securities markets and takes enforcement actions against individuals and companies that engage in such practices. It also considers the SEC regulates securities brokers, dealers, and investment advisers to ensure that they are acting in the best interests of their clients. I am not in favor of them but I think this seems good to us that there is someone agency regulating centralized exchange to avoid abusing their clients.

[Hamza2424]

If Coinbase takes the stand further i think then the SEC chairperson is going to be in trouble I was wondering why SEC is behaving like this their primary mission was to establish the framework for the crypto industry. I am not at all standing with the XRP but on the matter of Coinbase, I think they are gonna put huge pressure on SEC now because this is a fact that the past years' SEC policies are non Justifiable they need to rectify their policies now.

[darkv0rt3x]

Who needs CEX's when you have alternatives? P2P should be bitcoiner's focus. There is Peach where you can buy Bitcoin P2P. Peach is an app. People should try it a leave the crap of CEx to die. I think Bisq is also used to buy bitcoin p2p, meaning that youc an buy bitcoin from other people without any 3rdd parties such as CEX suckers!

[rdbase]

From this U.S. SEC threatens to sue Coinbase over some crypto products in late of March 2023, to Coinbase sues SEC after months of silence from federal regulator just about one month later.

I don't know what you thought one month ago and what you are thinking right now. I believe that the USA. won't let cryptocurrency companies to move out of their country easily and because of SEC. The latest hearing in the USA. Congress is a signal that they don't want it to happen and want to force SEC to do the right things for the nation, their citizens and to control SEC power (less than overwhelming usage of SEC chair Gensler).

SEC can not arbitrarily calls any altcoin as a security and sues them. If they don't apply Howey test, they can not sue any altcoin project arbitrarily and unreasonably. South Korea disagree with this style too, but of course according to South Korea laws and regulations.

South Korean Court Says Terra Classic (LUNC) Not a Security

Please share your opinion.

Isn't it very strange what he said during his lesson teaching about cryptocurrencies back when he was a professor and now. Times have changed:

https://twitter.com/WayneVaughan/status/1650951646472466439

This can go against him in any future cases being at the helm of the SEC and anything to do with the definition of what is a security and what isn't, while he is making the rules of regulations to do with cryptocurrencies.

[omoniy1]

The SEC has been growing its regulatory scrutiny at the cryptocurrency enterprise in current years, and this has led to numerous criminal battles, along with the only among the SEC and Ripple Labs, the creators of XRP. To combat again towards the SEC, corporations withinside the cryptocurrency enterprise like Ripple and Coinbase, have to have extraordinary techniques like searching for regulatory readability, Some corporations withinside the enterprise are lobbying regulators and lawmakers to set up clean policies and policies for cryptocurrencies. This ought to assist save criminal battles withinside the destiny with the aid of using presenting greater readability on what's and is not allowed. Many corporations withinside the enterprise also are targeted on instructing the general public approximately cryptocurrencies and blockchain technology. This ought to assist construct guide for the enterprise and make regulators greater cushty with it.
There isn't any one-size-fits-all method to preventing again towards the SEC. Companies withinside the cryptocurrency enterprise want to evaluate their very own conditions and pick the method that is first-rate for them.

[posi]

I believe that the USA. won't let cryptocurrency companies to move out of their country easily and because of SEC.

I don't have any information about Coinbase wanting to leave the USA. Can you elaborate more on those rumors?
The Security and Exchange Commission must fight all the centralized crypto scams and punish any shady and sketchy practices that are being conducted by some of the big crypto companies. While doing this, the SEC must not destroy the entire cryptocurrency industry in the USA.
Coinbase can sue the SEC if they want. I guess that they can hire a good team of lawyers and they have gathered enough evidence to prove their claims in court. Otherwise deciding to sue the SEC would be a massive mistake.

It's all just rumors, and they say that if the US continues to pressure and embarrass them, they will move to another country with friendlier laws.
Binance has also made this point, but it's all just a rumor.

In my opinion, the SEC is looking for a way to blame crypto and then legally control the market instead of destroying it completely. Destroying the market is not in their favor, they have seen the benefit of the market, and they do not want it to fall into the hands of another regulator like the CFTC. As far as I know, both are vying for control of the cryptocurrency market.

[goldkingcoiner]

From this U.S. SEC threatens to sue Coinbase over some crypto products in late of March 2023, to Coinbase sues SEC after months of silence from federal regulator just about one month later.

I don't know what you thought one month ago and what you are thinking right now. I believe that the USA. won't let cryptocurrency companies to move out of their country easily and because of SEC. The latest hearing in the USA. Congress is a signal that they don't want it to happen and want to force SEC to do the right things for the nation, their citizens and to control SEC power (less than overwhelming usage of SEC chair Gensler).

SEC can not arbitrarily calls any altcoin as a security and sues them. If they don't apply Howey test, they can not sue any altcoin project arbitrarily and unreasonably. South Korea disagree with this style too, but of course according to South Korea laws and regulations.

South Korean Court Says Terra Classic (LUNC) Not a Security

Please share your opinion.

The SEC cannot stop Bitcoin so I do not really care about the regulation theater they are trying to impress the feeble-minded with. I certainly am not going to defend the Terra scam or its scammer CEO and I am definitely not going to defend the business operations of any centralized exchanges. Bitcoin has defeated any and every regulator. Unless every country in the world chose to become dictatorships which collectively outlaw the entire internet, there will always be ways to mine Bitcoin. And I am sure there will always be ways to buy Bitcoin, no matter how many obstacles the government wishes to put in our way.

Bitcoin is freedom. Bitcoin is unstoppable rebellion.

[kaseygriffin]

IMO, the SEC has used its power to make one-sided decisions and influence the rise of the crypto market and the rapidly growing industry globally. The SEC lawsuit against Ripple was controversial when the SEC required Ripple to register XRP, a cryptocurrency that Ripple claims is not a security but a regular cryptocurrency.

This is a complex and controversial issue in the crypto community. First, however, we need to be clear that the SEC has a responsibility to protect investors and the market from illegal practices in accessing and using crypto. It is important that legal regulations apply to every company and individual operating in the crypto market. Consumers and investors need to be protected from scams and hidden risks that exist in this market.

[avikz]

If Coinbase thinks that filing a case against SEC in US will give them any relief, they are living in fool's paradise. SEC is a part of the government and not an accidental outsider agency. I am sure Coinbase will find themselves in more dirty water soon.

I strongly believe, it is better for cryptocurrency companies and altcoin providers to move out of US permanently. Because that's exactly what the SEC wants. Move out to Singapore and keep on providing services to the worldwide users without any regulatory hassles.

[bittraffic]

It's ironic that cryptocurrency, which was supposed to be decentralized and outside of government control, is now at the mercy of regulatory agencies like the SEC. It seems like we're moving in the opposite direction of what crypto was originally intended to be.

True. Sue the SEC for not having regulatory clarity which they are supposed to be doing since. That is already a win for Coinbasebecause obviously Gensler is not one to rely on for such a job.

Coinbaase moving to the EU is not a problem. Armstrong or any other CEO of a crypto company to just keep waiting while the company is grabbed by the neck, they can move to EU or any other country that is crypto-friendly. Heck, why not Hongkong.

[FUCKBSVFUCK]

I think that the SEC can go as far as using Bitcoin, which is the original legal tender in the USA. I also saw that on some exchanges, they had regulations and the courts were really strict. 
 
And the fact that they can legally regulate altcoins that is why they can move bitcoin out of their country. So, if it's for legal purposes, it's better that they move it because this is where there will be regulations in the future, but how they can get regulation is completely different.