Cz or the Sec who would you support?

[uneng]

My say on this situation ls that it can be almost equally silly to support both a government which may be trying to suppress the liberty of the citizens and a company which is just trying to do what any other one like to do: generate income.

You can support Binance, because you either feel it is a good service or your ideology leans onto small government and regulation, but never forget that Binance as any platform does not owe you anything beyond the balance you have in their wallets and you do not owe them anything. Their duty as a business is to be a good business, because that serves their interests.

People defending brands as they defend their parents is very strange, in my opinion, so are people who get logo tattooed on their bodies.

If anyone feel like defending so much a company, the minimum I would expect it would be them to be shareholders.

I think it's normal that individuals have different perspectives and reasons to support Binance or other companies because they value the service provided by Binance and Maybe they have been trading on the platform for a long time, regardless of the current case. related The decision to support CZ or the SEC is a complex one and depends on a variety of factors, including personal beliefs, values, and perspectives on government intervention and the business practices that I look at.

I know it is normal to support a party or another one, depending on our personal believes. But I am referring to the kind of people who fanatically defend a company, as if they were shareholders. 

Havent you ever dealt with that kind of people? I have seen people who love Nintendo or Apple enough for them to get permanent tattoes of the logos of those big companies on their bodies.  That is what I am talking about, brand fanboy-ism.

That is why I think we should support Bitcoin and forget about centralized parties (being them governments or private companies), because they always have hidden personal interests that to be achieved people like us, common citizens and crypto enthusiasts, have to be used as disposable tools by the powerful ones on the top of the system, including CZ and US government's agencies.

They are fighting among themselves for their own interests which have nothing to do with us.

[darkangel11]

To be honest, I wouldn't support any of them because the SEC is in fact Gensler, who got screwed by that deal with SBF where they'd meet up and discuss God knows what, andd then SBF would steal money from his clients under Gensler's nose.
CZ is doing insider trading and is ready to list any shitcoin as long as it pays the listing fee. How would you support someone like that?

The important thing here is to realize that bitcoin is not crypto and bitcoin is not  a security. that's all there is to know.

[nurilham]

Do you think Binance doesn't want to control everybody? why did they force their customers to complete KYC verification when they were not?

I think Binance applies KYC verification isn't to control people, but it is about security and validation. Binance wants to ensure that it is a real person and everyone who joins Binance fulfills the Binance requirements. For example, you must know Binance excludes some countries, so people from the excluded countries aren't allowed to join. To know it, Binance must ask for KYC verification.

Even though centralized exchange make people easier to buy Bitcoin and convert to fiat, but if people only know to buy Bitcoin must use a centralized exchange, doesn't know about private key or seed phrase as they only know email and password etc, it will confuse many newbies since they think there's no such be your own bank in Bitcoin.

It is about our choice, if we don't believe CEX, simply use DEX only.
What we must understand is that CEX helps us to develop crypto industry. CEX has contributed to attracting people to join crypto massively. We can't deny this fact, CEX is very helpful and has its own role. Newbies also can learn how to trade crypto coins with the demo account on CEX.

[irsykes]

I am going to support who is right. If the allegations against CZ are true, then no doubt I will support SEC. Then again, we need to find out who is in the wrong. SEC is trying to control people. I agree on that matter. But what about Binance exchange? It is centralized, too. Have you heard about forced liquidation? In exchanges, the owners have the control over price manipulation in order to make liquidation happen on their wish. This is a very nasty thing that they do. And I don't think CZ have never done that. He is not 100% pure.
Also, coming to the point of SEC. They have their own rules and if you want to do certain business in certain places, you need to follow them. The thing you are talking in OP is about people's freedom using cryptocurrency. It comes with decentralization. You can not make that happen when you are using a centralized exchange to do it.
I am not ungrateful for what Binance have done for us. But then again, they are not clean. So I will stay neutral for this matter.

The SEC is trying hard from the XRP case until now has not found a clear answer in terms of the concept that was established. if you've ever heard of FTX, SEC is behind the biggest market. I think CZ is extraordinary in responding to crypto-related cases and the struggle so far has been great. SEC drama may come in another year to come when the current drama is over

[TelolettOm]

To be honest, I wouldn't support any of them because the SEC is in fact Gensler, who got screwed by that deal with SBF where they'd meet up and discuss God knows what, andd then SBF would steal money from his clients under Gensler's nose.

I don't know what the real case is. What the SEC accuses has not been proven to be true. In this matter, I still support Binance because Binance is the best exchange in crypto and it has a big role in crypto world. As a crypto user, I think it is normal if we support Binance as long as the accusation isn't proven as the truth.

CZ is doing insider trading and is ready to list any shitcoin as long as it pays the listing fee. How would you support someone like that?

Binance has standard criteria to list a coin, they don't list any coin carelessly. It is not as easy as listing a coin by paying the funds only. Anyway, shitcoins aren't scam coins, so what's wrong with this? As long as Binance doesn't list scam coins, I think people will have no problem with that.

The important thing here is to realize that bitcoin is not crypto and bitcoin is not  a security. that's all there is to know.

BTC is not crypto?
Is it a non-crypto coin? 
As far as I know, BTC is a part of crypto coins.

[dansus021]

I may agree with you, This can create uncertainty and worry among investors, which can trigger asset selling and depress prices in the short term. But my view is that the long-term impact of any SEC ruling, however, depends on how regulation proceeds and how the market and the crypto community respond to it. There may be efforts to find solutions and partnerships that benefit both parties.

Other thing is that if SEC win I am worrying that the rule with more more countries because a lot of US rule also that been widely using by other country, and if this happen Crypto that supposed to decentralized will become centralized

[TheGreatPython]

The communication between the parties is not clear and the competition is back and forth between the parties, and unfortunately it has a negative impact on the crypto market. I don't support anyone in this situation, but looking at the long-term I think this also needs to appear for the market to be stronger after various crashes. Both the SEC and CZ have their own arguments, from an investor perspective with crypto I can also feel people are afraid that binance might collapse after this event, but for me the optimism with the market This school is more, facing many serious situations in the past, I feel that everything will be better.

Yes you're on point the SEC is the government in disguise trying to control and ruin the crypto ecosystem, many people might think they're doing their job, maybe cause they didn't invest with the said exchanges attacked, but the question is after coinbase or binance, who's next? This question would hit hard when the exchanges they're trading with are being attacked by the SEC as well.

They literally can't have a target bigger than Binance, it is the top cryptocurrency exchange out there and they know how widely it is being used by cryptocurrency traders over the world, and they also understand how much of an impact this case will have on the overall cryptocurrency market since there will a lot of FUD, panic selling, and fear among institutional and retail investors which cause the market to plunge.

Authorities can't see cryptocurrencies take over the traditional financial systems so they can't just let it happen and will try their best to cover up and keep them away from the citizens as much as they can, but eventually, we will see them failing in the long run.

[Synchronice]

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

I don't really care about Sec or Binance, couldn't care less. The problem is that Binance has too much influence over crypto market and I am a person who has financial interest in crypto world while using and appreciating all the benefits that crypto gives to us. So, for that reason, I don't really want the situation to go bad, I prefer stable environment for more crypto growth, so, hope things go well, without much drama and people start to realize that when you are hanged and someone gives you a knife, you should cut rope, not your throat.
What people do in crypto world is that they use cryptocurrencies to transfer influence from one centralized institute to another centralized institute, they don't use it to escape from centralized institutes.

[tygeade]

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

A lot of people here would prefer CZ over SEC without a doubt but you need to remember that a lot of people who are not Americans are here as well, that's an important part of the discussion.

On the other hand, we are also talking about a situation where it is going to be clear who is going to win this, SEC will do whatever it wants to do and nobody will be able to stop them, the ones who could stop them will not so SEC will wall all over Binance in the USA, not that they can do anything to global one, but the USA version will be crushed if SEC wants it to. This is why who we pick doesn't really matter, in the end it all comes down to the fact that they will do whatever they want and that's the only important thing for them.

[MoonOfLife]

I may agree with you, This can create uncertainty and worry among investors, which can trigger asset selling and depress prices in the short term. But my view is that the long-term impact of any SEC ruling, however, depends on how regulation proceeds and how the market and the crypto community respond to it. There may be efforts to find solutions and partnerships that benefit both parties.

Other thing is that if SEC win I am worrying that the rule with more more countries because a lot of US rule also that been widely using by other country, and if this happen Crypto that supposed to decentralized will become centralized

That will certainly happen if the SEC wins. And that's what a lot of decentralization fanatics don't think about, and they think what's going on has nothing to do with them. But once the SEC wins and the government represses harder, our privacy and anonymity will also be at stake. We can only use them in the dark and circumvent the law to use them, and to me, that is a failure.

[MusaMohamed]

A lot of people here would prefer CZ over SEC without a doubt but you need to remember that a lot of people who are not Americans are here as well, that's an important part of the discussion.

On the other hand, we are also talking about a situation where it is going to be clear who is going to win this, SEC will do whatever it wants to do and nobody will be able to stop them, the ones who could stop them will not so SEC will wall all over Binance in the USA, not that they can do anything to global one, but the USA version will be crushed if SEC wants it to. This is why who we pick doesn't really matter, in the end it all comes down to the fact that they will do whatever they want and that's the only important thing for them.

You don't need to be a US. citizen or you don't need to support a US. cryptocurrency company to win their fight against SEC attack and lawsuit. Because either Coinbase or Binance US. win, it will be a win for global cryptocurrency companies against SEC. The whole world looks at SEC. and regulations from the USA. so that I don't want to see either  Coinbase or Binance US. fail in their fight against SEC.

They are fighting against SEC. unofficially on behalf of cryptocurrency industry and you know, results of those lawsuits will stimulate the cryptocurrency communities in either positive or negative ways. Which one is your favorite between negative and positive?

Weeks after the SEC. lawsuit announcement, Binance US. and SEC. have shown some signals that they will come to a middle agreement to handle the lawsuit that means Binance US. will not fail and not be knocked down by SEC.

[armanda90]

They are fighting against SEC. unofficially on behalf of cryptocurrency industry and you know, results of those lawsuits will stimulate the cryptocurrency communities in either positive or negative ways. Which one is your favorite between negative and positive?

Weeks after the SEC. lawsuit announcement, Binance US. and SEC. have shown some signals that they will come to a middle agreement to handle the lawsuit that means Binance US. will not fail and not be knocked down by SEC.

We are fighting against SEC Commission because they have bad reputation for cryptocurrency, I agree with some investigation from SEC Commission but many coins die when SEC investigated and XRP success win against SEC. SEC Commission interfere all business kinds not only about cryptocurrency but also all kinds business depend not profitable for them. As cryptocurrency influencer I don't believe yet with SEC Commission and many kinds of their investigation have bad impact for cryptocurrency.

I hope with all trader change their minds with SEC Commission and never take care what SEC announcement about Bitcoin or cryptocurrency, its our time right now as cryptocurrency holder how to build our trust without SEC Commission and they not give us positive impact although many time investigation with cryptocurrency.

[BALIK]

A lot of people here would prefer CZ over SEC without a doubt but you need to remember that a lot of people who are not Americans are here as well, that's an important part of the discussion.

On the other hand, we are also talking about a situation where it is going to be clear who is going to win this, SEC will do whatever it wants to do and nobody will be able to stop them, the ones who could stop them will not so SEC will wall all over Binance in the USA, not that they can do anything to global one, but the USA version will be crushed if SEC wants it to. This is why who we pick doesn't really matter, in the end it all comes down to the fact that they will do whatever they want and that's the only important thing for them.

You don't need to be a US. citizen or you don't need to support a US. cryptocurrency company to win their fight against SEC attack and lawsuit. Because either Coinbase or Binance US. win, it will be a win for global cryptocurrency companies against SEC. The whole world looks at SEC. and regulations from the USA. so that I don't want to see either  Coinbase or Binance US. fail in their fight against SEC.

They are fighting against SEC. unofficially on behalf of cryptocurrency industry and you know, results of those lawsuits will stimulate the cryptocurrency communities in either positive or negative ways. Which one is your favorite between negative and positive?

Weeks after the SEC. lawsuit announcement, Binance US. and SEC. have shown some signals that they will come to a middle agreement to handle the lawsuit that means Binance US. will not fail and not be knocked down by SEC.

This war is no different from the crypto industry's fight with the government. But many people do not support CZ and Binance because they think the SEC is only against centralized exchanges and shitcoin and has nothing to do with bitcoin. I see a lot of bitcoin maximalists supporting the SEC in the recent crackdown and praying that Binance will fail soon.

Although there is an agreement between the two parties, I believe that the SEC will soon find something new to continue against us, they will not let us go until the ultimate goal is to regulate the market.

[judaspriest]

They are fighting against SEC. unofficially on behalf of cryptocurrency industry and you know, results of those lawsuits will stimulate the cryptocurrency communities in either positive or negative ways. Which one is your favorite between negative and positive?

Weeks after the SEC. lawsuit announcement, Binance US. and SEC. have shown some signals that they will come to a middle agreement to handle the lawsuit that means Binance US. will not fail and not be knocked down by SEC.

We are fighting against SEC Commission because they have bad reputation for cryptocurrency, I agree with some investigation from SEC Commission but many coins die when SEC investigated and XRP success win against SEC. SEC Commission interfere all business kinds not only about cryptocurrency but also all kinds business depend not profitable for them. As cryptocurrency influencer I don't believe yet with SEC Commission and many kinds of their investigation have bad impact for cryptocurrency.

I hope with all trader change their minds with SEC Commission and never take care what SEC announcement about Bitcoin or cryptocurrency, its our time right now as cryptocurrency holder how to build our trust without SEC Commission and they not give us positive impact although many time investigation with cryptocurrency.

With what the SEC does sometimes I think the goal of the SEC is to destroy crypto,
I know it's just my wild thoughts but the investigations carried out by the SEC have had a lot of negative effects on crypto as you said,
Regardless of what it is, we must support the truth.

[coupable]

i still side with cz . if binance does exit crypto then crypto's largest market will be exhausted, and i believe it will affect the crypto community in at least a 30 to 50% drop in crypto volume will be lost. building binance also must have been a long struggle, but if it was that easy the SEC closed it I think financial freedom is indeed more complicated than before.

Binance exiting crypto is a big if to be honest and I don't think that they will easily fold against SEC, also I don't have any firm knowledge about this but isn't Binance an International company? Meaning that they can still operate outside US? I need clarifications on that. You don't need to worry to much about this though, I am sure that they won't be able to shut down Binance.

Everyone imagines that the accusations against Binance could lead to its closure.  All accusations are about its services provided to American citizens, which come in parallel with similar accusations against other platforms such as Coinbase, as well as other platforms that were forced to close as a result. 
Personally, I support these accusations since they are based on a legal basis and also because they impose a tracking and monitoring policy on Binance, which has begun to form a kind of monopol based mainly on the fact that it is not being tracked and no one knows about its internal kitchen.  What is happening with Binance has affected the rest of the platforms, which have begun to take measures commensurate with the laws and procedures on which sec is based to activate procedural traces.

[examplens]

With what the SEC does sometimes I think the goal of the SEC is to destroy crypto,
I know it's just my wild thoughts but the investigations carried out by the SEC have had a lot of negative effects on crypto as you said,

I don't think there is any plan to destroy crypto, these are more attempts to introduce control, in the sense that governments have insight and control over the circulation of value. It is not in the interest of any government that citizens have some money that they have no insight into and cannot be taxed.

On the other side is Binance, which is certainly not the lamb in the whole story, we know from earlier about their various manipulative actions and it is really necessary that their influence be brought under control.
But whether we want to admit it or not, Binance is one of the most important crypto services and its possible disappearance will cause serious shocks, probably the biggest so far.

Therefore, Binance (and any similar service) definitely needs to be under greater control, but it is also needed in the future.

[arwin100]

i still side with cz . if binance does exit crypto then crypto's largest market will be exhausted, and i believe it will affect the crypto community in at least a 30 to 50% drop in crypto volume will be lost. building binance also must have been a long struggle, but if it was that easy the SEC closed it I think financial freedom is indeed more complicated than before.

Binance exiting crypto is a big if to be honest and I don't think that they will easily fold against SEC, also I don't have any firm knowledge about this but isn't Binance an International company? Meaning that they can still operate outside US? I need clarifications on that. You don't need to worry to much about this though, I am sure that they won't be able to shut down Binance.

Everyone imagines that the accusations against Binance could lead to its closure.  All accusations are about its services provided to American citizens, which come in parallel with similar accusations against other platforms such as Coinbase, as well as other platforms that were forced to close as a result. 
Personally, I support these accusations since they are based on a legal basis and also because they impose a tracking and monitoring policy on Binance, which has begun to form a kind of monopol based mainly on the fact that it is not being tracked and no one knows about its internal kitchen.  What is happening with Binance has affected the rest of the platforms, which have begun to take measures commensurate with the laws and procedures on which sec is based to activate procedural traces.

Yeah its good to support what Sec actions done to binance since for sure they and other new crypto businesses will be watchful to the requirements or other things they need to do to comply on legalities on said country and so they can operate without violating the law in US. If we can see the brighter side of the regulation they did this will benefits us since we can assure that we are now dealing with good crypto services by the help of the government tightening its rules to those crypto platforms.

[Joshapat]

The SEC certainly has data and a strong legal team, so if CZ can win the SEC accusation then it will have a stronger reputation, I hope CZ can defeat the SEC accusation because if CZ loses there will be a bigger market shock than FTX.

[FrozenBit]

The SEC certainly has data and a strong legal team, so if CZ can win the SEC accusation then it will have a stronger reputation, I hope CZ can defeat the SEC accusation because if CZ loses there will be a bigger market shock than FTX.

I don't have too much confidence in any of the parties, although both the SEC and CZ are subjects that I don't like them at all in the areas in which they operate, but the actions of the parties recently and in In the current market context, it doesn't make me think of a bigger negative, the issue of BinanceUS has also had bad signals about its performance, but overall here binance is a big player really in this industry and the fact that this piece of market share makes many parties jealous is inevitable. Similar to some previous scandals, I believe that over time everything will be sorted out, and we don't need to be too worried when currently before a lot of big news is appearing in the market.

[o48o]

Do you think Binance doesn't want to control everybody? why did they force their customers to complete KYC verification when they were not?

Even though centralized exchange make people easier to buy Bitcoin and convert to fiat, but if people only know to buy Bitcoin must use a centralized exchange, doesn't know about private key or seed phrase as they only know email and password etc, it will confuse many newbies since they think there's no such be your own bank in Bitcoin.

It doesn't really matter what Binance wants, they are required KYC their customers by law as regulations have gotten tighter on cryptos.

Other thing is that if SEC win I am worrying that the rule with more more countries because a lot of US rule also that been widely using by other country, and if this happen Crypto that supposed to decentralized will become centralized

We should worry about our own equivalence to SEC. EU has ESMA and just released new crypto-assets regulation, China has CSRC and so on...

The important thing here is to realize that bitcoin is not crypto and bitcoin is not  a security. that's all there is to know.

BTC is not crypto?
Is it a non-crypto coin? 
As far as I know, BTC is a part of crypto coins.

I am pretty sure darkangel11 means that Bitcoin doesn't represent whole crypto. It represents only itself.