Coinbase and Gary Gensler are in a death match and only one of them can prevail Jeff John Roberts - Fortune The chair of the Securities and Exchange Commission, Gary Gensler, just went all in. After years of dithering, Gensler instructed his agency to send Coinbase a Wells Notice-a corporate nastygram that means "knock it off or we're going to sue you." The full contents of the document are not public, but Coinbase suggested on Wednesday that the SEC is coming not just for its staking business-a small but important crypto niche-but that it also objects to the company selling digital tokens, which is the core of its business. /jlne.ws/3K4sWnE
Its very interesting, and from what I've read, the SEC is fucked. Its not too different than the idea that the government wanted to go after crypto and instead crashed traditional finance. Here they want to shut down Coinbase to make a case out of the, but Coinbase has a shit ton of evidence that they tried for years to ask for guidance and didn't get any. Plus, the regulatory agencies cannot even agree on who should be doing the regulating, as if there were regulations anyway. Now obviously enough people can be bribed off to make this case come out however they want, but the idea that you can sue someone for doing something wrong when the rules weren't even in place yet is absurd. The US is quickly becoming and banana republic and everything that countries like Russia and China were once accused of will be exactly how the US is managed. Its going to be dictatorship and most won't be able to fight it because they will be reliant on the free handouts by the dictator.
Not surprising. Govt has to slow/stop the flow of funds out of banks and into crypto or we'll have more financial system issues.
Wait what? Banks, lately, have the issues. And why people are relying on bitcoin, primarily, to move their money around. 24x7x365 virtually free. Mainly the reason some banks came up with Zelle.
The SEC already approved of Coinbase going public in 2021. Now they are going to sue them? Why even take this to court? Coinbase has already won And when they win this case it will set the standard for many other cases. "First they ignore you, then they laugh at you, then they fight you, then you win"
Love it when those who have zero idea about the fiat monetary system talk about the fiat monetary system.
Taking the piss out of you guys before all those shiny coins get banned. You can of course keep them in your wallet and rest in the knowledge of having them. Like some who collect Reich Marks.