"...recent change in accounting treatment by Coinbase is that customers' coins are now off Coinbase's balance sheet, and that this change suggests that the coins are owned by the customers, and not by Coinbase." Why is this an issue in first place, if it Shares it is either held on holder's name or broker's name it is clear ,, no ambiguity , this shows what this entire "Crypto" needs to be tightly regulated
Yeah, good luck with that LOL Under Biden, the SEC basically tried to take the position that all crypto was illegal except for Bitcoin, Tether and maybe Ethereum. Well, not exactly illegal, but they took the position that coins were securities, and they made it impossible to register an exchange. Under Biden, the concept of "tight regulation" was "you can't do this." Under Trump, there won't be any regulation at all. LOL Trump and his entourage are selling shitcoins. Anyone at the SEC who tries to do any serious regulation of crypto under Trump will be shown the door. Or maybe even hung from a bridge.
Crypto is many, many things. But it is definitely not shares of stock. That is a large part of the problem. The government can't figure out how to define it or categorize it.
It is straight forward money is money, Cyrpto creation should have same scrutiny as any IPO,, technology is a diff thing if Crypto believes that Crypto is store of value then must have same oversight as other products...