Everything is a security? | Bitcointalksearch.org

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: pesci on August 23, 2021, 11:25:13 AM

If I understand correctly, the SEC (securities and exchange commission) believes it has the right to declare anything that is exchanged for money a "security",

In the U.S., there is something called the Howey Test that the SEC must use to determine if something is a security or not.

Simply exchanging something for money is not sufficient. Bitcoin is not a security.

Sterbens

sr. member

Activity: 1848

Merit: 341

Duelbits.com

The Securities and Exchange Commission really looked for exchange loopholes, even when Poloniex was identified by the SEC, they had to pay a hefty $10 million fine.

Quote

“Poloniex prefers increasing profits over compliance with federal securities laws by listing digital asset securities on an unlisted exchange… Poloniex seeks to circumvent the SEC regulatory regime, which applies to any market to unite buyers and sellers of securities regardless of the technology is applied"

As difficult as it is to watch the SEC movements in all sectors of the stock exchange, we make it seem as if the SEC is not following up on Wall Street criminals. This is inseparable from Polonix's violation of compliance with applicable regulations. For the SEC everything is very easy to play, they can identify anything that conflicts with the SEC's desire to be the most authoritarian when it comes to transaction crimes.

pesci

newbie

Activity: 9

Merit: 4

If I understand correctly, the SEC (securities and exchange commission) believes it has the right to declare anything that is exchanged for money a "security", the selling of which requires a special license from them.
Currently they're going after LBRY, which I've never used but it sounds like they are the "easy target", the weakest kid on the playground that the bully is automatically going to go after.
Is that correct?
This is all very dubious since the SEC is the same entity that almost never prosecutes Wall Street's criminal activities. They are widely viewed as a corrupt "captured regulator".
Here's a video that I found about SEC vs LBRY: https://helplbrysavecrypto.com/

Topic: Everything is a security? (Read 86 times)