Sun is a well-known figure in the market, but the news will not be too big to affect the market and bitcoin. Recently CZ was also sued by the CFTC, and bitcoin immediately reacted to this news, if CZ is prosecuted, it will be a bigger problem that we have to fear because the influence of CZ on the market is too great. The CFTC and the SEC are vying for control of cryptocurrencies, so they are constantly targeting crypto individuals and institutions. But sometimes fud is not necessarily a bad thing but a good signal to buy cheap BTC.
Topic: Justin Sun sued by SEC. Effect on Bitcoin? - page 2. (Read 517 times)
@mv1986. Another argument on why the American government has made a wrong assessment and the wrong action on cracking down the cryptospace is because of the stablecoin argument. Much of the stablecoins in existence are American dollars and stablecoins can become as a mechanism for worldwide distribution for American dollars for people to use American dollars. If they take this down, it will give away an opportunity to the Chinese Yuan to widen their distribution mechanisms for their own currency.
I am not quite certain about the exact situation, however, it appears that the SEC is creating an environment that is very much discouraging for the cryptospace.
Also, while this comedy show in America begins there are other jurisdictions like El Salvador that are making the correct assessment and they are creating an encouraging environment.
El Salvador President To Eliminate All Taxes on Technology Innovations
In a recent tweet, Bukele notes that all taxes, including income, property, and capital gains, as well as import tariffs, will be eliminated. Additionally, this hasn’t come to fruition yet. The President said that he will be sending a bill to Congress next week.
Furthermore, the President notes that “technology innovations” will include AI development, coding, and apps, among others. Elaborating on the same, Bukele tweeted,
"Next week, I’ll be sending a bill to Congress to eliminate all taxes (income, property, capital gains, and import tariffs) on technology innovations, such as software programming, coding, apps, and AI development, as well as computing and communications hardware manufacturing.”
Source https://watcher.guru/news/el-salvador-president-to-eliminate-all-taxes-on-technology-innovations
Also, while this comedy show in America begins there are other jurisdictions like El Salvador that are making the correct assessment and they are creating an encouraging environment.
El Salvador President To Eliminate All Taxes on Technology Innovations
In a recent tweet, Bukele notes that all taxes, including income, property, and capital gains, as well as import tariffs, will be eliminated. Additionally, this hasn’t come to fruition yet. The President said that he will be sending a bill to Congress next week.
Furthermore, the President notes that “technology innovations” will include AI development, coding, and apps, among others. Elaborating on the same, Bukele tweeted,
"Next week, I’ll be sending a bill to Congress to eliminate all taxes (income, property, capital gains, and import tariffs) on technology innovations, such as software programming, coding, apps, and AI development, as well as computing and communications hardware manufacturing.”
Source https://watcher.guru/news/el-salvador-president-to-eliminate-all-taxes-on-technology-innovations
This is what would certainly be happening if countries like the USA decide to create a hostile environment. I am saying "country" because the SEC alone can't destroy an industry , no matter how independent they are. If there is consensus about the approach to a certain technological development, I am sure the SEC would follow any instructions or would commit to basic agreement about how to approach new developments in whatever area. Why the SEC is turning hostile is raising questions for me. It is inconsistent to some degree because if they really wanted to crack down on the industry, they could take measures with much harder impact on the crypto space. I think for now we can only be patient and see how it plays out. But if they crack down on it, it is the smaller countries that will take initiative and try to benefit from potential foregone opportunities by the larger economies.
Another stressfull news for the community.
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Who's that person?? I don't know him at allTron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Ohhh he's the current founder of Tron. The founder who has lots of controversies already way back a few years ago. I can't remember, but there was a time where he said something that caused uncertainties to the whole crypto market. Anyway, I can't see it a stressful at all because after this, Bitcoin will just rise up again.
This can make someone stressed but for those who HODL other coins, they must not worry as their coins can still recover in case it will be affected a little. The price of BTC was still over $28k so $30k was still achievable. Negative news are always there but let's hope that they won't come very often.
SEC is on an anti-crypto rampage.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
I have a different view, they are not against cryptocurrencies, they are doing is showing power and wanting to enter the market and regulate it. They don't want the cryptocurrency to grow freely, and they don't get any benefit from it. They intentionally make it difficult for the market and intentionally create false evidence that the crypto market is dangerous and risky for investors if not regulated so that they get support and get a legal takeover. As far as I know, the SEC and CFTC are vying for the right to regulate cryptocurrencies.
I don't think it will somehow affect btc cuz Justin Sun mostly was related to luna
What are you talking about mate ? Justin is related to TRX (tron) not luna. Meanwhile, there is also a new recent news that Do Kwon or whatever his name is (the founder of luna) got arrested in Montenegro. Btw, its glad to see such ppl going to jail. They even made few ppl commit suicide out of their scam.
Maybe Justin should have considered the consequences of following in the footsteps of Vitalik Buterin, forking his code, and marketing people on a scammy poorly developed insecure blockchain with glaring censorship problems.
I dont think eth is that bad 
Maybe Justin should have considered the consequences of following in the footsteps of Vitalik Buterin, forking his code, and marketing people on a scammy poorly developed insecure blockchain with glaring censorship problems.
SEC is on an anti-crypto rampage.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
Agreed. This coordinated campaign by the American government, regulators and politicians against the cryptospace will be considered as one of the biggest errors in the history of financial technology. The adoption of the whole cryptospace cannot be stopped by Gensler and the developments created in America will clearly go to other countries.
But what is the exact situation in the USA if for that matter Biden's administration goes hard on crypto and passes some laws. Is there still a certain federal freedom from state to state to actually bring that law into effect or could some rather pro crypto states first sue and go to the highest court before complying with what Biden says? Or do they have the freedom in every state to be more welcoming to crypto in general? That is the problem I see with the EU except for Switzerland. If the EU pushes for regulation, it is a lot of states that have to comply and the EU has the possibility to sanction states that don't comply. I guess crypto isn't worth defending in exchange for being sanctioned (yet).
I am not quite certain about the exact situation, however, it appears that the SEC is creating an environment that is very much discouraging for the cryptospace.
Also, while this comedy show in America begins there are other jurisdictions like El Salvador that are making the correct assessment and they are creating an encouraging environment.
El Salvador President To Eliminate All Taxes on Technology Innovations
In a recent tweet, Bukele notes that all taxes, including income, property, and capital gains, as well as import tariffs, will be eliminated. Additionally, this hasn’t come to fruition yet. The President said that he will be sending a bill to Congress next week.
Furthermore, the President notes that “technology innovations” will include AI development, coding, and apps, among others. Elaborating on the same, Bukele tweeted,
"Next week, I’ll be sending a bill to Congress to eliminate all taxes (income, property, capital gains, and import tariffs) on technology innovations, such as software programming, coding, apps, and AI development, as well as computing and communications hardware manufacturing.”
Source https://watcher.guru/news/el-salvador-president-to-eliminate-all-taxes-on-technology-innovations
Another stressfull news for the community.
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Source of news: https://www.coindesk.com/policy/2023/03/22/tron-founder-justin-sun-sued-by-us-sec-on-securities-market-manipulation-charges/
It will not affect too much or maybe even a little. It can only affect to those tokens that are related to him other than that there's nothing to be afraid of. We all know Justin maybe? but I would rather say if CZ is the one who is being sued maybe that will affect bitcoin. SEC never fail to surprise us. I just wondering if what projects will be the next target of SEC? Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Source of news: https://www.coindesk.com/policy/2023/03/22/tron-founder-justin-sun-sued-by-us-sec-on-securities-market-manipulation-charges/
I don't think it will somehow affect btc cuz Justin Sun mostly was related to luna
SEC is on an anti-crypto rampage.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
Agreed. This coordinated campaign by the American government, regulators and politicians against the cryptospace will be considered as one of the biggest errors in the history of financial technology. The adoption of the whole cryptospace cannot be stopped by Gensler and the developments created in America will clearly go to other countries.
But what is the exact situation in the USA if for that matter Biden's administration goes hard on crypto and passes some laws. Is there still a certain federal freedom from state to state to actually bring that law into effect or could some rather pro crypto states first sue and go to the highest court before complying with what Biden says? Or do they have the freedom in every state to be more welcoming to crypto in general? That is the problem I see with the EU except for Switzerland. If the EU pushes for regulation, it is a lot of states that have to comply and the EU has the possibility to sanction states that don't comply. I guess crypto isn't worth defending in exchange for being sanctioned (yet).
SEC is on an anti-crypto rampage.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
Agreed. This coordinated campaign by the American government, regulators and politicians against the cryptospace will be considered as one of the biggest errors in the history of financial technology. The adoption of the whole cryptospace cannot be stopped by Gensler and the developments created in America will clearly go to other countries.
The current market recovery after it plummets to sub $27k the past days had shown that the case of Justin Sun being sued by SEC has no effect on Bitcoin at all. The only market that reacts to this issue is TRX but it is just momentary because the price of TRX is recovering now.
Justin Sun is not affiliated with Bitcoin even though he may be holding a huge amount of Bitcoin. Also, Justin Sun does not represent any Bitcoin company that is why thinking that Bitcoin market will react to the issue is just overthinking.
If ever there is a ripple effect then that is XRP investors shifting to Bitcoin. Which possibly happening because Bitcoin had a fast recovery after the announcement of FED about the interest rate hike.
Justin Sun is not affiliated with Bitcoin even though he may be holding a huge amount of Bitcoin. Also, Justin Sun does not represent any Bitcoin company that is why thinking that Bitcoin market will react to the issue is just overthinking.
If you only consider the impact on Bitcoin, you would be mistaken. News can have ripple effects throughout the entire cryptocurrency market. This was evident in the recent market downturn, where not only Bitcoin but all altcoins experienced a sharp decline. It is clear that the cryptocurrency market is highly reactive to news. It seems that whenever Bitcoin experiences growth, an unexpected attack occurs, causing a downturn in the entire industry. The negative impact of news on the cryptocurrency market as a whole cannot be overstated.
If ever there is a ripple effect then that is XRP investors shifting to Bitcoin. Which possibly happening because Bitcoin had a fast recovery after the announcement of FED about the interest rate hike.
If you only consider the impact on Bitcoin, you would be mistaken. News can have ripple effects throughout the entire cryptocurrency market. This was evident in the recent market downturn, where not only Bitcoin but all altcoins experienced a sharp decline. It is clear that the cryptocurrency market is highly reactive to news. It seems that whenever Bitcoin experiences growth, an unexpected attack occurs, causing a downturn in the entire industry. The negative impact of news on the cryptocurrency market as a whole cannot be overstated.
I see Justin Sun and CZ as the cyberpunks of our time.
That's a bad analogy. According to my recollection, the cyberpunk movement is a subculture that embraced computer technology, hacking, and science fiction. Cyberpunks were often associated with a DIY (Do-It-Yourself) ethic and a rejection of mainstream values.
Similarly, Bitcoiners are often seen as rejecting traditional financial institutions and embracing a decentralized, digital currency. They may also be associated with a DIY attitude towards finance and the use of technology to disrupt the traditional financial system. Therefore, in my opinion, all true bitcoiners are the cyberpunks of our time.
I’m honestly surprised this didn’t happen in 2017. The way that he sold his tokens and then started buying companies on behalf of it seemed a little shady. It never really sat right with me because it smelled of manipulation similar to SBF tactics. Justin was able to stay afloat though. Now that they’re cracking down industry wide, it seems like they’re working through a list of who to get.
This is mere witchhunt and will generate a lot rumor around is relationship with CZ.binance. it is overdue after so many years. They will demands a settlement out of court and will play a sane system without corruption.
The related news about Justin Sun being sued by the SEC has caused the market to react negatively, with a sudden drop in price. for how many Bitcoins Justin Sun had to throw on the market It is unclear. the SEC accusations against him related to securities and market manipulation in my opinion are not directly related to Bitcoin itself. The impact of this news on the Bitcoin price may be temporary and contingent on the outcome of the lawsuit.
SEC is on an anti-crypto rampage.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.
Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.
Another stressfull news for the community.
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Source of news: https://www.coindesk.com/policy/2023/03/22/tron-founder-justin-sun-sued-by-us-sec-on-securities-market-manipulation-charges/
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Source of news: https://www.coindesk.com/policy/2023/03/22/tron-founder-justin-sun-sued-by-us-sec-on-securities-market-manipulation-charges/
In that regard crypto is still the Wild West because you have so many on and off ramps and sometimes even decentralized exchanges or swap services. I think nobody can imagine how much of that stuff is going on behind the scenes. Sun definitely wasn't the last one who gets caught or pressed charges against. I would still say that TRX is that big of a deal to the whole community. It didn't plummet to zero or anything.
I’m honestly surprised this didn’t happen in 2017. The way that he sold his tokens and then started buying companies on behalf of it seemed a little shady. It never really sat right with me because it smelled of manipulation similar to SBF tactics. Justin was able to stay afloat though. Now that they’re cracking down industry wide, it seems like they’re working through a list of who to get.
Jump to: