The war is on | Bitcointalksearch.org

yhiaali3

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Quote from: NotATether on April 20, 2023, 08:10:24 AM

So much for their "assembled avengers".

It's bad news, because it means now Coinbase can do all the shady stuff it likes e.g. FTX, Bitfinex, BitMEX, and it dampens the narrative of a "safe crypto exchange".

Yes, it is possible, but do you think that Coinbase staying in the US can protect users? Unfortunately, the laws in the United States, as much as they protect users, but they also restrict them through their strict laws in the same way that they restrict exchanges.

So personally, I think it's better for the crypto community to get these services out of the US.

NotATether

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Quote from: Dave1 on April 19, 2023, 07:48:39 PM

And with this, Coinbase has threaten to leave the US if there's no clear regulatory framework, as per Brian Armstrong.

They also got a Bermuda license,

Quote

United States-based cryptocurrency exchange Coinbase has received a license to operate in Bermuda and is reportedly set to launch a derivatives exchange based there as soon as next week.

https://cointelegraph.com/news/coinbase-gets-bermuda-license-reportedly-plans-launch-of-offshore-exchange

So this might be the first sign that indeed in the future, if the US still put the hammer ban on exchanges not just Coinbase, they might be force to leave the US and look for more crypto friendly countries like Bermuda and operate without the government hounding them every time.

So much for their "assembled avengers".

It's bad news, because it means now Coinbase can do all the shady stuff it likes e.g. FTX, Bitfinex, BitMEX, and it dampens the narrative of a "safe crypto exchange".

Kemarit

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^^ Well it's good if Coinbase will have to look for other country that they can go and continue being one of the best exchanges without the government always on their tale and being threaten with a lawsuit.

And that is the advantage that countries like Bermuda had, they will attract more and more crypto related project to set their headquarters in this tiny island because of the relax crypto regulations. So for me this is good news, and this could be just one of those big exchanges to move to other countries too.

Dave1

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And with this, Coinbase has threaten to leave the US if there's no clear regulatory framework, as per Brian Armstrong.

They also got a Bermuda license,

Quote

United States-based cryptocurrency exchange Coinbase has received a license to operate in Bermuda and is reportedly set to launch a derivatives exchange based there as soon as next week.

https://cointelegraph.com/news/coinbase-gets-bermuda-license-reportedly-plans-launch-of-offshore-exchange

So this might be the first sign that indeed in the future, if the US still put the hammer ban on exchanges not just Coinbase, they might be force to leave the US and look for more crypto friendly countries like Bermuda and operate without the government hounding them every time.

YOSHIE

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Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

In my opinion, the Coinbase exchange team or lawyers have the right to submit all things and actions that they think are detrimental to Coinbase, they show civil evidence and cases that are being faced by Coinbase exchange to the SEC at this time.

As well as the SEC, they have the right to protect investors and also the SEC is responsible for overseeing the regulation of the crypto market and also they the SEC cooperates with the Department of Justice in handling certain cases in the current crypto exchange actions, their laws are official and strong, of course there are winners and losers in the name of war, if Coinbase has strong evidence in this case, of course they can win against lawsuits in court to face the SEC and vice versa.

But the SEC has full rights to protect anyone who is involved in crypto exchanges that lead to fraud, as far as I know the SEC before taking a decision and action against a particular crypto exchange declared as a fraud, they SEC usually has collected several databases, analyses, reports, electronic data and so on against the exchange, but if Coinbase can prove that they are not fraudulent and wrong, I think it's fine, but to find out who wins in this lawsuit, of course we need to look further into this war.

Baofeng

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Quote from: NotATether on April 11, 2023, 02:55:16 AM

Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers
~

Let me stop you right there.

They don't look like "avengers" to me. They resemble more of HYDRA fighting the Black Order.

Nobody really cares about whether coinbase wins or loses the battle except for die-hard traders who want to keep their 100x leverage and 10% stake yielding options, and every other XRP fanboy on the Earth's surface.

My money is on they will rip each other apart though, which is great for us because then we win!

Or just take out our coins from Coinbase pronto!!, self-custody.

And even if Coinbase send the best lawyers that they can find, it will still a uphill battle against SEC.

They have the money though, so let's see. If Ripple can afford $100 million on legal fees, I think Coinbase has more money to do that and fight and not be bullied by SEC.

https://twitter.com/CoinDesk/status/1548023702918377473

NotATether

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Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers
~

Let me stop you right there.

They don't look like "avengers" to me. They resemble more of HYDRA fighting the Black Order.

Nobody really cares about whether coinbase wins or loses the battle except for die-hard traders who want to keep their 100x leverage and 10% stake yielding options, and every other XRP fanboy on the Earth's surface.

My money is on they will rip each other apart though, which is great for us because then we win!

Poker Player

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We will have to see the argumentation, because it is clear that shitcoins are not commodities. So, I don't know what they are going to argue that they are. If they are going to argue that they are commodities they are going to waste time and money.

Quote from: Beparanf on March 24, 2023, 10:11:28 AM

Lmao, Does anyone in crypto space manage to beat SEC in regards with technicalities?

I don't think so, and I also think that this is not so much a question of discovery as of definition. In the crypto space at the legal level things are what the SEC says they are, not what others think they might be. For the SEC to change their mind they have to see very cogent arguments.

zeuner

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Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

It's like the whole crypto space is yelling out to Coinbase to save them. Cheesy

I regard PoS as too experimental to really care. But hopefully these battles will lead to some clarity regarding where to draw the line between securities and something else.

UmerIdrees

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Quote from: Beparanf on March 24, 2023, 10:11:28 AM

Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

It's like the whole crypto space is yelling out to Coinbase to save them. Cheesy

Lmao, Does anyone in crypto space manage to beat SEC in regards with technicalities? Cryptocurrency is on the gray area that makes SEC more powerful because they can introduce or sight a favorable law that will make staking as security. I wonder if these avengers attorney can make a change on dealing against SEC since XRP is having a hard time dealing with them even Ripple has a good reason on why they are not a security token.

Unfortunately, the Security and exchange commission's mission is to stop the spread of cryptocurrency and due to this, they are coming strong against every exchange. Even they are making strict laws against cryptocurrencies which shows their intent is not crypto-friendly.

Anyways i am hopeful that against all the odds, the crypto exchanges will come strong as the whole crypto community is with them. they just can't force the exchanges to shut down and crypto to die when the public wants to invest in Bitcoin and cryptocurrencies.

Hamza2424

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I don't care about POS projects and other shitcoins. Yeah, but Coinbase is a big concern and now Binance is also getting targeted directly. SEC and law enforcement teams are doing similar kinds of things with crypto projects haha as PDM is doing within my inner-country politics with Imran Khan. All the policies and forces against just a single purpose in my country's politics are somehow stopping Khan from taking the charge of government again and on the crypto market, the approach is quite similar to stop somehow Bitcoin from dominating the financial market.

buwaytress

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Not that the SEC or Coinbase is a preferred ally, but they really are just people on the same side of our fence, you do realise that, right? They want our money/business/revenue/tax. It's a fight over who gets our share.

We don't have to rely on them winning to use Bitcoin on our own. That... is almost the entire point of Bitcoin.

As DooMAD says.

cabron

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Coinbase has to fight back otherwise SEC will just keep wrecking the industry one by one those coins they hold even the ETH will eventually not going to be taken seriously by the macro investors. They always see thru what regulators do, this is the kind of government that will do the worse as they need a lot of money.

One has to win against SEC either coinbase or ripple. When this happens I think SEC will stop and will probably lose its turf in trying to regulate crypto.

zasad@

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Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

It's like the whole crypto space is yelling out to Coinbase to save them. Cheesy

No one has won against the SEC yet. For Ripple, things can end up with huge fines, although for Ripple it will be little money.
The SEC's hunt has only just begun, and a fair number of projects will suffer this year. In America, precedent legislation, so all large companies will pay fines.
American law is not bloodthirsty, pay the fine and move on.

DooMAD

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Leave no FUD unchallenged

Is it wrong that I want both sides to lose? Cheesy

Coinbase is a terrible company and only interested in their profit margins. But regulatory overreach is also a concern. Both sides suck.

AI Am I

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Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

It's like the whole crypto space is yelling out to Coinbase to save them. Cheesy

The outcome of Coinbase's efforts to prove to the SEC that proof of stake projects are not securities remains to be seen. The fact that Coinbase has assembled a team of experienced attorneys indicates that they are taking this issue seriously and are prepared to fight their case.

It is worth noting that Coinbase is not the only cryptocurrency company that has faced regulatory challenges recently. Many other companies in the crypto space have also had to deal with regulatory issues, and it is possible that more will follow in the future. As to why Coinbase seems to be at the forefront of this battle, it could be due to a variety of reasons, such as its high profile, its size, or its unique business model. Ultimately, the success or failure of Coinbase's efforts will depend on a variety of factors, including the strength of their legal arguments, the SEC's response, and the broader regulatory landscape for cryptocurrencies.

DevFile90

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Haha, very funny, looks like a lost war before it even begins, for the fact that it was the SEC that sued coinbase, I bet they already have some proof in place, what if Coinbase is not clean? SEC could shock Coinbase attorneys, do not underestimate the SEC capabilities, I read somewhere that Coinbase is owing some money and also some money laundering rumors, there are way too many reasons why SEC can prosecute coinbase.

Nwada001

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Quote from: Obari on March 24, 2023, 10:59:39 AM

It seems you have some good details about this recent case and I will be glad if you can give out a link to the news so I can get to read it myself then I will be truly grateful as I look forward to it.

This post will be a great help to all the sources link you will probably need .
https://bitcointalksearch.org/topic/m.61963043

Obari

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Quote from: Nwada001 on March 24, 2023, 10:14:43 AM

Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

It's like the whole crypto space is yelling out to Coinbase to save them. Cheesy

No one is yelling at Coinbase to save them, Coinbase is just trying to clear there own head. Did you forget the SEC has already issued a warning to Coinbase regarding being sued over the proof of stake issue? If other exchanges have a similar case with the Fed, they will probably make a move to clear the air and prove to them that things aren't the way they take them to be.

Just as @Beparanf said, How can you actually fight against those who made the law, and they can interpret the law to be what they want it to be. If they say it's security, they will probably explain it as such in their own terms.

It seems you have some good details about this recent case and I will be glad if you can give out a link to the news so I can get to read it myself then I will be truly grateful as I look forward to it.
This is another case to show that government is really trying so hard to fight crypto and I hope things goes well with Coinbase and I hope that the full details of the news or better still the thread should be updated with all the results of the hearing and court readings because I will love to know how things finally turned out to be and what the fate of Coinbase would be.

Nwada001

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Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

It's like the whole crypto space is yelling out to Coinbase to save them. Cheesy

No one is yelling at Coinbase to save them, Coinbase is just trying to clear there own head. Did you forget the SEC has already issued a warning to Coinbase regarding being sued over the proof of stake issue? If other exchanges have a similar case with the Fed, they will probably make a move to clear the air and prove to them that things aren't the way they take them to be.

Just as @Beparanf said, How can you actually fight against those who made the law, and they can interpret the law to be what they want it to be. If they say it's security, they will probably explain it as such in their own terms.

Beparanf

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Quote from: ANSEL_2.0 on March 24, 2023, 10:06:42 AM

Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

It's like the whole crypto space is yelling out to Coinbase to save them. Cheesy

Lmao, Does anyone in crypto space manage to beat SEC in regards with technicalities? Cryptocurrency is on the gray area that makes SEC more powerful because they can introduce or sight a favorable law that will make staking as security. I wonder if these avengers attorney can make a change on dealing against SEC since XRP is having a hard time dealing with them even Ripple has a good reason on why they are not a security token.

ANSEL_2.0

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Coinbase has assembled their team of avengers to go and face the SEC and prove to them that proof of stake projects are not a security, how do you think this will end? The team consists of six different tough attorneys, will this end in Success or failure? So far, why is coinbase the only one who was forced to assemble to battle?

It's like the whole crypto space is yelling out to Coinbase to save them. Cheesy

Topic: The war is on (Read 345 times)