Topic: We must fight back SEC, from Ripple to Coinbase (Read 201 times)

I think that the SEC can go as far as using Bitcoin, which is the original legal tender in the USA. I also saw that on some exchanges, they had regulations and the courts were really strict. 
 
And the fact that they can legally regulate altcoins that is why they can move bitcoin out of their country. So, if it's for legal purposes, it's better that they move it because this is where there will be regulations in the future, but how they can get regulation is completely different.

True. Sue the SEC for not having regulatory clarity which they are supposed to be doing since. That is already a win for Coinbasebecause obviously Gensler is not one to rely on for such a job.

Coinbaase moving to the EU is not a problem. Armstrong or any other CEO of a crypto company to just keep waiting while the company is grabbed by the neck, they can move to EU or any other country that is crypto-friendly. Heck, why not Hongkong.

If Coinbase thinks that filing a case against SEC in US will give them any relief, they are living in fool's paradise. SEC is a part of the government and not an accidental outsider agency. I am sure Coinbase will find themselves in more dirty water soon.

I strongly believe, it is better for cryptocurrency companies and altcoin providers to move out of US permanently. Because that's exactly what the SEC wants. Move out to Singapore and keep on providing services to the worldwide users without any regulatory hassles.

IMO, the SEC has used its power to make one-sided decisions and influence the rise of the crypto market and the rapidly growing industry globally. The SEC lawsuit against Ripple was controversial when the SEC required Ripple to register XRP, a cryptocurrency that Ripple claims is not a security but a regular cryptocurrency.

This is a complex and controversial issue in the crypto community. First, however, we need to be clear that the SEC has a responsibility to protect investors and the market from illegal practices in accessing and using crypto. It is important that legal regulations apply to every company and individual operating in the crypto market. Consumers and investors need to be protected from scams and hidden risks that exist in this market.

The SEC cannot stop Bitcoin so I do not really care about the regulation theater they are trying to impress the feeble-minded with. I certainly am not going to defend the Terra scam or its scammer CEO and I am definitely not going to defend the business operations of any centralized exchanges. Bitcoin has defeated any and every regulator. Unless every country in the world chose to become dictatorships which collectively outlaw the entire internet, there will always be ways to mine Bitcoin. And I am sure there will always be ways to buy Bitcoin, no matter how many obstacles the government wishes to put in our way.

Bitcoin is freedom. Bitcoin is unstoppable rebellion.

It's all just rumors, and they say that if the US continues to pressure and embarrass them, they will move to another country with friendlier laws.
Binance has also made this point, but it's all just a rumor.

In my opinion, the SEC is looking for a way to blame crypto and then legally control the market instead of destroying it completely. Destroying the market is not in their favor, they have seen the benefit of the market, and they do not want it to fall into the hands of another regulator like the CFTC. As far as I know, both are vying for control of the cryptocurrency market.

The SEC has been growing its regulatory scrutiny at the cryptocurrency enterprise in current years, and this has led to numerous criminal battles, along with the only among the SEC and Ripple Labs, the creators of XRP. To combat again towards the SEC, corporations withinside the cryptocurrency enterprise like Ripple and Coinbase, have to have extraordinary techniques like searching for regulatory readability, Some corporations withinside the enterprise are lobbying regulators and lawmakers to set up clean policies and policies for cryptocurrencies. This ought to assist save criminal battles withinside the destiny with the aid of using presenting greater readability on what's and is not allowed. Many corporations withinside the enterprise also are targeted on instructing the general public approximately cryptocurrencies and blockchain technology. This ought to assist construct guide for the enterprise and make regulators greater cushty with it.
There isn't any one-size-fits-all method to preventing again towards the SEC. Companies withinside the cryptocurrency enterprise want to evaluate their very own conditions and pick the method that is first-rate for them.

Isn't it very strange what he said during his lesson teaching about cryptocurrencies back when he was a professor and now. Times have changed:

https://twitter.com/WayneVaughan/status/1650951646472466439

This can go against him in any future cases being at the helm of the SEC and anything to do with the definition of what is a security and what isn't, while he is making the rules of regulations to do with cryptocurrencies.

Who needs CEX's when you have alternatives? P2P should be bitcoiner's focus. There is Peach where you can buy Bitcoin P2P. Peach is an app. People should try it a leave the crap of CEx to die. I think Bisq is also used to buy bitcoin p2p, meaning that youc an buy bitcoin from other people without any 3rdd parties such as CEX suckers!

If Coinbase takes the stand further i think then the SEC chairperson is going to be in trouble I was wondering why SEC is behaving like this their primary mission was to establish the framework for the crypto industry. I am not at all standing with the XRP but on the matter of Coinbase, I think they are gonna put huge pressure on SEC now because this is a fact that the past years' SEC policies are non Justifiable they need to rectify their policies now.

^ Probably and the most agency that has prone to corruption are government agencies.
But for me, if Coinbase passes all SEC requirements, then they are good. Remember that the SEC also works to prevent fraudulent and manipulative practices in the securities markets and takes enforcement actions against individuals and companies that engage in such practices. It also considers the SEC regulates securities brokers, dealers, and investment advisers to ensure that they are acting in the best interests of their clients. I am not in favor of them but I think this seems good to us that there is someone agency regulating centralized exchange to avoid abusing their clients.

The SEC is a corrupt organization that aims to achieve its own goals, mostly working with certain US senators like Elizabeth Warren.

They don't want to protect people. It's just a convenient way of explaining their actions, but the situation with SBF clearly shows they did not have the people's best interest in mind.

Recently, Coinbase acquire a Bermuda License,


The point maybe of Coinbase is for SEC to give a clear rule, even Gary Gensler answer on the Front of House Financial Services Committee a week ago is not very clear. When he was grilled about ETH, he can't even answer the questions whether it was a security or commodity.

It's not even 'arguable', it's a damn well-known fact for a while now that the SEC is doing a dogshit job of actually protecting people — assuming protecting people was their intention in the first place.

It's like SEC is passing onto another target just after Ripple and this looks like going to be a trend on them that they'll keep on targeting crypto services and companies that don't pass to what they call, a standard for crypto.

Especially on these times that they need more budget for all of their support and operations globally related to politics. They wouldn't just allow that to quickly happen. I just wish that most crypto companies even the centralized exchanges find a true hub for crypto and a country that's friendly to them.

What SEC can do if any business wants to move out of the country? They can easily do so by closing all their allegations in the court. For example, right now Binance has SEC watch about VGX token listing which seems to be security as per the SEC and thus allegation is on the binance for its listing. Though they have broken the deal with founding company it’s still gonna take some time for SEC and authorities to let go Binance. Anyways, this is just one example but there could be hundreds of tokens or coins like that which Binance will has to let go from their USA domain and get rid of offices in the country.

It’s but obvious that every country has their own legislation and way of work around a matter. It would be interesting to see how US work with these crypto companies and what would be “let them go” policy in the near future.

The problem is that people from SEC seem confused and contradicting themselves so how would anyone expect that they can protect any investor? I may not be a lawyer or some expert in the field but anyone paying attention can probably notice their changing stance on crypto.

I'm interested in the development of the case filed by Coinbase. Maybe that will force them to write a clear rule that can be applied to all centralized crypto platforms within their jurisdiction and hopefully cryptocurrencies as well.

I think that cheering blindly for one side or the other might not yield the best results for all parties involved. Yes, we are frustrated with regulatory bodies like the SEC but their role is to protect investors and maintain fairness in the market as well although some argue that the actions of the SEC stifle innovation in the crypto space.

The decision of SEC regarding suing Coinbase doesn't makes sense in this advanced world. Like any other crypto exchange Coinbase also added some crypto products for the traders, and that doesn't make them wrong because as an exchange they will have to take such steps in order to survive in the competitive market.

I'm sure that after the collapse of FTX exchange, US government is kind of against all cryptocurrencies as well as crypto exchanges. I may be wrong, but from recent news things are shady in that space. They're directly attacking exchanges one by one, by propagating claims against the exchanges without providing proper proofs.

The counterattack by Coinbase makes sense because why should they get scared of such warnings or threats if they are clean, and the products they are offering on their exchange are safe and doesn't involve any criminal or illegal activity. They aren't manipulating anything or any crypto products not even other exchanges, but this time crypto world has to face this disaster together.

SEC has some internal fears regarding rise of Crypto-currencies and they will take every action against the centralized exchanges if the fear continues. They want complete regulation this time, and they want all the exchanges to work under them. If things continue like this than unfortunately many exchanges will stop their services in US.

Let the court interpret this jurisdiction of a thing before you conclude, this is not the first time SEC is suing a company and vice versa. I will only advise that we should sit back and relax as things unfold. Frankly, the overbearing nature of the US regulators is much, they were the reason why Ripple was delisted by Coinbase in 2021, and a lot of issues have risen afterwards which ties the hands of crypto companies in the country.

They are following the path of traditional market trading, which later backfires as most of the trading companies that started in the US moved elsewhere at the time regulators started their unfavourable dramas almost 2 decades ago. They are safeguarding the same occurrence now, but still with unfavourable conditions.