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by throwawaymaths
1186 days ago
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I'm not sure that is the analogy you want -- You do understand Fentanyl is a legal drug with legitimate uses? If Coinbase claims to want to be a doctor, then by your analogy the DEA is deliberately being unclear to trap doctors. Which, lol, is something that the DEA is known to have done. In the US there should be an expectation that if a regulatory agency is going to regulate it must have clear and unambiguous rules, and have enforcement policy documented and reviewed. Anything short of that is just a recipe for abuse. To be clear, all sorts of regulatory agencies do tons of shenanigans, and this is low on the list. But still. We can do better. |
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No, SEC is telling Coinbase to register the securities (aka tokens that walk like securities and quack like securities) that they are offering. Just like it's legal to sell fentanyl with proper medical and pharmaceutical licenses, it is also legal to register your tokens as security and follow all the security sales regulations. However, Coinbase doesn't like that because it cuts into their profit margins, just like the cartel doesn't like registering as a medical organization because it will limit their profits.