[overthrow]

Gensler has publicly said “everything other than Bitcoin” is a security.

https://cryptoslate.com/sec-chair-gensler-confirms-everythin...

I'm not saying Coinbase has to agree with that decision, but it's a little silly they're posturing to the public like they're unaware. It's not exactly a secret.

If they disagree then going to court is probably their only move.

[TimJRobinson]

That's not what he said. He said "Bitcoin is the only thing that is definitely not a security", everything else is undecided. Big difference.

Terrible reporting from crypto slate even when it's an opinion piece.

[overthrow]

Your quotation is not what he said. Here's the full paragraph from the original source:

https://nymag.com/intelligencer/2023/02/gary-gensler-on-meet...

> “Everything other than bitcoin,” Gensler told me, “you can find a website, you can find a group of entrepreneurs, they might set up their legal entities in a tax haven offshore, they might have a foundation, they might lawyer it up to try to arbitrage and make it hard jurisdictionally or so forth.” In other words, there are people behind these cryptocurrencies using a variety of complex and legally opaque mechanisms, but at the most basic level, they are trying to promote their tokens and entice investors. (Bitcoin, because of its unique history and creation story, is fundamentally different from other crypto projects in this respect.)

[shrimpx]

Gensler's view is clearly wrong, as there are tons of coins with the same properties as bitcoin, with no premine/ICO.