[jxramos]

I love that, at most it establishes that they think that they engage in securities dealings but what if they're actually mistaken in that regard or merely speak that way as a shorthand for recognizing that others, namely the SEC itself, thinks of them as securities dealers or whatever. Leaning on their self identification alone does sound weak when we surface these points out in the open. We have no objective test like you say then why are they even talking about this stuff. Do the hard work to define and wrestle with the necessary concepts. Sounds like this is all cutting edge stuff though.

[jxramos]

I just had a funny thought experiment along this self identification route. "I identify as a trillionaire" and finding that claim triggering the IRS to go hunt me down to find all those taxes I never paid as a trillionaire.