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by unyttigfjelltol
1110 days ago
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The quote represents the most knowledgeable person in the defendant organization about the regulations, tacitly agreeing with the position on crypto stated by the head of the SEC. "Specifically, [the SEC head] claimed that 'everything but bitcoin' could be considered a security in the world of cryptocurrency, while bitcoin could be considered a commodity due to its stature and resolutely-decentralized nature." [1] The defendant entity could establish a bona fide defense, shut operations, or face the consequences. While bare crypto may or may not require "quotes like this" to allocated, crypto pioneers made it relatively trivial to determine they are acting outside the law, by issuing interest bearing crypto accounts and tying payments to the prospects of entities.[2] [1] https://www.nasdaq.com/articles/secs-gensler-warns-crypto-in... [2] https://www.sec.gov/oiea/investor-alerts-and-bulletins/inves... |
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