[Vervious]

Well, in a libertarian world, the moral high ground is that we should be able to trade anything -- who is the SEC to tell us what we can't trade? It's almost like freedom of speech.

Plus, I don't think consumers should be protected from dogecoin --- no layman in their right mind invests in doge with the expectation of profit (from common enterprise). Bitcoin is more of a security than doge will ever be.

[pavlov]

> “no layman in their right mind invests in doge with the expectation of profit (from common enterprise)”

Influencers pumping the coin on Twitter is a common enterprise. You don’t think people bought DOGE because they hoped those influencers would continue what they were doing?

[Vervious]

I mean, everyone hyping up kale as a supergreen on their social media doesn't make Kale --- the vegetable --- a security. Likewise, people shill GOLD on twitter all the time. Is gold a security?

If kale and gold are securities under the current interpretation of the howey test, then the howey test needs to be rewritten.

[CPLX]

For the most part the SEC doesn’t tell you what you can and can’t trade.

It does however have laws around registration of the security, who can and can’t purchase it under a given registration, disclosure rules, conflict of interest rules, and so on.

[Vervious]

> "It does however have laws around registration of the security"

This sounds a lot like the SEC dictating what can and can't be traded in the modern day. We can't trade something if there isn't an exchange for it.