[mrguyorama]

If you've never worked with a rules engine that interacts with the mushiness of human interaction than you don't understand how insane it is to claim there needs to be "very clear" rules.

Human interaction is fuzzy, THAT'S why the rules are fuzzy. Also, the SEC itself isn't the arbiter of what the law says, that's the court's job.

Go ahead, try to write a complete and comprehensive and unambiguous system for defining human interaction.

[saurik]

> Also, the SEC itself isn't the arbiter of what the law says, that's the court's job.

To the extent to which we are taking about the laws (and not rules), it is worth noting that the SEC--despite claiming these laws are clear--is almost hilariously bad at understanding them given that they are now on a losing streak in the courts ;P. So far, they have lost on their enforcement of Ripple, were told the reasons they denied Greyscale were unacceptable, and the courts have them on a right timeline (refusing to cede jurisdiction) to provide to Coinbase the regulatory clarity they petitioned for (which is currently supposed to happen by October 11th, but we'll see if they figure out how to delay further).