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by pjg
4030 days ago
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The issue here isn't whether "real-value" was used or not. Technically kids selling lemonade on street corner on a Sun afternoon need a business licence. Do we prosecute them for illegal activity ? Do we arrest their parents ? Does the punishment befit the crime. These guys had limits on what the users could do. Anybody - yes even the SEC - could take a look and see it wasn't a platform for massive illegal trading. They could order a cease and desist. Better yet "cap" the volume to its no more than "tiny gaming level". But imposing a 5 digit fine on founders who are working without pay, without funding ? That's not just stifling innovation, but fear mongering. |
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The title says they only got a $20k fine. Am I misreading it? Was this a lemonade stand run by an 8 year old, or by grown adults who are able to use a search engine and Wikipedia?