Tl:dr: Today, the SEC gave Coinbase a “Wells notice” regarding an undefined portion of our listed digital assets, our staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet after a cursory investigation. We are prepared for this disappointing development. We are confident in the legality of our assets and services, and if needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets. Rest assured, Coinbase products and services continue to operate as usual - today’s news does not require any changes to our current products or services.
We asked the SEC for reasonable crypto rules for Americans. We got legal threats instead.
Submitted 1 year ago by realcaseyrollins to Finance
sj_zero@lotide.fbxl.net 1 year ago
Crypto sits in a dangerous realm. Legally, only congress has the right to create currency, but the entire crypto industry has sprung up around the idea of creating an alternative currency.
The idea that because it's on the Internet that it's not capable of being regulated is absurd. Once it's fully regulated, it's not really any different than any other thing since a government just needs to say "If you want your crypto to be legal, then you must make it do these things".
realcaseyrollins 1 year ago
Who says that only the government can make a new currency? So are things like Robux and V Bucks also illegal?
sj_zero@lotide.fbxl.net 1 year ago
The US Constitution says that the Congress has sole authority to mint money and that it's supposed to be made of gold and silver.