So it looks like ConsenSys and the SEC are about to wrap up that case about MetaMask. They’re saying it should get dismissed soon, pending approval from the Commission. Pretty wild, right?
SEC Lawsuits on the Chopping Block?
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Gemini just announced that the SEC is dropping their investigation into them. They've officially cleared the air after a year of uncertainty. Glad to see it.
SilentOrbitSenior Member
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#3Nov 12, 2018, 01:13 AM
I caught bits of this on the news. The US government seems to be softening its stance on crypto. I do hope the SEC isn’t too influenced by the president's whims, though. Feels like they should have their own authority.
its_walletMember
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#4Nov 12, 2018, 07:26 AM
Honestly hoping we don’t end up with another FTX situation. If the SEC is backing off too much, we might see some shady stuff pop up. People could get hurt.
Right? Under Biden, the SEC was hammering down on exchanges. This new vibe feels way more relaxed, which could be good or bad.
I’m all for less aggressive regulation, but if the SEC is soft, it opens the door for scams. Like that memecoin disaster with Trump ain't what we want for crypto.
silentchadMember
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#7Nov 14, 2018, 01:59 PM
Isn’t that meme token thing exactly what’s wrong? $350 million from a presidential crypto? Feels like a total scam.
Not saying they’re scams, but just because the SEC isn’t pushing charges doesn’t mean there aren’t issues. Investigations can be paused, not necessarily closed.
Exactly! The real issue is the stance of the government. If they backed crypto more, we wouldn’t have so many lawsuits in the first place. This could be a win for everyone.
I get what you’re saying, but can you clarify? Are you talking about suspensions or actual case closures? There’s a big difference.
Going forward, it seems like the SEC will target obvious scams instead of just using a broad brush. Hope this is a good change for the industry.
SilentHodlerMember
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#12Nov 17, 2018, 05:16 PM
Yeah, but we’ve still got a lot of questionable companies out there. It’s a slippery slope.
Here’s a thought: isn’t this all tied to the MEME Act? Kind of scary how it might affect regulation.
Right? They really need to nail down what counts as utility in tokens versus securities. We can't keep having confusion like with Ripple.
SEC back in action? When Trump picked Uyeda, I thought maybe things would shift for the better. So far, it sounds promising.
But wait heard they might still be looking into Binance. Are they gonna drop that case too?
ledger_2021Hero Member
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#17Nov 20, 2018, 01:10 AM
Could be. They were putting cases on hold for now, but it’s all still up in the air.
SEC seems to be backing down. It’s either a sign of change or a recipe for disaster. Who knows?
Good news for crypto firms, though. Hopefully, it means the SEC is ready to work with the industry rather than against it.
ben.matrixNewbie
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#20Nov 20, 2018, 02:12 PM
Just saw that they’ve reached an agreement with Gemini after years of complaints. Looks like they’re finally working toward resolutions.