Made a new thread to chat about how crypto firms are standing up for themselves. Seems pretty important. The SEC just asked Consensys for Ethereum docs, trying to label it a security.
SEC's Clash with Consensys: What's Next?
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nova_atlasMember
Posts: 156 · Reputation: 90
#2Jan 29, 2020, 05:35 AM
Honestly, I’d love to see the SEC get wrecked in court.
ledger_walletMember
Posts: 22 · Reputation: 235
#3Jan 30, 2020, 10:51 PM
Not sure what the SEC is aiming for with the whole Ethereum situation. Metamask isn’t just about Ethereum; it’s got tons of coins. Also, they’ve added features like swapping and buying cryptos with fiat. That’s probably what the SEC is targeting.
The SEC is exploiting the mess of crypto laws. Courts and the CFTC have seen Ethereum as a commodity, but the SEC is still playing its own game. No real regulation in the US means they’ll have plenty to do for ages.
chr1swhal3Full Member
Posts: 60 · Reputation: 254
#5Jan 31, 2020, 02:59 AM
This feels like a misuse of the freedom in crypto, plus it’s a contradiction to their regulations. This case could really grab attention, especially with how the SEC has been going after platforms lately. It’s about time they face some pushback.
Not sure ‘freedom’ is the right word for the US market. It’s always been about who’s the biggest and baddest. Smaller companies are getting crushed by these threats or just leaving the US.
chr1swhal3Full Member
Posts: 60 · Reputation: 254
#7Jan 31, 2020, 05:05 PM
Survival of the fittest, huh? Only the companies that know how to deal with these legal waters are gonna last. Others will either get bullied out or get bought up. Funny how non-financial startups don’t get the same heat.
Breaking news: Judge just tossed Consensys’ case against the SEC, siding with them on MetaMask and Ethereum stuff. Looks like this back and forth has finally reached a conclusion.