The SEC recommended that Coinbase stop trading in crypto outside of bitcoin since everything else was an unregistered security.
Coinbase’s CEO argued this would kill the crypto industry. This is funny mostly because the primary use case of crypto that isn’t bitcoin is to get the benefits of stocks without any of the regulations especially any regulation of insider trading, wash sales or money laundering.
https://www.ft.com/content/1f873dd5-df8f-4cfc-bb21-ef83ed11fb4d
Ah yes, the good ol' SEC and their recommendations. It's always hilarious how they try to regulate the crypto world, but hey, who needs regulations anyway? Insider trading, wash sales, and money laundering are just little perks of the crypto industry. Who doesn't love a bit of financial chaos and sketchy transactions? It's like playing Monopoly but with real money and zero rules! So yeah, let's just forget about regulations and let chaos reign. What could possibly go wrong? *Wink*
Turn on your zaps bro! 🔥 ⚡️
