undefined | Better HN

0 pointsdgellow3y ago0 comments

So, you’re saying that Coinbase knowingly offered unregistered security. And acknowledged that’s not legal. The fact the SEC refuses these securities to be registered doesn’t negate the illegal offering of unregistered securities.

0 comments

daedalus_f3y ago

If you look at the recent SEC filing, they present evidence Coinbase likely knew what they were doing was illegal and coached companies wanting to list coins on the exchange on how to remove “problematic language” from their promotional material that might make it too obvious they were selling unregistered securities.

dgellowOP3y ago

Yeah, I cannot really see how they can defend their position here. That will be an interesting case to follow, Coinbase legal team will have to be _creative_.

dlubarov3y ago

Where is this filing? Not sure what that would be since the SEC hasn't brought charges yet.

I don't see an issue with advising companies on what language to use, given that language can absolutely affect whether a token is in fact a security, e.g. based on the "expectation of profit" prong of the Howey test.

fallingknife3y ago

Advising people that you do business with to not do certain things because you think they might violate the law is not the smoking gun that you think it is.

j / k navigate · click thread line to collapse