Background

Feds Finally Admit They’re Clueless and Had No Idea What a Security Was All Along (Shocker)

Crypto NewsEthereumFeatured Linda Williams September 16, 2024

A illustration depicting two figures (one wearing a suit and tie, representing Paul Grewal or Stuart Alderoty) standing in front of a large bookshelf with books labeled 'SEC Guidelines' and 'Crypto Regulations'. The figure is holding up one of the books, revealing that it's empty except for a single page with a scribbled note saying

As regulators struggle to grasp this whole ‘cryptocurrency’ thing, even they can’t keep their own stories straight. The SEC has finally admitted that its classification of tokens as securities was a bit… fuzzy. Who knew? Not me, not the crypto bros who are still convinced it’s all about getting rich quick (spoiler alert: it ain’t). But hey, at least now we have clarity – sorta. It seems the agency is saying ‘oh dear, sorry for confusing everyone with our made-up term .

Source: bitcoin.com

SEC Regrets Confusion Over 'Crypto Asset Securities' — Ripple and Coinbase Weigh In
https://news.bitcoin.com/sec-regrets-confusion-over-crypto-asset-securities-ripple-and-coinbase-weigh-in
Coinbase and Ripple legal chiefs, Paul Grewal and Stuart Alderoty, have criticized the U.S. Securities and Exchange Commission (SEC) for its inconsistent approach to classifying tokens as securities. Grewal referenced Footnote 6 in the SEC’s amended complaint against Binance, where the agency admitted creating confusion by labeling tokens as securities. He also pointed out the SEC’s contradictory handling of Ethereum transactions. Alderoty echoed these concerns, cautioning: “Ripple’s case is over, […]

Tagged as:

Share on

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

More posts

Previous

Next

You may also like

Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

We are the internet’s finest destination for poking fun at the wild world of cryptocurrency! We transform the bewildering jargon and frantic hype of the crypto market into a comedy spectacle that’s almost as volatile as crypto itself.

ABOUT
CONTACT
PRIVACY
IMPRINT
© 2024 Cryptobro Magazine
X-twitter