/biz/ - Business & Finance

bump

>>11770720

who cares link isn't a security, read the whitepaper

Another uneducated link holder thread

>>11771516
Neither was airfox, read the whitepaper. The token was just "airtime" for some service.
And those guys even did kyc/aml.
Chainlink didn't. The sec is 100% coming for sergey.

And salt is also getting fucked.
https://cointelegraph.com/news/wsj-sec-opened-probe-into-erik-voorhees-crypto-loans-firm-over-2017-50-mln-token-sale

Chainlink is a security.

>>11770720
Thanks for posting this. I'll try to keep it bumped.

Is there anyone who thinks Binance BNB isn't a security?

I reported them after the 1broker seizure
>>/biz/thread/11245281

https://www.sec.gov/news/press-release/2018-264
>According to the SEC’s orders, both CarrierEQ Inc. (Airfox) and Paragon Coin Inc. conducted ICOs in 2017 after the Commission warned that ICOs can be securities offerings in its DAO Report of Investigation.

LINK's and BNB's ICOs were also after the DAO report.

The DAO report was also referenced after they charged the EtherDelat founder.

https://www.sec.gov/news/press-release/2018-258
>Almost all of the orders placed through EtherDelta's platform were traded after the Commission issued its 2017 DAO Report, which concluded that certain digital assets, such as DAO tokens, were securities and that platforms that offered trading of these digital asset securities would be subject to the SEC's requirement that exchanges register or operate pursuant to an exemption.

>>11772887
>I reported them after the 1broker seizure
why would you care enough to do that?

https://www.sec.gov/news/public-statement/digital-asset-securites-issuuance-and-trading

>>11771516
>>11771658
>>11771717

Thank god the ICO was not open to america and the company is based in the caymans or else id give a fuck.

>>11771717
Well i dont know if SEC has authority on cayman Islands?

Chainlink has done everything in its power to not be considered a sec.

>>11770720
Not a security so nothing to worry about

>>11772926
as long as americucks participated you are fucked

stinkies i didn't use that image to call stink a security. i just like it

>>11770720
why would I care if it becomes a security?

>>11773132
sec might force other token issuers to pay a fine and offer buybacks of tokens at ICO price

>>11773165
alright, im sure Sergey has figured it out tho

>>11773250
This. They are hyperconnected with a very good lawyer team. I'm sure they got it under control.

Also SEC will shoot its self in the foot by going after all these projects. They will kill innovation.

>>11771516
If it had an ICO, then it's a security.

It's really that simple.

>>11773250
Sergey runs this scam from the cayman islands, he doesn't give a fuck.

This ruling is a massive overstep by the SEC. Fuck!

So what does this mean? The sec is gonna ban Chainlink and send goons to put a bullet in my head to protect me from trading illegal memetokens?

>>11773429
>and send goons to put a bullet in my head to protect me from trading illegal memetokens?
no they don't care about you.

>>11773448
So what does it mean? Is it illegal for me to have Chainlink tokens? Will they confiscate them from Sergey? It seems like a nothingburger.

>>11773482
If it’s ruled a security you’ll at least have to pay higher taxes on gains. At worst, they’ll penalize you for buying in the first place. Small fry investors are not allowed to invest in securities.

>>11773634
what's the reasoning behind this legislation?

>>11773359
So you should be prepared for the worst.

Binance was already being invested in New York before I reported them.
https://twitter.com/newyorkstateag/status/1042102112182784001
>Based on the results of our report, we have also referred three platforms – Binance, http://Gate.io , and Kraken – to the New York State Department of Financial Services for possibly operating unlawfully in New York.

SEC
US based
literally who?
who gives a fuck about amerilardistan

>>11773634
Can they really pull this shit after the fact? I bought LINK in December.

>>11773928
>*seizes your domain*
heh, nothing personal kid

BTC-e.com was seized for laundering the Mt Gox funds and the USA wanted to extradite the Russian involved with it but failed.

https://twitter.com/blocktracecom/status/1042968282238799872
>@zaifdotjp got hacked for $38,784,136. Here is where the hacker sent the coins: 1FmwHh6pgkf4meCMoqo8fHH3GNRF571f9w Some of the #Bitcoin end up on @binance

>>11774132
You're not going to be forced to pay anything for buying. In fact, you may get back some money if you lost any.

From the press release today
>These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations. Both companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties.

The biggest concern is the fraudulent ICOs and the ones that refuse to cooperate with the SEC. Look up Centra which used to be on Binance.

Substratum is a fraudulent ICO on Binance yet to be charged. See the fake magazine cover, "second ICO", and how they "burn" tokens in this video
https://www.youtube.com/watch?v=qdeOXfvXAO0

>>11773928
Also

https://www.coindesk.com/iran-binance-crypto-bitcoin-mining-sanctions
>Binance Warns Iranian Traders to Withdraw Crypto Amid (((Sanctions)))

How exactly are these two any different from all the ICO tokens that are popular here, i.e., why did they go after them? Are they any moreso securities than popular tokens on this board? Airfox in particular sounds super unlike a security, other than the whole "all ICOs are securities" nonsense. This really bodes poorly for any other ico token.

>>11774586
They are not. That's why every ico from 2017+ is fucked.
Why do you think that the chairman of the sec said every ico he saw was a security?
Got to be retarded to still hold eth or ico shitcoins

>>11772934
uscuckshaveicbmtechandcanfuckuupwhereveruarm8

>>11774346
Ah so this really only affects total scamcoins. I'm sure Sergey and co have this shit all planned out. If it comes down to it they can just suck the fed cock since they haven't exit scammed and blown everything on lambo demo derbys.

>>11774586
Those were just two out of hundreds.

https://www.cnbc.com/2018/08/28/state-regulators-expand-operation-crypto-sweep-to-200-initial-coin-offeringinvestigations.html
>State regulators expand 'Operation Cryptosweep' to 200 initial coin offerings

That was from August. Could be at 400+ by now. You're not going to be sure about any particular token until it's too late.

>Airfox in particular sounds super unlike a security

See
https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11
Following the issuance of the 21(a) Report, certain market professionals have attempted to highlight utility characteristics of their proposed initial coin offerings in an effort to claim that their proposed tokens or coins are not securities. Many of these assertions appear to elevate form over substance. Merely calling a token a “utility” token or structuring it to provide some utility does not prevent the token from being a security.

>>11772926
>>11771658
>>11773313

this is some of the lowest tier fud I've seen in a while. Step it up. The absolute state.

What happens if LINK is listed as a security?

>>11775581
Delisted from any exchange that accepts burgers

The news is that the SEC is settling. They will adapt once ICOs start showing they will make the effort. Bullish on all fronts. Wake me up when someone is in jail though.

It doesn’t matter. I will be out of LINK before it gets high profile enough for the SEC to care. lrn2crypto