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/biz/ - Business & Finance

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52302809 No.52302809 [Reply] [Original]

All right, /biz/

Here's my question: is the US going to ban crypto currencies because they are "securities"?

Should we expect the SEC to basically set the USA and it's citizens back decades, financially speaking?

>> No.52302824
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52302824

Stock niggers and boomer crack rockers need not to reply.

>> No.52302841

>>52302809
no lol Gary Gensler is politically disfavored and on his way out

>> No.52302866

>>52302809
>is the US going to ban crypto currencies because they are "securities"?

No, though it will go after any coins that did ICOs and pass the Howley test. It'll certainly kill a lot of the market, but the survivors will be extremely strong

>> No.52302869

I'm a millionaire in NW thanks to a having a substantial stake in crypto. If crypto is banned and I'm not able to cash out in the future, I will literally kms.

>> No.52302882
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52302882

>>52302841
I am completely out of the loop and I probably have a smooth brain on this subject.

Anon, spare me a brief explanation why?

Onegai~

>> No.52302911
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52302911

>>52302866
Would Ethereum or some other smart contract enabled crypto be "safe" against this lizard, though?

That is my biggest concern, to be honest.

We need smart contracts, that's so good...
We just need that, period.

>> No.52302961

if the jews could shut down bitcorn, they would have done it. the only thing they haven't done and the only thing ((they)) can do is throw up in concentration camps

>> No.52302982

>>52302911
ETH did an ICO, there's always potential for it to be in the SEC's sights. How aggressive the SEC will be will probably depend on how they do against XRP in court early next year. If they win it'll probably set precedent to go open season on any cryptos they would deem unregistered securities. Who knows, ETH might be a too big to fail situation and they avoid touching it.

There are some smart contract blockchains that do exist that didn't do an ICO and did everything possible to follow US law in the creation of their project, so those types of projects can still survive (and still be tradable on US-based exchanges). One of them that I've got some confidence in did their own premine like all these others, but they avoided selling any of it and won't even touch it until they become a public company and get full clarification on how they can use it (for example lending or giving out coin dividends to stock holders)

>> No.52302999
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52302999

>>52302809
He is a BTC maxi

>> No.52303027

>>52302982
Ok, that's a relief.

Why would the US government allow the SEC to go after crypto in the start of a financial crisis, anyway?

Makes no sense to me, at all.

>> No.52303033

>>52302882
basically neither Democrats nor Republicans are happy with the job Gensler is doing (he's supposed to create regulatory clarity instead of vague statements and regulation-through-enforcement) and currently Rostin Behnam (CFTC chair) is politically favored instead of Gensler. Behnam is viewed as having more favorable views on crypto regulations.

>> No.52303092

>>52303027
>Why would the US government allow the SEC to go after crypto in the start of a financial crisis, anyway?
It's not like crypto is actually a large and relevant market right now. No large corporations or governments do work on blockchain, and until (if) that time comes it'll have after full regulatory clarity that'll hopefully come at the tail end of all these lawsuits versus the SEC

>> No.52303210

Why are they afraid to be labeled securities? Surely they are viable business providing a valuable product which promises growth! Not a kiddie casino where line goez up!

>> No.52303215

>>52303033
>>52303092
Ok, that does sounds good.

When would that lizard faggot get out of office, though?

He literally dragged my favorite platform through the mud for years.

Look at what they did to my boy...

>> No.52303223

>>52303210
I just don't know, to be honest.

It's some weird American cope law or some shit.

>Imagine thinking you can have protection from financial bad decisions

Literally do not invest and just work for the rest of your life, if you don't like risk.

And even that isn't risk-proof, either.