What Needs To Be Learned From The SEC vs Coinbase/Binance Lawsuits

As you know the SEC is going all out yet again. Large lawsuits have now been filed by the SEC attacking Coinbase and Binance saying they operated unregulated securities.

Yet let's be clear there still is nothing say what crypto or cryptocurries are a security and what ones are not. It's clarity that everyone's been after for a very long time now. If you ask them all you get back is a weird non yes or no answer. If it was so clear the SEC chairman would be able to simply say yes this token is a security. Yet That Never Happens!

I think coinbase going into a lawsuit with the SEC is the right move as a large company like that actully has the funds and man power to be able to go up against the SEC. While the house has also been trying to keep the SEC in check stating clearly that the house has never passed laws on cryptocurrency yet to even give them authority to do such a thing.

Binance maybe I can understand that one which might be a losing battle. However Coinbase a registered USA company that has been working with the SEC, asking questions and clarity and even applied and successful got accepted to be a traded company on the New York stock exchange now that. That right there should be a loss for the SEC and I really hope that's going to be the case.

The coinbase trial is for sure going to be one to watch. It's pretty much the SEC chairmans big victory he's looking for. A victory for the SEC would be drastic hammering on the crypto markets at which point either everyone has to fall in line, pay fines or ship out. That would drive pretty much a large portion of business out of the USA at first. However it could open up more in line investments in which could see crypto pump even more since there would finally be real laws and regulation to follow in which you wont have to worry about being fined and sued over later which would also still skyrocket the price of crypto but take a few more years.

The alternative is the SEC losses the case it would hopefully mean the attacks would stop on crypto however I don't think that would be the case and every company would simply constantly be attacked by the SEC instead of doing what they should be doing.

In either case it's going to most likely be at least a year if not longer. The XRP case has been going on for nearly four years now. Which was started back in 2020 by the SEC saying the sold a unregistered security in 2012. It's pretty wild how old of cases with no laws at the time can become a thing later on and honestly these cases IMO should be dismissed. If anything what's happening is we are finally looking for clarity of which we most likely still wont get and that's mainly because of two critical parts.

The first being rules and regulations don't exist for crypto. The second it throws the traditional system out and they lose power. Instead power is returned to the people so when you think your government and the SEC etc have you in your best interests I hate to tell you that's not the case anymore and hasn't been for a while.

What we have to learn from all of this is that you need to look out for yourself. Less reliance on government is better for YOU and for ALL!

Posted Using LeoFinance Alpha