Coinbase Warned By SEC of Potential Securities Charges (cnbc.com) 26
The Securities and Exchange Commission issued crypto exchange Coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. CNBC reports: "Based on discussions with the Staff, the Company believes these potential enforcement actions would relate to aspects of the Company's spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet," Coinbase said in a regulatory filing. "The potential civil action may seek injunctive relief, disgorgement, and civil penalties."
Coinbase described the investigation as "cursory," and said the Wells notice provided relatively little information about potential violations. "Although we don't take this development lightly, we are very confident in the way we run our business -- the same business we presented to the SEC in order for us to become a public company in 2021," Coinbase Chief Legal Officer Paul Grewal said in a blog post. The company said that until the resolution of any legal processes, the exchange's offerings would continue to operate as usual.
Coinbase described the investigation as "cursory," and said the Wells notice provided relatively little information about potential violations. "Although we don't take this development lightly, we are very confident in the way we run our business -- the same business we presented to the SEC in order for us to become a public company in 2021," Coinbase Chief Legal Officer Paul Grewal said in a blog post. The company said that until the resolution of any legal processes, the exchange's offerings would continue to operate as usual.
Well I sure wish I could commit lots of crime (Score:1)
Pretty sure if I stole the grape from a grocery store they nailed my ass to the wall.
Which common men? (Score:1)
And the Democrats will nail your ass to the wall just like the Republicans will because if you go against a tough on crime narrative guys like you scare the shit out of the independent voters and then we get radical extremists running everything.
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If you're talking about those people caught on camera shoplifting they eventually get caught and thrown in jail for very long times. The news media doesn't cover when they're caught because that doesn't scare you like the videos showing them doing that will.
I don't believe you about the media. Unless you are talking about corporate media, which is censored and controlled. If these people were actually arrested and not basically immediately released there would be video evidence of it. Please cite your facts.
You can believe whatever you want (Score:2)
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If you're talking about those people caught on camera shoplifting they eventually get caught and thrown in jail for very long times. The news media doesn't cover when they're caught because that doesn't scare you like the videos showing them doing that will.
Uh huh. Tell me another bedtime story while I tell you about the reality of liberal prosecutors who think we shouldn't even punish criminals IF and when they actually are caught and arrested. Masks have always been very effective. Not just when we want to pretend a recycled t-shirt tied around a vacuum bag is an acceptable alternative to work in an infectious disease lab.
I think we can stop pretending now. You sure as hell don't find this behavior being tolerated at the store level or the legal level ou
Liberal prosecutors? (Score:2)
I mean I guess if you mean liberal as a libertarian but most of those guys just want to smoke weed and bang 16-year-olds.
And liberal run cities? I don't know what country you're in but here in America we don't have any of those. We have a handful of center right politicians running cities. Nothing that would even come close to a liberal.
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You want to know how to identify a liberal? They're the ones too embarrassed or offended to actually call themselves that.
Yeah, I know. It's quite ironic. I use the term liberal because I don't want to demonize every Democrat, but if you would prefer I be accurate, there you go. Democrat run cities suffer from this shit. Prove otherwise, or stop with the I-see-nothing game.
Re-defining words to cater to feelings has gotten beyond dangerous at this point. Words matter. [youtube.com] So do facts.
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Pretty sure if you walked into a grocery store in a Democrat-run liberal state in the US, you could steal hundreds of dollars worth of shit and they wouldn't do a damn thing to you.
You have clearly not seen the loss prevention videos that have leaked from Target. Heck, the store near me usually has this tiny twink of a guy working front door security specifically so criminals think they can fuck around and find out. Turns out that harmless looking young guy has this device called a "walkie-talkie" and it's for calling in the built like a brick shithouse loss prevention employee who will show up to end your entire criminal career.
As for Walmart, well, the ones near me have a dedicate
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Pretty sure if you walked into a grocery store in a Democrat-run liberal state in the US, you could steal hundreds of dollars worth of shit and they wouldn't do a damn thing to you.
You have clearly not seen the loss prevention videos that have leaked from Target. Heck, the store near me usually has this tiny twink of a guy working front door security specifically so criminals think they can fuck around and find out. Turns out that harmless looking young guy has this device called a "walkie-talkie" and it's for calling in the built like a brick shithouse loss prevention employee who will show up to end your entire criminal career.
Really? Please send me proof of this. Along with a copy of the Target corporate policy that allows the brick shithouse to prove why you hired a brick shithouse. Parents can't even spank their children anymore without the threat of a 10-year old brat calling CPS. You expect me to believe Target is gonna support real violence to stop some shirts and shoes flying out the door? Please. If the thief was stealing your shit in the parking lot, you can't even legally draw a gun to prevent it.
As for Walmart, well, the ones near me have a dedicated parking space for law enforcement and a special room near the entrance specifically for detaining shoplifters. They don't mess around. I've seen more than my share of perp walks while going to stock up on Sam's Club Coke Zero Substitute (or whatever it's actually called).
Speaking of don't
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Maybe the context of that I'm talking about Florida makes it clearer. This is a state where, until the courts struck it down, it was actually legal to run over protesters who are blocking a roadway. LEOs here don't give a fuck if the loss prevention guy has to do a little hands on work to make sure the cops have a suspect to arrest when they arrive.
Florida gets a lot of things wrong, but when it comes to crime they don't screw around. This is not a good state to come to if you don't plan on behaving as a
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Florida gets a lot of things wrong, but when it comes to crime they don't screw around. This is not a good state to come to if you don't plan on behaving as a civilized member of society.
Fair point. I'm well aware of how Sheriff Grady Judd doesn't fuck around. Quite frankly, Florida is doing a hell of a lot more right than wrong. Always has in my opinion. It's why more and more are moving there. I'll bet WalMart opens even more stores there.
If other states keep placating crime, they'll find even the billionaires they're so desperate to keep won't stay. They'll happily pay an exit tax. Some things are not worth the headache no matter how good the weather is.
Re:Well I sure wish I could commit lots of crime (Score:5, Insightful)
I was about to post the same thing, but you beat me to it.
Corporations commit crimes, they settle, then do it again, then settle... Even when they're found guilty of the most egregious crimes, nobody ever spends a single minutes in the pokey.
Corporations don't pay their taxes. They "reach an agreement" with the IRS and agree to pay a teeny bit more...
Corporations get nice warning before they get charged for securities violations...
Aren't corporations supposed to be people? Funny how these people are treated different from the rest of us. When I commit a crime, the cops bust into my house and arrest me. They sure don't warn me in advance. If I don't pay my taxes, I don't get to strike a deal with the taxman: he just issues a warrant on my ass.
Re:Well I sure wish I could commit lots of crime (Score:5, Insightful)
If you think having an unregulated economy is a scam, then it would die naturally as people wise up to their own greed.
That would be the old "Let the market sort it out". The problem with that idea is that it's been tried and it failed. In fact it spent the whole of the 19th century failing, sometimes so badly that people starved in the streets.
It got so bad after the 1929 crash that the world collectively decided to regulate our various economies to stop it happening again.
Feel free to debate how we go about regulating things, but you should be aware that 100% of unregulated investments fail.
If the crypto people want to pretend they're offering investments they're going to have to accept regulation.
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Regulation is definitely needed, but the problem is that the SEC doesn't understand cryptocurrency enough to regulate it properly. The biggest issue is that they've started treating everything not named "Bitcoin" as a security, when they're really all just digital commodities. The closest real-world analogy would be trading in a metal which has absolutely no industrial use whatsoever.