The SEC told Coinbase “you need to delist every asset other than bitcoin. We believe every asset other than bitcoin is a security.
JUST IN – The SEC told Coinbase “you need to delist every asset other than bitcoin.”
“We believe every asset other than #bitcoin is a security.” pic.twitter.com/wlG6J6qew1
— Bitcoin Magazine (@BitcoinMagazine) July 31, 2023
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Technically, El Salvador treats it as a currency equal to their dollar based Salvadoran Peso or Colon: https://elsalvadorinfo.net/legal-currency-of-el-salvador/
So, this could put it under the agencies dealing with foreign currency exchange, I suppose. It’s interesting that the only other currency in El Salvador is based on the dollar. There might be some leverage there against using BTC too, if the U.S. wanted to attack BTC too.
Can any other cryptocurrency be used to buy anything directly, even marginally like BTC? Maybe Etherium?
Crypto has to stand alone with no regulation, including the exchanges, otherwise, I as a taxpayer, will be bailing people out that bet on tulipcoin.
The SEC saying that is complete trash. My [paranoid] opinion is that the people on top don’t want people on the lower rungs of the economic ladder to be able to quickly get ahead and get out of poverty, because they think that’s somehow bad for the economy. I will point to the “[paranoid]” part of this comment, though. 😉
But, if it *is* bad for the world economy, then maybe we need to rethink how our economies work.