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0 sats \ 2 replies \ @grayruby 7 Oct 2024 \ parent \ on: Pro-Crypto Robinhood Exec in Running to Lead SEC If Trump Wins Election news
I am not trying to say Gensler good, SEC good, crypto bad. I am just trying to say that Gensler and the SEC being bad actors doesn't even come close to the level of bad acting in crypto.
You are absolutely correct regarding Chevron being overturned that it completely changes things but all these issues with crypto companies and projects were long before Chevron was overturned so they can't say well we were basing on courts deciding.
Congress should have fixed this issue years ago with new securities laws. Complain all you want about Howey (that's fair) but it's what's on the books.
Chances are when new securities laws do come the next wave of crypto projects will break them anyways and claim lack of "clarity". That's what bad actors do. They don't seek to follow the rules. They seek to steal as much as possible without getting punished for it.
hese issues with crypto companies and projects were long before Chevron was overturned so they can't say well we were basing on courts deciding.
If the SEC or anyone brings a case now it will fall under the current judicial understanding? Its like if you went to jail for even the smallest amount of pot and were sent to jail for 20 years and then the next month they overturned the ban on pot you still committed the crime.
The courts don't go back and say well you did this years ago and we though X was the standard so X applies its whatever the current understanding is. This is why I say it is a huge hole because I mean it is Chevron has now changed how these types of things will be brought before the courts.
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Agreed but the overturning of Chevron, while it might serve crypto interests well, doesn't justify their behaviour and not following the law for the past decade.
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