TL;DR
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ICYMI: The SEC is suing Coinbase. It wants to control which crypto tokens Coinbase can/cannot sell.
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As a result, Coinbase has written a strongly worded letter to the court outlining why the SEC has no legal jurisdiction over its activities.
Full story
When we were about 8 years old, we convinced our friend’s younger brother that Santa had put us in charge of choosing his Christmas presents.
…and that we had decided as a group that he wouldn’t get anything that year.
The crazy thing was:
As a four year old, he didn’t throw a tantrum. Instead, he calmly walked over to his arts and crafts corner and wrote Santa a strongly worded letter (in in bold red chalk).
Why the trip down memory lane? Well, because:
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This story has eerie parallels to the latest news from the SEC vs. Coinbase lawsuit.
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Securities law is boring as hell, and any extra pizzazz that can be added to an article on the subject should be.
So, ICYMI: The SEC is suing Coinbase.
It wants to control it what gifts Coinbase gets for Christmas which crypto tokens Coinbase can/cannot sell.
As a result, Coinbase has written a strongly worded letter to Santa the judge and explains why (given his good behavior over the past year) he deserves all the Christmas presents in the world the SEC has no legal jurisdiction over which cryptocurrencies it sells.
OK, that’s it. Therein lies the matter.
Now you know it!