On today’s show we are looking at crypto currencies. It should come as no surprise that governments the world over are not enthusiastic about having a grass roots competitor to official currency of the nation.
Since most of the world exists in the realm of fiat currencies, the most practical way into the world of crypto currencies is through a crypto exchange.
Is it a coincidence that the SEC is targeting crypto exchanges? We don’t know for sure, but today’s show is going to zero in on that question and postulate why there seems to be a war on crypto from regulators.
The SEC has targeted two of the largest crypto exchanges Binance and coinbase. Binance has 62.5% market share and coinbase has 5.4% market share.
The government doesn’t want to call crypto a currency. Legal tender is the legal tender of the United States or the European Union or whatever jurisdiction. If crypto currencies are not money, then what are they?
Now I’m not a lawyer, nor am I a securities lawyer. So I’m not qualified to comment on the merits of the case on either side. But it is clear that the SEC is arguing that securities laws apply to both Binance and Coinbase. If these are indeed securities, then securities laws would indeed apply.
So why is all of this happening, and why is it happening now?
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Host: Victor Menasce
email: podcast@victorjm.com