How the Grinch Tried To Steal Coinbase’s Right To Operate
TL;DR
ICYMI: the SEC is suing Coinbase. It wants to have control over which crypto tokens Coinbase can/can't sell.
As a result, Coinbase has written a strongly worded letter to the judge, outlining why the SEC has no legal jurisdiction over its business.
Full Story
Back when we were about 8 years old, we convinced our buddy's younger brother that Santa had put us in charge of choosing his Christmas presents.
...and that as a group, we'd decided he wasn't getting anything that year.
The crazy part was:
As a four year-old, he didn't throw a tantrum. Instead, he calmly walked to his arts n' crafts corner and wrote Santa a strongly worded letter (in bold red crayon).
Why the trip down memory lane? Well, because:
This story has eery parallels with latest news from the SEC vs. Coinbase lawsuit.
Securities law is boring as hell, and any extra spice that can be added to an article on the topic, should be.
So, ICYMI: the SEC is suing Coinbase.
It wants to have control over what presents Coinbase gets for Christmas which crypto tokens Coinbase can/can't sell.
As a result, Coinbase has written a strongly worded letter to Santa the judge, outlining why (given its good behavior over the past year) it deserves all the Christmas presents in the world the SEC has no legal jurisdiction over which cryptocurrencies it sells.
Alright, that's it. That's where the case is at.
Now you know!