dereulenspiegel
@dereulenspiegel.bsky.social
He/Him Testing out BlueSky. I usually talk about beer, technology and bike infrastructure. Posts are usually in german or english.
Reposted by dereulenspiegel
pretty remarkable to see Coinbase making the argument that crypto is not like stocks, it's like baseball cards, American Girl dolls, or Beanie Babies
it's the future of finance! except when the SEC comes knocking, then it's just a harmless little toy, your honor
it's the future of finance! except when the SEC comes knocking, then it's just a harmless little toy, your honor
![So for example: one can invest in a baseball or other trading card company, through an instrument that imposes obligations on the company, and that will be a security. Or one can buy baseball cards on the open market, hoping they appreciate in value, and one will have bought a commodity. That remains true even if the company makes representations about plans to create a premier card trading platform, to drive up the value of the cards it sells. Those representations can’t turn baseball cards into securities. Baseball cards are not “shares in the [baseball card] enterprise.” Howey, 328 U.S. at 299.](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:exrxvyu6bpoym6mbnctke5tn/bafkreicomcud2xhmtsnks3i62ubsz5rsztjjt7bbloieig46n42o7znhi4@jpeg)
August 6, 2023 at 4:18 PM
pretty remarkable to see Coinbase making the argument that crypto is not like stocks, it's like baseball cards, American Girl dolls, or Beanie Babies
it's the future of finance! except when the SEC comes knocking, then it's just a harmless little toy, your honor
it's the future of finance! except when the SEC comes knocking, then it's just a harmless little toy, your honor