![]() ![]() Hinman’s speech was considered by many in the industry to be a regulatory guidepost, laying out ways that a token that was launched as a security could later be considered not a security. For one thing, the suit appears to distance the agency from a 2018 speech by then-SEC Director of the Division of Corporation Finance Bill Hinman, said Meghan Spillane, a partner at the law firm Goodwin Procter and an expert on litigation and digital assets. The previous chairman, Jay Clayton, for example, said he felt that most ICOs looked like securities, and Gary Gensler, the current chair, has said that most tokens are likely securities.īut there are some notable new points of emphasis in the case against the former Coinbase employee. SEC officials have previously made statements that align with the agency’s claims in the current case. As a result, cryptocurrency firms, exchanges and traders have been operating for years in a legal fog. But the agency has thus far shied away from issuing a clear definition of what criteria are used to determine whether or not a token is a security. The SEC has far-reaching legal authority over how stocks and other securities are traded, as well as who is allowed to buy and sell them. The case cuts to the heart of what’s long been a huge source of uncertainty in the crypto industry. In this case, however, Coinbase says the nine tokens – seven of which trade on Coinbase - aren’t securities. When Ripple was sued by the SEC in late 2020, for example, Coinbase chose to suspend trading the token rather than risk drawing scrutiny from federal regulators. If a judge agrees with the SEC’s argument, many other similar tokens could be deemed securities - and the companies that trade them could be forced to be regulated as securities exchanges. Right? because this project will probably 40x or more not in an hour or day it will be in time (Years).Īlso guys we have maybe 2 - 4 million volume in a day when we hit 5c that was with 36m volume even if you buy there please understand that most projects have hundreds of millions of trading volume or a few billion.When the SEC accused a former Coinbase employee of insider trading last month, it specifically named nine cryptocurrencies as securities, potentially opening the door to regulation for the rest of the industry. This isn't gambling, now I'm not here to rain on the party but I feel like it can disappoint new members. It's an investment it takes time to grow. The last Con isn't to do with Flexa it's with us the community, let me state again love you guys! you have all been fantastic but this idea that randomly we will moon to a dollar is great but needs to be chilled out on. (Because it has a lot of utility) To be on CyrptosRUs channel and him being bullish on AMP is huge! I would love to see Flexa really involve the Crypto community more, promote channels that support the project. But every project needs hype! all do! Big Crypto Youtubers have talked about Flexa actually a lot tbh. If AMP just sitting around it completely defeats the purpose of the project.Īlso Flexa is very reserved with what they release to the public, that's great. I'm not greedy but we need stakers to feel like staking is worth it. (Aave I think is 6.36APY and if you BPT your Aave it's over double that APY). The APY is 4.79 which is great but there are a ton of Defi projects offering better APY rates that offset the gas fees. Love the community and Flexa, I have 30% of my portfolio staked within Flexa capacity, pushing that to 40% over the upcoming months.īut my number 1 con is staking it cost a lot in gas fee's you have to be okay with the fact that it will take roughly 4 months or more for you to earn back what you spent to just stake it. ![]()
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