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Started By
Message
Known fraudster Saylor pleads for government regulation in crypto space
Posted on 6/20/22 at 1:52 pm
Posted on 6/20/22 at 1:52 pm
quote:
Michael Saylor urges governments to step in and regulate crypto’s ‘parade of horribles’
quote:
Microstrategy CEO Michael Saylor argues the over 19,000 cryptocurrencies and digital tokens in circulation must be viewed as “unregistered securities”
quote:
He added mainstream financial institutions often won’t touch an asset like Bitcoin “because of the slime that gets onto the asset class from all the unregistered securities."
Fortune article
Things must be getting warm over at Microstrategy for him to ask the government for help.
4
Posted on 6/20/22 at 1:54 pm to UltimaParadox
r/buttcoin is probably one of your favorite subreddits.
Posted on 6/20/22 at 2:39 pm to UltimaParadox
quote:Is he wrong?
Microstrategy CEO Michael Saylor argues the over 19,000 cryptocurrencies and digital tokens in circulation must be viewed as “unregistered securities”
Posted on 6/20/22 at 3:14 pm to Ross
(no message)
This post was edited on 8/26/22 at 4:15 pm
Posted on 6/20/22 at 3:21 pm to Ross
quote:
r/buttcoin is probably one of your favorite subreddits.
Lol it will be now . Thanks
Posted on 6/20/22 at 3:31 pm to UltimaParadox
Pleads, eh? 
Posted on 6/20/22 at 3:37 pm to UltimaParadox
quote:
Michael Saylor urges governments to step in and regulate crypto
Wait, isn't that the point of DeFi? Less regulation?
Posted on 6/20/22 at 4:08 pm to Grievous Angel
Saylor isn’t a fan of DeFi. He views those tokens as securities subject to regulation by the SEC.
Posted on 6/20/22 at 5:45 pm to Grievous Angel
quote:He hates Defi
Wait, isn't that the point of DeFi? Less regulation?
Posted on 6/20/22 at 6:19 pm to TigerTatorTots
They talk about Saylor but they don’t know anything about him.
Posted on 6/20/22 at 7:15 pm to TigerTatorTots
quote:
Is he wrong?
Can the pass the Howey test? Bitcoin and ethereum didn't.
Posted on 6/20/22 at 7:42 pm to TigerintheNO
quote:Head of the SEC already said bitcoin did tho? ETH definitely does not
Can the pass the Howey test? Bitcoin and ethereum didn't.
This post was edited on 6/20/22 at 7:43 pm
Posted on 6/20/22 at 7:55 pm to TigerTatorTots
the last two chairman said no bitcoin wasn't,
BTC only passed the first of the 4 parts
quote:
SEC Chair Gary Gensler has long argued that many cryptocurrencies are subject to regulation as securities. But he recently clarified that this view wouldn’t apply to the best-known cryptocurrency, bitcoin.
quote:
The chairman also addressed a growing debate over which cryptocurrencies should fall under SEC jurisdiction.
“Cryptocurrencies: These are replacements for sovereign currencies, replace the dollar, the euro, the yen with bitcoin,” Clayton said. “That type of currency is not a security.”
quote:
A cryptocurrency like Bitcoin doesn’t pass the Howey Test. While Bitcoin meets the test’s first prong, it doesn’t satisfy the second and third elements. With Bitcoin, there is no common enterprise where investors are pooling their funds, there’s no promoter or issuer, and an investor’s success isn’t reliant on the efforts of others.
BTC only passed the first of the 4 parts
Posted on 6/27/22 at 9:55 am to TigerintheNO
Can something pass the Howey test and be a commodity at the same time?
quote:
Preston Pysh
@PrestonPysh
·
1h
"Bitcoin is the only one I'm willing to say is a commodity" -
@GaryGensler
on CNBC this morning.
This post was edited on 6/27/22 at 10:58 am
Posted on 6/27/22 at 10:27 am to TigerTatorTots
quote:
Can something fail the Howey test and be a commodity at the same time?
Yes.
You want Bitcoin to fail the Howey test or else it becomes a security.
Posted on 6/27/22 at 10:54 am to slackster
Lol yes I mixed the wording- should have read “can it pass”
This post was edited on 6/27/22 at 10:56 am
Posted on 6/27/22 at 11:17 am to TigerintheNO
Bitcoin only.
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