Versión en Español debajo/Spanish version below
Hello, today I come to talk about an interesting topic that happened a few days ago.
You may have heard all the fuss that has been caused by the lawsuit filed by the SEC.
If you don't know what I'm talking about, I'll give you a short summary.
The SEC has been attacking the cryptocurrency industry for the past few years.
A few days ago he did it again, this time suing mainly Coinbase and Binance for selling "securities" without special authorization.
But what kind of values are they referring to?
They are attacking cryptocurrencies considering them as "values", comparing them as if they were shares of a company, some property or that they grant governance.
Sounds ridiculous right?
The difference in considering a cryptocurrency as a "security" is basically due to the fact that these "securities" are strictly regulated, so operating with them without a special permit is considered illegal in the United States.
But let's face it, for them to come up with this ridiculous business is not normal.
SEC Named Cryptocurrency List:
- BNB
- BUSD
- SOL
- ADA
- MATIC
- FIL
- ATOM
- SAND
- MANA
- ALGO
- ASX
- COTI
Let's see something curious, first name this list by saying that all the cryptocurrencies that appear are values, but, didn't they just call them CRYPTOCURRENCIES? A cryptocurrency is a merchandise and cannot be merchandise and values at the same time.
It's like saying, the following cars are trains, it doesn't make sense.
They aren't even serious about these claims, and given how long they've been saying absurd things, could we be looking at malicious persecution?
Given that in recent years the SEC has not stopped suing, let's see what the US law says.
To be considered malicious persecution, the following causes must be met:
- Sue without probable cause
- Sue with malicious intent
- Sue to cause harm (reputation)
- That the damage exists and can be demonstrated
With these points clear, and before continuing with them, let's talk a little about who is the president of the SEC.
Gary Gensler is the current president, and since taking office in 2021, he has not stopped stepping up the fight against the entire industry.
"We don't need more digital currencies"
"We already have digital currency"
"It's called the US dollar. It's called the euro. It's called the yen. They're all digital now"
At this point, there are legislators who disagree with Gary Gensler and introduce legislation to remove him from his position as president.
"The US capital markets must be protected from a tyrannical president, including the current one. That is why I am introducing legislation to correct the ongoing abuse of power and ensure the protection that is in the best interest of the market in years to come. It's time for real reform and to fire Gary Gensler as SEC Chairman." -Warren Davidson.
The fear of some legislators is that Gary will stop the world's greatest economic innovation.
It may seem normal, but now comes the best.
- He worked in one of the most important banks in the world, Goldman Sachs. Curious, curious, since this bank in 2008 was an investment bank.
- Accused of manipulating the market, just before suing Coinbase and Binance placed a $2.5 million order to buy BTC on the downside. If this is proven, the use of privileged information is punishable by law and very severely.
- He was asked if he considers ETH a "value" before the House of Representatives and he refused to answer giving other answers, strange and curious.
But in 2018 he said that it is not a "value"
- He offered himself as an advisor in 2019, but can you imagine who? He offered himself as an adviser to BINANCE, but wait, aren't you suing them?
- Videos of him from two years ago praising ALGO have appeared, curiously now he considers it a "value"
- In 2018 when he was a teacher, we can see how he says that 75% of the crypto market is not considered "value", if not merchandise. But he decides to sue Coinbase and Binance for selling securities.
I leave the video here:
- Do you want to see even more hypocrisy? Just days before he became SEC chairman, Gary said that the SEC has no authority to regulate "cryptocurrencies."
- Another curious fact is that Coinbase formally requested a regulatory guideline on the digital asset sector to which the SEC did not respond, and some time later a court had to order to respond.
So, Coinbase doesn't want to follow the law or Gary doesn't want Coinbase follow the law?
According to Gary, and the example he gives about cryptocurrencies that offer governance, according to this gentleman's theory, buying Hive is the same as buying Apple shares. With this theory, if you have ever bought Hive on Binance, it has been illegally.
Although it is true that Hive does not appear in the mentioned list, it is simply due to the fact that it is not a well-known cryptocurrency worldwide.
But what if Gary decides to create a multi-million dollar order tomorrow to buy Hive for $0.1 and then decides to list it? I don't think many people decide to sell, but lowering the price for sure.
That is what he is mainly accused of manipulating the market to make money.
Now, back to the subject of malicious persecution, because if market manipulation is proven, malicious persecution would pretty much be another criminal charge.
- Sue without probable cause - his arguments are based on his opinion (although we have already seen that 2 years ago he thought otherwise) and are not based on real facts, therefore this point is fulfilled.
- Sue with malicious intent - although Gary is presumably acting in his favor, he knows the consequences and that implies malicious intent.
- Sue to cause damage - of course it has caused damage, both to the reputation of the defendants and to anyone who has cryptocurrencies and has seen their price drop due to the alleged market manipulation
- That the damage exists and can be demonstrated - it is obvious that the damage exists and 100% demonstrable if evidence of the alleged manipulation appears.
I have done my own investigation and this is the summary of the most notable, I would have liked to publish it the same day the events occurred, but I have decided to go more slowly and contrast information on various websites to maintain the most accurate information possible.
If you have reached this far, thank you very much and I would like to know your opinion in the comments.
Hola, hoy vengo a hablar de un tema interesante que sucedió hace unos dias.
Puede que hayas oído todo el revuelo que se ha causado con la demanda que ha puesto la SEC.
Si no sabes de lo que hablo, te haré un pequeño resumen.
La SEC ha estado durante los últimos años atacando al sector de las criptomonedas.
Hace unos días volvió a hacerlo, esta vez demandando principalmente a Coinbase y Binance por vender "valores" sin una autorización especial.
¿Pero que tipo de valores se refieren?
Están atacando a criptomonedas considerandolas como "valores", comparándolas como si fueras acciones de una empresa, alguna propiedad o que otorguen gobernanza.
¿Suena ridiculo verdad?
La diferencia de considerar, una criptomoneda como un "valor" se debe básicamente a que estos "valores" son estrictamente regulados, por lo que cual operar con ellos sin un permiso especial se considera ilegal en Estados Unidos.
Pero seamos sinceros, que salgan con este asunto ridículo no es normal.
La lista de criptomonedas nombrada por la SEC:
- BNB
- BUSD
- SOL
- ADA
- MATIC
- FIL
- ATOM
- SAND
- MANA
- ALGO
- ASX
- COTI
Veamos algo curioso, primero denomina esta lista diciendo que todas las criptomonedas que aparecen son valores, pero, ¿no acaban de denominarlas como CRIPTOMONEDAS? Una criptomoneda es una mercancia y no pueden ser mercancias y valores a la vez.
Es como decir, los siguientes coches son trenes, no tiene sentido.
No muestran ni seriedad con estas afirmaciones, y dado todo el tiempo que llevan diciendo cosas absurdas, ¿podríamos estar observando una persecución maliciosa?
Dado que en los ultimos años la SEC no ha parado de demandar, veamos que dice la ley de Estados Unidos.
Para ser considerado una persecución maliciosa se deben cumplir las siguientes causas:
- Demandar con falta de causa probable
- Demandar con intención maliciosa
- Demandar para causar daño (reputación)
- Que exista el daño y se pueda demostrar
Teniendo claros estos puntos, y antes de continuar con ellos, hablemos un poco de quien es el presidente de la SEC.
Gary Gensler es el actual presidente, y desde que asumió ese cargo en 2021, no ha parado de intensificar la lucha contra todo el sector.
"No necesitamos más monedas digitales"
"Ya tenemos moneda digital"
"Se llama dólar estadounidense. Se llama euro. Se llama yen. Todas son digitales ahora"
Llegados a este punto, hay legisladores que no están de acuerdo con Gary Gensler y presentan leyes para echarlo de su puesto de presidente.
"Los mercados de capitales de EE. UU. deben estar protegidos de un presidente tiránico, incluido el actual. Es por eso que estoy introduciendo una legislación para corregir el abuso de poder en curso y garantizar la protección que es lo mejor para el mercado en los años venideros. Es hora por una reforma real y despedir a Gary Gensler como presidente de la SEC." - Warren Davidson.
El miedo de algunos legisladores es que Gary llegue a detener la innovación económica mas grande del mundo.
Puede parecer algo normal, pero ahora viene lo mejor.
- Trabajó en uno de los bancos mas importantes del mundo, Golman Sachs. Curioso, curioso, ya que este banco en 2008 era un banco de inversión.
- Acusado de manipular el mercado, justo antes de demandar a Coinbase y Binance puso una orden de 2.5 millones de dolares para comprar BTC a la baja. Si esto se demuestra, el uso de información privilegiada es castigado por ley y de forma muy severa.
- Fué preguntado si considera ETH un "valor" ante la Cámara de los Representantes y se negó a contestar dando otras respuestas, raro y curioso.
Pero en 2018 dijo que no es un"valor"
Video:
- Se ofrecio como asesor en 2019, pero, ¿os imaginais a quien? Se ofreció como asesor a BINANCE, pero espera, ¿no los está demandando?
- Han aparecido videos suyos de hace dos años alabando ALGO, curiosamente ahora lo considera un "valor"
- En 2018 cuando era profesor, podemos observar como dice que el 75% del cripto mercado no se considera "valor", si no mercancias. Pero decide demandar a Coinbase y Binance por vender valores.
Te dejo el video por aquí:
- Quereis ver mas hipocresia aún? Pocos días antes de ser presidente de la SEC, el propio Gary dijo que la SEC no tiene autoridad para regular las "criptodivisas".
- Otro dato curioso es que Coinbase pidió formalmente una pauta reglamentaria sobre el sector de activos digitales a la cual la SEC no dio respuesta, y tiempo después un tribunal tuvo que ordenarle dar una respuesta a Coinbase.
Entonces, Coinbase no quiere cumplir la ley o Gary no quiere que Coinbase cumpla la ley?
Según dice Gary, y el ejemplo que pone sobre criptomonedas que ofrecen gobernanza, según la teoria de este señor, comprar Hive es lo mismo que comprar acciones de Apple. Con esta teoría si alguna vez has comprado Hive en Binance ha sido de manera ilegal.
Aunque es cierto que Hive no aparece en la lista mencionada, es simplemente por el hecho de que no es una criptomoneda muy conocida a nivel mundial.
¿Pero si Gary mañana decide crear una orden de muchos millones de dolares para comprar Hive en 0,1$ y después decide incluirla en la lista? No creo que mucha gente decida vender, pero hacerla bajar de precio, acabará bajando seguro.
De eso se le acusa principalmente, de manipular el mercado para ganar dinero.
Ahora bien, volvamos al tema de la persecución maliciosa, porque si se demuestra la manipulación del mercado, prácticamente la persecución maliciosa sería otro cargo criminal.
- Demandar con falta de causa probable - sus argumentos se basan en su opinión (aunque ya hemos visto que hace 2 años opinaba lo contrario) y no se basan en hechos reales, por tanto este punto si lo cumple.
- Demandar con intención maliciosa - aunque presuntamente Gary actua a su favor, sabe las consecuencias y eso implica una intención maliciosa.
- Demandar para/que causar/causen daño - desde luego que ha causado daño, tanto a la reputación de los demandados y a todo aquel que tenga criptomonedas y ha visto bajar su precio por la presunta manipulacion de mercado
- Que exista el daño y se pueda demostrar - es obvio que existe el daño y 100% demostrable si aparecen las pruebas de la supuesta manipulación.
He hecho mi propia investigación y este es el resumen de lo mas destacable, me hubiera gustado sacarlo el mismo día que ocurrieron los hechos, pero he decidido ir mas despacio y contrastando informacion en varios sitios webs para mantener la información mas veraz posible.
Si has llegado hasta aquí, muchas gracias y me gustaría saber tu opinión en los comentarios.
Crypto you mentioned in your article are some of the most famous donno why sec sucks that all.
Yay! 🤗
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