Hacker News Reader

Comment by ascendantlogic | Hacker News Reader

At some point someone has to explain to you what law you broke and how you broke it. We'll see how this goes for the SEC. I'm not convinced they're going to end up on the winning side with these vague enforcement lawsuits substituting for policy/law from the legislative branch.

View on HN

> At some point someone has to explain to you what law you broke and how you broke it

The link at the top of this page is 90 pages of the SEC telling Kraken what rules and regulations they have broken. It is certainly possible the court will disagree with the SEC, but I wouldnt bet on it.

>It is certainly possible the court will disagree with the SEC, but I wouldnt bet on it.

I would (not a lot, but I would). They lost on the Grayscale trust, they lost on XRP being a security (extremely relevant here), they're seemingly settling with Binance... the court has been disagreeing with the SEC a whole lot on the matter of blockchain regulation lately.

"At some point someone has to explain to you what law you broke and how you broke it. "

Yes, that would be what the SEC is doing right now by initiating enforcement actions.

More to a judge or jury than to you exactly, but yeah they'll have to do that. I don't personally have a lot of doubt in their abilities to do so, but I'm very much not a lawyer. Just the legal system tends to be unsympathetic to hacker technicalities that us techies like.

Reply on news.ycombinator.com