ICYMI. The SEC continues trying to corral crypto. It's time to climb aboard this angry bull and see what went down this week. 👇
‼️BREAKING: SEC sues @stablekwon and Terraform Labs for defrauding investors. This lawsuit alleges that LUNA and UST (stablecoin) are securities and could set a pathway for going after other stablecoins. @lex_node digs in deeper 👇
nitter.cf/lex_node/status/162634…
whew lad, lots to digest in the SEC lawsuit vs Do Kwon and Terraform Labs
right off the bat, a very interesting fact is that the SEC is being more thorough than usual--specifically running through the Howey test for various assets (UST, LUNA, and wLUNA) and also alleging that mAssets are securities-based swaps (which will be no surprise to people who have followed me for a while--have warned repeatedly about synths potentially being swaps)
will post more notes here as I read through the complaint
The SEC has opened the fud gates. Giddy up, regulators, let's see if you can last eight seconds on this bucking crypto bronco! 🐂
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Paxos accused of selling unregistered securities by SEC and ordered to stop minting $BUSD by NYDSF. This latest regulatory stranglehold feels like a tired attempt to close on- and off-ramps to crypto. More on the state of stablecoins:
nitter.cf/Delphi_Digital/status/…
The SEC has alleged that $BUSD is an unregistered security.
Following the news, the NYDFS directed the issuer of BUSD (Paxos) to stop issuing BUSD tokens.
The stablecoin market is heating up, here's some quick data that shows what's going on 🧵⬇️
SEC's recent proposal leverages the investor advisory custody rule to rope in even non-security crypto assets, exchanges, and custodians within its regulatory authority – making it tough for U.S. investors to fund crypto companies.
nitter.cf/jchervinsky/status/162…
5/ If you've participated in a party bid, 🔎 find out if you have any coin to claim.
@rob_0x provides an ez walkthrough on how to do this 👇
nitter.cf/rob_0x/status/16153826…
6/ Always know the state of your party bids and more. Join the @yozlabs discord to get notifications today‼️
🤝 discord.com/invite/D2x3Uz5je…
3/ But rn, there is no notification mechanism to alert parties of any on-chain events or activities. To stay informed of a party's activity, contributors need to refresh the dapp, or check Etherscan, Discord or Twitter.
4/ Projects integrated with @yozlabs notifications eliminate these friction pts. When parties expire, contributors receive an alert, indicating there may be 💰💰 to reclaim.
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