Former SEC head admits securities law is "intentionally broad and flexible". He also claims, "if you buy 1000 tickets for $10 and resell for $100 or $1000, then that's a security". Basically, the SEC can pick and choose securities. And worse, no way the t

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It's an interesting admission from the former SEC head Clayton that the securities laws are "intentionally broad and flexible". This is already a dubious point. When you have vague laws this means they can be applied to anything regulators choose to apply them to. There is an uncomfortable part about this such that we are at the whims of the regulators of whom they feel and choose to enforce laws upon, and who they don't, like perhaps the likes of BlackRock and others in big finance who have significant power and influence. Or, they can choose to enforce laws on certain projects precisely because they influence from big finance, perhaps to create better conditions for them to enter the market like lower prices. Just my opinion, right.

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The other side of this is that the "securities issuer" as the seller of tickers cannot even register, which many companies have complained about. Particularly, virtually every single crypto firm with US operations have at one point of another complained about extreme difficulty and outright impossibility in registering with the SEC. The most notable amongst these is Coinbase. Then if we follow the logic of former SEC head, if you buy and sell tickets that means you supposedly have to register with the SEC. Do you think that there is any way you will be able to do so as a simple individual, especially when massive companies can't? The law apparently make you a securities issuer, yet there are no provisions to allow you to register. Does this make sense?

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These laws were not made for cryptocurrency. In actuality, some have said crypto is more synonymous like baseball card trading and figurines and the like where enthusiasts trade where, when and at what prices they see fit, something securities laws do not apply to. But it's clear these securities laws simply do not work for crypto and actually leave crypto open to abuse of power on the whims of regulators.

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