Spencer on Nostr: The fact that the SEC has been blatantly breaking the law for years by rejecting a ...
The fact that the SEC has been blatantly breaking the law for years by rejecting a spot Bitcoin ETF, and bitcoiners are celebrating today's tiny court victory that still doesn't even fix the problem, is pretty powerful testament to how broken the system really is.
I know everybody's excited about the SEC losing in court, and it is indeed an important victory, but it's worth bearing in mind that Gensler knew he was acting outside the law long before the verdict. The largest institutions care less about what is legal than what they can get away with.
Given how long it takes the courts to rule, it is a reminder that in the context of the government's own misconduct, there are limits to the utility of law.
Published at
2023-08-30 00:07:01Event JSON
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