finance-and-aviation3.67 min read The Erosion of Rule of Law in Finance and Aviation.
The SEC has sent a 'Wells Notice' to Coinbase, indicating that the SEC is likely to bring an enforcement action against the crypto exchange. The SEC has decided that crypto exchanges are illegal and that crypto staking is a security that requires registration, but the SEC hasn't allowed registration. This is an example of 'regulation by enforcement action.' The airline industry has also seen similar issues with anti-trust enforcement, such as the Department of Justice suing to unwind the American Airlines alliance with JetBlue. The government has used the anti-trust process to wring concessions that aren't competition-related, and the law is what they say it is at any given time.
2 years ago•Source: View from the Wing
