You gotta love the corruption of centralized systems; and their inability to come to terms with their corrupt ways of working.
Another brilliant example, of the so-called Securities and Exchange Commission, that is meant to “serve and protect”, yeah… right.
I mean, who gives a shit, right? Especially when you are trying to invoke your own rules across the border (that you made up in the first place), pretending to protect your poor citizens. Fuck, the reality kills. It is exactly this type of corruption from centralized entities that should bring out the pros of decentralization to light.
Look at this: https://www.sec.gov/litigation/admin/2019/33-10673.pdf
The guys are charging an overseas entity with a “fine”. In reality, they are openly asking for a bribe from another corrupted entity and saying “pay us, do something with the way you supply information and carry on deceiving people, we are O.K. with it”.
And I’m not even starting to elaborate the idea of taking money (well FIAT to be precise) and pretending to put it back into the hands of “cheated” investors.
A complete and utter disgrace.
On the bright side of things. They have, literally, cashed out BTC openly. So I like that.
According to certain informational resources, the entity has agreed to pay the bribe too. I mean why not. They have been deceiving people into spam for over a few years, earning way over those amounts.
God bless the system, I guess.