Hold on. So Gensler claims BUSD and BNB are securities in their lawsuit, while the CFTC claims they are commodities in their ongoing lawsuit filed only weeks ago. And Gensler claims “regulations are clear”…
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However, in sharp contrast and opposition, the SEC claims they are commodities in their new lawsuit.. in the SEC and CFTC. Only several weeks ago were Binance sued by the CFTC. In this suit, the CFTC claimed that BUSD and BNB were commodites.
However, in sharp contrast and opposition, the SEC claims they are commodities in their new lawsuit.
So the CFTC and SEC stand in sharp contrast and opposition to each other. Further, these are allegations occurring in two separate and simultaneous lawsuits. I suppose the legal process would decide who comes out as correct and the decision would have an immediate effect on the other case. This one will certainly be interesting.
More importantly, there facts are rather curious. Is this what Gary means when he says “The rules are clear”?
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