Cryptocurrency market today SEC-Coinbase focused on his case. At this point, as the trial began, the first statements began to come.
Fox Business correspondent Eleanor Terrett In his post, the judge presiding over the case asked the SEC lawyer whether Bitcoin was “an effective currency because it replaces fiat.”
SEC lawyer who avoids giving a clear answer to this question BitcoinStating that is different from other cryptocurrencies, he said:
“Bitcoin is different from other cryptos.
What makes Bitcoin different is that it does not have an ecosystem, whereas this is different from other tokens.
Because when you buy a different token, you buy their entire ecosystem and the entire incentive.”
When Judge Failla asked the SEC lawyer whether #Bitcoin was “effectively currency as it is a replacement for fiat” he avoided a direct answer and answered “What makes Bitcoin different is that it does not have an ecosystem whereas when you buy these other tokens you buy their…
— Eleanor Terrett (@EleanorTerrett) January 17, 2024
The SEC attorney also noted that the SEC does not control all cryptocurrencies on Coinbase. He said Bitcoin is the only asset among the tokens on Coinbase that is not a security.
*This is not investment advice.
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