Trying to Think like the SEC (Feat. John Reed Stark)
Crypto Critics' Corner
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Can You Be Here Because Prime Bank Notes Are Not Securities?
The chicago housing authority actually invested, i think, four or five million in prime bank notes. And when it went to court, this is what you love, bennet, because it's very similar to what cripto, a cripto currency defendet, would say. They went to court and they said, you can't be here because prime bank notes are not securities. They're fictional. So the judge said, very interestingly, it doesn't even matter if they're fictional. If they were real, what they're purported to be would be a security. The jurisdiction then, it's always there,. It's just a matter of pushing it.
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