Dogecoin

<ul><li>Elon Musk and Dogecoin co-creator Billy Markus question the SEC&#39;s stance that cryptocurrencies lack &#34;innate or inherent value.&#34;</li><li>The SEC&#39;s argument against Coinbase extends beyond the &#34;Howey Test,&#34; emphasizing the flexible interpretation of federal securities laws.</li><li>The SEC is also in a separate legal dispute with Elon Musk over his Twitter stock acquisition, adding another layer to the agency&#39;s scrutiny of high-profile tech figures.</li></ul>A spirited exchange on social media between Dogecoin co-creator Billy Markus and Tesla CEO Elon Musk has reignited discussions about the intrinsic value of cryptocurrencies. The dialogue, which unfolded on October 9, 2023, comes in the wake of a contentious claim by the U.S. Securities and Exchange Commission (SEC) that digital currencies lack &#34;<a href="https://www.reddit.com/r/ethtrader/comments/173dlmn/crypto_has_no_innate_or_inherent_value_sec_argues/" rel="noopener noreferrer nofollow">innate or inherent value.</a>&#34; Critiquing the regulator, the dogecoin co-founder wrote on X,Billy Markus, also known by his online pseudonym Shibetoshi Nakamoto, took to social media to challenge the SEC&#39;s position. His post, which questioned the agency&#39;s logic given the taxes he&#39;s paid on cryptocurrency, quickly gained traction and became a focal point of discussion.Elon Musk also weighed in on the issue,<a href="https://x.com/elonmusk/status/1711214915317289274?s&#61;20" rel="noopener noreferrer nofollow"> questioning</a> the SEC&#39;s logic. He asked, &#34;It’s real if you have to pay taxes, but otherwise not real?&#34;.This public discourse serves as a backdrop to the SEC&#39;s ongoing legal battle with Coinbase, one of the leading cryptocurrency exchanges. The SEC has argued that cryptocurrencies should be considered securities, invoking not only the <a href="https://cryptotale.org/crypto-community-debates-howey-tests-fifth-prong-amidst-legal-battles/" rel="noopener noreferrer nofollow">&#39;Howey Test,&#39;</a> a legal framework used to determine what constitutes an investment contract, but also emphasizing that federal securities laws are designed to be interpreted flexibly.Read full article at <a href="https://cryptotale.org/musk-and-markus-challenge-secs-claim-that-crypto-lacks-inherent-value/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Musk and Markus Challenge SEC's Claim that Crypto Lacks Inherent Value

CryptoTale

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