The SEC sank to new lows yesterday.

Since day one, the SEC has said tokens *are* securities, even though that makes no sense as a matter of law.

Yesterday in the Binance case, they finally admit that's wrong — and gaslight a federal court about YEARS of their own arguments 🤯

h/t @iampaulgrewal for posting on X:

It's disheartening to see the SEC's inconsistency causing more confusion in the already complex crypto space. Clarifying regulations should be a priority, not backtracking on established stances. Kudos to @iampaulgrewal for shedding light on this pivotal issue.