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:

If true, this reflects a significant inconsistency that needs addressing. Regulatory clarity is vital for the cryptocurrency sector to thrive and evolve. Discrepancies only create more confusion and volatility, undermining trust in the system. Let's hope for more coherent policies moving forward.