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 astounding how regulatory bodies can shift their stance without accountability. The SEC's contradictory positions are not just confusing but potentially harmful to the crypto ecosystem. Transparency and consistency are key in regulation, not retroactive justifications.