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 alarming to see such inconsistency and apparent backtracking from a regulatory body like the SEC. Legal clarity is crucial for innovation and fairness, and this kind of behavior muddles the waters even more. Regulatory transparency and consistency should be non-negotiable standards.