"The concern of the SEC is that hard-earned money is getting sucked up in bogus projects that are outside the scope of federal securities laws. And he wants to see Americans have the full protections afforded under those laws." What a load of BS....as if the govt cares or does anything when people lose money in their investments. In fact, the IRS takes a cut of your profits after you have taken the risk and invested successfully, but if you lose money you are on your own. Simply amazing that people have not risen up to overturn such unfair taxation. Not to mention that taxation on capital gains is unfair double taxation to begin with. Govt = thieves.
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Amen brother! They got quite a racket. That's why I'll always be hodling, no plans to go back ;-p
Indeed they do, whether its weed or crypto, it's only legal if they can make money off it and waste it in the govt coffers / lining their pockets....bunch of dirty leeches...just a mafia really. It pisses me off that we have to take our hard earned money, get taxed on it and then with what little is left after paying bills, property tax etc you do your research and invest, and if you win they take their cut, if you lose it's your problem...capital gains losses have a $3000/year deduction limit, which is such a joke (And of course there's no limit on your gains being taxed, sure, sounds fair). The system is rigged, must be nice having a no-lose business