<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>blitzar</author><text>Reminder: #Tether is registered and regulated under FinCEN as all the centralised competitors. Strict KYC&amp;#x2F;AML is applied to all Tether direct users, as the other main issuers are doing. Less regulated is just FUD. Ask yourself who benefits from spreading such misinformation?&lt;p&gt;— Paolo Ardoino (@paoloardoino) December 30, 2020&lt;p&gt;Paolo Ardoino, Tether&amp;#x27;s chief technology officer.&lt;p&gt;It doesnt matter who is&amp;#x2F;isnt regulating you, once you are claiming to be a regulated instrument publicly to people in the US then the SEC have all the jursidiction they need.</text><parent_chain><item><author>gruez</author><text>&amp;quot;tether is a fraud&amp;#x2F;ponzi&amp;quot; claims aside, does SEC even have jurisdiction here? The SEC isn&amp;#x27;t out to protect all investors, only to protect them from &lt;i&gt;securities&lt;/i&gt; fraud. I&amp;#x27;m skeptical whether a stablecoin could even count as a security. From bloomberg:&lt;p&gt;&amp;gt;The rule in the U.S. is that an “investment contract,” meaning “the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others,” is a security&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.bloomberg.com&amp;#x2F;opinion&amp;#x2F;articles&amp;#x2F;2021-09-08&amp;#x2F;lending-bitcoins-is-tricky&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.bloomberg.com&amp;#x2F;opinion&amp;#x2F;articles&amp;#x2F;2021-09-08&amp;#x2F;lendin...&lt;/a&gt;&lt;p&gt;Under that definition, are stablecoins even securities? You buy it at $1 and the best you can hope for it is that the value remains at $1. There&amp;#x27;s no expectation of profits.</text></item></parent_chain></comment><story><title>Tether is under undisclosed SEC investigation, FOIA blocked</title><url>https://twitter.com/silvermanjacob/status/1441391317578289153</url></story>
<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>ARandumGuy</author><text>My understanding is that, in the US at least, &amp;quot;securities&amp;quot; is a broad category that applies to any financial asset or product that isn&amp;#x27;t regulated under other rules. However, this is pretty uncharted territory, and until there&amp;#x27;s some judicial precedent, it&amp;#x27;s impossible to be completely sure.</text><parent_chain><item><author>gruez</author><text>&amp;quot;tether is a fraud&amp;#x2F;ponzi&amp;quot; claims aside, does SEC even have jurisdiction here? The SEC isn&amp;#x27;t out to protect all investors, only to protect them from &lt;i&gt;securities&lt;/i&gt; fraud. I&amp;#x27;m skeptical whether a stablecoin could even count as a security. From bloomberg:&lt;p&gt;&amp;gt;The rule in the U.S. is that an “investment contract,” meaning “the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others,” is a security&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.bloomberg.com&amp;#x2F;opinion&amp;#x2F;articles&amp;#x2F;2021-09-08&amp;#x2F;lending-bitcoins-is-tricky&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.bloomberg.com&amp;#x2F;opinion&amp;#x2F;articles&amp;#x2F;2021-09-08&amp;#x2F;lendin...&lt;/a&gt;&lt;p&gt;Under that definition, are stablecoins even securities? You buy it at $1 and the best you can hope for it is that the value remains at $1. There&amp;#x27;s no expectation of profits.</text></item></parent_chain></comment><story><title>Tether is under undisclosed SEC investigation, FOIA blocked</title><url>https://twitter.com/silvermanjacob/status/1441391317578289153</url></story>