SEC orders Coinbase to delist everything except Bitcoin

SEC versus Coinbase Round 3

• Just when you thought things couldn't get any weirder with the SEC and Coinbase, things got weirder.
• In an action more shocking then all actions preceeding it, and believe me that is saying something. The SEC orders Coinbase to delist all 200 plus cryptocurrencies for sale on it's exchange, because they are securities, and Coinbase is selling unlicensed or unapproved securities, without a securities license.

Why so weird??

• Quite frankly, since the SEC approved the Coinbase Initial Stock Offering a few years ago, which made Coinbase one of the first publicaly traded cryptocurrency exchanges in the world, and because the SEC approved of Coinbases business model, which was over 5 years old then, and over 7 eyars old now, and since most of the cryptocurrencies Coinbase sells now, it sold during the Initial Public Offerring... none of this makes any sense.
• The truly crazy thing about all of this, is because the SEC has been judge, jury and executioner for so long, they appear to have forgotten, that you actually have to prove your charges in a court of law. And now that Coinbase and the SEC are actually in court, and presenting evidence before an actual judge, the SEC is quite frankly embarrassing itself before the world.
• I am not a legal expert, but it sems to me that if the SEC approved Coinbases Application to become a public company, doing exactly what it is doing now, two years ago. The SEC is going to have a pretty hard time convincing a judge that what Coinbase is doing is a crime, since the SEC actually officially approved Coinbases business model and asset list in the Initial Public Offerring.
• Quite frankly, I am embarrassed for the SEC. And the only way for them to save face is claim that one of their employees made a mistake.
• This may be the beginning of the end for the SEC as we know it, as they are starting to self destruct, and give their enemies evidence of their incompentance.
• Sad, sad times indeed.