The U.S. Securities and Exchange Commission has moved to shut down the latest Moon distribution, claiming the official token of the cryptocurrency subreddit is, in fact, a security.
The SEC has threatened Reddit with legal action should the latest distribution go ahead.
Frustrated and confused redditors, some of whom had stayed up all night waiting for their Moons, were left in the dark following an initial announcement on Reddit that Moons would be distributed.
A statement released by the SEC cited comments from irate Redditors who were angry at the SEC for their stance on cryptocurrencies and their proceedings against Coinbase and Ripple.
"One Redditor even told us to suck his big fat hairy balls." the statement read, "here at the SEC we take statements like that very seriously, we'll see how they like it when they can't get their precious Moons!"
We have reached out to Reddit for a statement.
Stay tuned for more on this development
Edit: Hot off the presses! Latest development:
https://www.reddit.com/r/CryptoCurrency/comments/pl95k1/sec_reacts_violently_to_moons_distribution/
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