Stephen Bannon, former Vice President of Goldman Sachs and former Senior Counselor to President Trump, has stated that he owns Bitcoin [BTC]. He also stated that he is working on a number of utility tokens for use by the average population.
While speaking at the Alpha conference in New York, Bannon stated that cryptocurrencies have a “huge aspect in the future”. However, he did state that “90% of ICOs have been a disaster”, speaking about the number of coins in the market that are either scams or tokens with no real development.
Notably, the United States Securities and Exchanges Commission has revealed some of their preliminary methods for determining the status of cryptocurrencies. While the Howey Test still holds stron!g, the SEC has stated that tokens released through ICOs will most likely be declared as securities. As long as funds gained from the ICOs are used to fund the operations of the company behind it, those tokens will be qualified as a security.
Bannon aims to circumvent this by creating a number of utility tokens
everyone should have some bitcoin
Great post!
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