Wow, another exchange! At least we'll have a lot to choose from this year :-P
What I find a bit strange is that the vesting/lockups are not clear. As potential investor this information is crucial..
Other question to you guys: Nick Ayton said on the event I attendes last week that the Howey test is rubbish. (You can read more about it in my last post: https://steemit.com/cryptocurrency/@cryptotem/insights-from-nick-ayton-about-crypto-and-icos-in-2018-bringing-you-stuff-i-picked-up-at-the-crypto-conference-dagvandecrypto-a)
Nick says:
“If you are trying to convince buyers that your taken is a utility, you have to be able to use it on a platform on day 1. If you are using a token as a way of raising capital, to bring into your project and you haven’t built it or haven’t finished building, it is a security.”
What is your take on this?
We tend to agree. We doubt that the future regulation will be as simple as Howey's Test suggests and that the SEC will follow test results. We've been observing regulatory environment for a while and intend to remove Howey's Test section from future articles. Instead, we will replace it with a different section which will appear when we see something, that strongly indicates that the token will be regulated as a security. For example, when it's marketed as an investment, officially states that it's a security or when it promises dividends.
Nice! Sounds like a good idea, tweaking your analyses this way :-)
I think I agree as well. Man, this space changes so fast. Keeps on getting more interesting ;-)