the Commission has determined that DAO Tokens are securities under the Securities Act of 1933 (“Securities Act”) and the Securities Exchange Act of 1934
Nineteen? Thirty? Three? !!!
The SEC must have been absolutely visionary to have come up with laws that would govern technologies invented nearly a century later.
Check the expiration date on that law, SEC. It smells kinda funny.
So glad we're still living under rules made almost a century ago. FML.