When the SEC gave ETH an okay, they also said it was not a Security because it was a cryptocurrency and not a token. Whiskey Tango Foxtrot? Does that imply that they’ll treat anything calling itself a token as a security??
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I think the head of the SEC was clear on that...he didnt imply, he categorically stated that tokens are securities.
It will be fascinating to watch how all this unfolds. Regulators, when you think about it, are really third part verification entities, hence subject to replacement by blockchain at some point. Until then, we are going to see them involved. Coinbase buys up a company to become a regulated securities dealer tells it all. They are going to play the game for a while. As will Circle.
But, at some point in time, the decentralized exchanges might gain steam. Once hack with tokens cleared out and that will really cast a negative light on centralized exchanges.
If every SMT issuer has to register with the SEC, won’t that impede the development of the SMT ecosystem?
The exchange on STEEM is decentralized...hence outside the bounds of the SEC.
I hope you’re right.