The SEC determines ICOs are Securities. Short Summary.
This refers particularly to the case of the "DAO" the report explains that while they will be not taking action at the moment. In the future, it sets a precedent.
Let's remember that the DAO was as close to a hedge fund as you could get at the moment. It doesn't mean all tokens will be treated as securities. Also, the only surprise is that it took them so long.
https://www.sec.gov/news/press-release/2017-131
The really absurd thing is THE DAO was not a US security. Our government does this, it somehow claims international jurisdictions beyond its own borders. Really silly.
The good thing is, this is government. The DAO is long-gone and look how fast it took regulators to issue a single report saying the DAO was a security.
At this rate, the DAO might fall under regulatory crack-down come July 2018, 2 years after it got hacked and went bust.
Yeah, I actually think the insane and slow rules of America (protecting customers from investing in securities, but allowing penny stocks, where more people loose money ¯_(ツ)_/¯) have their own pros and cons. I'm actually more worried by what other governments, especially Singapur and Switzerland might do after this. For all its maladies America is the place to look at for innovation and to copy, at least for now.
Fuck em, the SEC, CIA, FDA they are all part of US corp. which change the constitution in 1871. Read about it on my blog :) End game has just begun.
True Flip [ICO] - Already running a transparent blockchain lottery! Bomb! Bonus 20%! ICO will end in 2 days! Hurry! :)
The platform is already working and making a profit :)
https://steemit.com/ico/@newico/true-flip-ico-already-running-a-transparent-blockchain-lottery-bomb-bonus-20-ico-will-end-in-2-days-hurry
This is a free social network) If my post in your opinion here is strongly not appropriate. Forgive me) You can lower his rating! :) And I'll have it in mind :)
Sorry this is not the way, comments should be relevant to the post and using banners...
It sure has begun. Indeed.
Here it is It's pretty shocking. That's why I was so against vaccines, not that I'm against the idea but the implementation... There is something behind it and I'm sure your intention is pure as a doctor but as you can see in that post it's well researched. And I've been going to meetings with 'free' people, studied the law, history and finally did a test with banks/credit agencies.
Good night :)
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