SEC Halts a Real Initial Coin Offering
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SEC Halts a Real Initial Coin Offering
1–10 of 21 posts
Re: SEC Halts a Real Initial Coin Offering
#2good job SEC.
Re: SEC Halts a Real Initial Coin Offering
#3Fuck the SEC....they fucked us with the bank bailouts.
Now they shutting down innovated businesses on Ethereum.
What a bunch of pathetic bitches
Re: SEC Halts a Real Initial Coin Offering
#4The SAFT lets you sell tokens to speculative investors, without having the tokens themselves be securities: You wrap the tokens in securities for the speculators, and then unwrap them for the eventual users.
There are still open questions about whether and how that or other approaches will work.
...But for a long time now, I and a lot of other people have thought that the basic strategy of a lot of ICO issuers -- issue tokens for money, call them "utility tokens," hype their speculative benefits, and watch the money roll in -- was obviously illegal, and the SEC didn't seem to be paying attention. Now we know it is.
Re: SEC Halts a Real Initial Coin Offering
#5Discussed earlier here:
https://news.ycombinator.com/item?id=15906305
Re: SEC Halts a Real Initial Coin Offering
#6good job SEC.
Yes, thanks SEC for preventing free people from entering into voluntary transactions.
Re: SEC Halts a Real Initial Coin Offering
#7For the SEC looks like there’s a clear difference between pure crypto-for-its-value and as utility to run a network (like ETH or BTC) and tokens which are sold in some ICO with the promise of gains in return (or shares in some structure), even if the second kind of token also has some utility.
https://techcrunch.com/2017/12/11/with-markets-going-crypto-...
Re: SEC Halts a Real Initial Coin Offering
#8good job SEC.
Yes, thanks SEC for preventing free people from entering into voluntary transactions.
> Yes, thanks SEC for preventing free people from entering into voluntary transactions.
Allowing free people to enter into whatever voluntary transactions they would like is basically the definition of anarchism. It's surprising to see people advocating for anarchism on HN this often, especially in obscured fashions like this rather than explicitly. Anarchy was never the vision for our society and is not generally seen as a desirable end goal.
[Edited for clarity.]
Re: SEC Halts a Real Initial Coin Offering
#9Earlier quoted context omitted.
Yes, thanks SEC for preventing free people from entering into voluntary transactions.
> Yes, thanks SEC for preventing free people from entering into voluntary transactions. Allowing free people to enter into whatever voluntary transactions they would like is basically the definition of anarchism. It's surprising to see people advocating for anarchism on HN this often, especially in obscured fashions like this rather than explicitly. Anarchy was never the vision for our society and is not generally se…
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Re: SEC Halts a Real Initial Coin Offering
#10For the SEC looks like there’s a clear difference between pure crypto-for-its-value and as utility to run a network (like ETH or BTC) and tokens which are sold in some ICO with the promise of gains in return (or shares in some structure), even if the second kind of token also has some utility. https://techcrunch.com/2017/12/11/with-markets-going-crypto-...
I'm very impressed with this stance by SEC. It's very well informed and it reflects the practical reality and nature of those crypto tokens. They move in to regulate what needs to be regulated (tokens susceptible to scams against naive users), and leave what doesn't need to be regulated alone.