| Any fool can have bad luck; the art consists in knowing how to exploit it.
-Frank Wedekind | | Your providers do the best they can to keep spam out, but sometimes the systems they use mistakenly catch good mail along with it. So, we ask that you add us to your trusted list of senders. | | SEC doesn't believe Ether (and Bitcoin) are securities | | William Hinman (the SEC director of Corporation Finance) has given us a breakdown of how the SEC views cryptocurrency and ICOs.
"...If the network on which the token or coin is to function is sufficiently decentralized – where purchasers would no longer reasonably expect a person or group to carry out essential managerial or entrepreneurial efforts – the assets may not represent an investment contract. Moreover, when the efforts of the third party are no longer a key factor for determining the enterprise's success, material information asymmetries recede. As a network becomes truly decentralized, the ability to identify an issuer or promoter to make the requisite disclosures becomes difficult, and less meaningful.
And so, when I look at Bitcoin today, I do not see a central third party whose efforts are a key determining factor in the enterprise. The network on which Bitcoin functions is operational and appears to have been decentralized for some time, perhaps from inception. Applying the disclosure regime of the federal securities laws to the offer and resale of Bitcoin would seem to add little value. And putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions."
You can read the full speech here.
You can read Marco Santori's (a lawyer) comments about this here.
You can read Kyle Samani's (a fund manager) comments about this here.
| | Square, you get a BitLicense!
Xapo, you get a BitLicense!
(more coming soon) | | - Russia's Largest Banks Are Piloting Bitcoin and Crypto Portfolios
- Chip Maker Nvidia Adds Blockchain-AI Startup to Incubator
- Etoro Is Launching an OTC Crypto Trading Desk for Institutions
| | | I liked this read from Preston Byrne. He's a lawyer, but he's not your lawyer. And this is not legal advice, | | | Some capitulation. That's about it. But we're still bearish. | | | Here are some support lines. As you see, our weekly support line (S1) decreased to around 6k. | | | Help Raise The Tide Of Crypto | | | | | |
