This week, the Securities and Exchange Commission tweeted out its guidelines for those launching and investing in ICOs, although many would say that over a year on from the peak of the cryptocurrency boom, the guidelines amount to too little, too late.
That said, the document still throws up several points of contention, including a rather gloomy outlook for cryptocurrency exchanges – even decentralized ones – and at least one possible violation of the First Amendment on the part of the SEC.
Cryptocurrency Promotion: A Knife’s Edge
Perhaps it’s no surprise that some prominent crypto executives have begun to declare themselves part of a “protocol” rather than a company in recent months. | Source: Shutterstock
The SEC defines a security as:
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