RE: Are Most Cryptocurrencies Doomed to Collapse — because they’re “ICO-issued”?

[finitemaz]

FYI: Lawmakers are introducing a bill to change the SEC’s 72-year old securities definition to exclude cryptocurrencies. Doubt would ever pass....
https://www.cnbc.com/2018/12/20/lawmakers-look-to-change-secs-72-year-old-securities-definition-to-exclude-cryptocurrencies.html

Comments

[anonymint]

That law wouldn’t change anything:

[…] clarifies that securities laws would not apply to cryptocurrencies once they become a fully functioning network.

That is already the case. Once a cryptocurrency becomes decentralized and controlled predominately by the free market, then the tokens are no longer securities. But that doesn’t exonerate those who broke the securities law before that juncture in the development of that project.

That is unless the law means something different by “fully functioning network”.

Anyway, as you said it will not pass. No change to the securities law is going to get through without significant scrutiny by senior members of Congress who will not want to remove the SEC’s protection for investors.

[anonymint]

Update.