OMG, Steemit is a PRIVATELY HELD COMPANY, those running the company are directly responsible for following regulations.
And what regulations are those and how are they affecting the blockchain which is an Open Source, FREE TO FORK and FREE TO COPY.
It wasn't a judge but someone on a regulatory committee who approved a crypto currency to trade on the open market, to bring it under regulatory controls, because so many claims for losses were being filed, in order to address those losses there had to be recognition of it to have value, once value is confirmed people can file against people who start their own crypto currencies founded companies.
And if you understood that none of that means that they can regulate the blockchain but the trading and selling of assets on an exchange you would realize that it doesn't mean anything in the context of what we are discussing. But you would have to realize that you don't even know what blockchain is or how it functions.
So, and just for example, say someone sues Steemit because they lost thousands of dollars for being flagged like this guy claimed for no real good reason, and because Steemit owners allow this to happen that person can directly file suit against the owners of Steemit because they are the one's in control of how it is structured, the way they structured the program led to the losses. Flagging is meant for a purpose not for a revenge tool, if Steemit continues to let it be abused for ways other then it was intended they could potentially be held liable if Steem were also added to the open market.
Actually that makes no senese, because Steemit is not the ones in charge of how it's structured at all, the witnesses are. So the judge will laugh at you when that little detail gets brought up, a detail you'd be privy to had you actually understood what you were talking about.
if Steemit continues to let it be abused for ways other then it was intended they could potentially be held liable if Steem were also added to the open market.
Yeah in your dream land where people are held liable for things that they never guaranteed you dumbass. "But they promised me that I wouldn't lose my money", for example, or the fantasy of holding people like Steemit, which is only a front end of the blockchain, as responsible FOR the blockchain, which is done by the community and witnesses.