Seems like a conflict of interest which I'd imagine your lawyer should have been aware of if you're part these two ICO fintech startups - starmine.ai and vectorspace.ai
I don't understand why folks are making such a big deal about Tether. If it is indeed a scam, wouldn't that imply a $2-$3 billion scam at most? What am I missing? As of this writing, the entire crypto market cap is at a recent low of $300 billion. Tether would be around 1% of the total market.
Footnote 11 on page 5: "I am particularly concerned about market participants who extend to customers credit in U.S. dollars – a relatively
stable asset – to enable the purchase of cryptocurrencies, which, in recent experience, have proven to be a more
volatile asset."
After reading this, I am as bullish as ever on real coins, and hope this is a wake up call to those ECR20 tokens that are clearly unregistered securities.
You won't ever be using an ECR20 token as a currency, its such an absurd concept -- Why wouldn't you just use the native ETH if you wanted to pay with coin?
Look to projects that did not raise money via ICO, look to projects that are global building payment infrastructure.
More power to you SEC, may your elite cyber division put all the bad money guys out of business.
There will be some ERC20 securitized tokens from known companies in US. They are using this vehicle to raise funds. I cannot disclose the name of the companies but can tell what I see participating in those rounds.
ERC20 is just a token standard on Ethereum. You can issue ERC20 tokens for anything. Some of these will be securities, some won't. It's the use of the tokens that matters, not the protocol/tech behind it.
"Distributed ledger and other emerging technologies have the potential to further influence and improve the capital markets and the financial services industry. Businesses, especially smaller businesses without efficient access to traditional capital markets, can be aided by financial technology in raising capital to establish and finance their operations, thereby allowing them to be more competitive both domestically and globally. And these technological innovations can provide investors with new
pportunities to offer support and capital to novel concepts and ideas."
"Said simply, we should embrace the pursuit of technological advancement, as well as new and innovative techniques for capital raising, but not at the expense of the principles undermining our well-founded and proven approach to protecting investors and markets."
All things considered, this is a positive outcome for crypto making it an even better investment.
The whole document seemed to have a positive supportive tone. I'm glad there are still some smart people left in government who are willing to take risks on new technology.
I really hope the do the same with automated cars and other AI tech in general.
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[ 4.4 ms ] story [ 58.5 ms ] threadEven if you are it sounds like you're in violation of The Investment Advisers Act of 1940, 15 U.S.C. § 80b-1 through 15 U.S.C. § 80b-21.
https://www.forbes.com/sites/feeonlyplanner/2011/05/19/are-y...
Seems like a conflict of interest which I'd imagine your lawyer should have been aware of if you're part these two ICO fintech startups - starmine.ai and vectorspace.ai
https://vectorspace.ai/
http://starmine.ai/
interesting story from an investor who got burned from the starmine ICO due to inability for starmine to be listed on exchanges:
https://www.reddit.com/r/icocrypto/comments/73xbo2/starmine/
You won't ever be using an ECR20 token as a currency, its such an absurd concept -- Why wouldn't you just use the native ETH if you wanted to pay with coin?
Look to projects that did not raise money via ICO, look to projects that are global building payment infrastructure.
More power to you SEC, may your elite cyber division put all the bad money guys out of business.
FUD is over, boys!
"Distributed ledger and other emerging technologies have the potential to further influence and improve the capital markets and the financial services industry. Businesses, especially smaller businesses without efficient access to traditional capital markets, can be aided by financial technology in raising capital to establish and finance their operations, thereby allowing them to be more competitive both domestically and globally. And these technological innovations can provide investors with new pportunities to offer support and capital to novel concepts and ideas."
"Said simply, we should embrace the pursuit of technological advancement, as well as new and innovative techniques for capital raising, but not at the expense of the principles undermining our well-founded and proven approach to protecting investors and markets."
All things considered, this is a positive outcome for crypto making it an even better investment.
I really hope the do the same with automated cars and other AI tech in general.