RE: US SEC Ruling on the DAO May Have Chilling Effect on ICO Investment
At least it will prevent fraudulent activities as well as scams but the bad thing is, this is just one step forwards towards the state trying to regulate and moderate cryptocurrency.
Sad thing is that it most definitely will decrease the number of ICOs reducing the plethora of different tokens on the market.
It seems like even though crypto was one a sign of freedom, showcasing how as the consumer want a decentralised world, without the ever pressuring presence of the state, might now be a thing of the past.
Let's hope crypto can stay decentralised and act as a platform where anyone can use it throughout the world with no precautions or anything prohibiting them accessing the cryptospace.
It all goes downhill when the state tries to get involved unfortunately.
I doubt it will prevent frauds and scams it will just increase the burden for genuine ICOs that operate in the US. Fraudsters will likely not care either way.
Last I checked most of these "scams" were done by the likes of the big banks. And very few did any jail time but they skimmed some of their profits for a trivial fine.
Yes they do it all the time. Occasionally a low level person will get into trouble but the people higher up rarely get in any trouble.
More regulations and rules only increase criminal activity.