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RE: Does the STEEM Blue Paper respond to a recent decision by the SEC to consider some Crypto-Currencies Securities?

in #deepthink3 years ago

well, the folk at Steemit Inc got a legal team to deal with all of that. I'm definitely not expert level securities analyst :D It's gonna take a couple years before we see how the SEC is ultimately going to treat crypto... atm they seem to be letting the blockchain sector grow a bit before tightening down too hard on us.

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Yes, I wrote to their legal team asking them about it. One week later and no reply yet. Maybe they're too busy dealing with the SEC ;)

hah, I doubt it. I had a chat with Ned once about the SEC, and he was well thought out and confident about Steems position.

I'm not sure it matters, since steemit was not an ICO. They aren't selling anything, are they? I suppose that the SEC theoretically could go after Steemit Inc, but the blockchain is run by the community, not Steemit inc. I think securities laws have more of an impact on ICO, rather than crypto in general.

Tokens are bought and sold on the open market, so... thinking about it now.. i'm not entirely sure. don't they have to be selling something to apply to Howey?

https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11