There Is No 'Bitcoin': What the SEC Doesn't Get About Cryptocurrency - CoinDesk
The SEC would like to establish jurisdiction over crypto assets but this is only appropriate where there are legally enforceable contracts between legal entities, argues Edan Yago.
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The majority of the people trying to involve themselves in the situation don't really know what they are even dealing with. It came up in our government too and none of them knew anything about crypto or bitcoin. A bunch of teachers and life long politicians but not a technological mind between them.