I am a Crypto Enthusiast primarily bullish in XRP greatly appreciative of the XRP Community and attempting to catch the ultimate Paradigm Shift of any lifetime
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I enjoyed the @metaco_sa Webinar that just ended.
In the discussion of tokenization, @bgarlinghouse had an intriguing (personal) 💭 thought that tokenization of Intellectual Property such as patents could be interesting, with using smart contracts.
💯 🎯
But wait @andrewrsorkin, there is more ! Jay Clayton Made life better for @brian_armstrong and @coinbase.
It's impossible to know the intent of the ticket buyer. Did they buy to go to the concert or to speculate and re-sell it ? Whether it's a token or ticket, how is anyone going to be able to determine intent? They can't
Tokens can be used to pay for gas fees, NFTs, Mavs Tickets, books, carbon credits, insurance and much more.
The SEC wants to make the original intent , to raise funds for a common enterprise the defining factor for any token. That's an over reach
A share of Apple is a security. It is also SINGLE FUNCTION. It's an investment. The intent of all buyers is common and obvious.
A crypto token is typically MULTIFUNCTION . It can be used for all the things mentioned above and more.
If a token is used to fundraise, the SEC wants to define the token as a security and have it go through a registration or exemption process like single function shares of stock.
That doesn't work.
The SEC needs to define a registration process that adapts to multi function securities
@coinbase and others should be able to buy and sell those tokens until they do.
The issue is the SEC and it's approach to regulation
@GaryGensler@SECGov If only you had sent this video to SBF instead of meeting with him in private last year, maybe he would have realized FTX was a dog. And not a goldfish.
Goldman Sachs will begin cross-border payments into more than 160 countries, and in more than 120 currencies from Japan with a BANKING license. Japan will be the first country in Asia to start. (I'm sure it won't be the last).
https://t.co/jQ5rNkDpRq
1/ Shocking New Case Filed by the SEC
The SEC has just filed a case alleging that:
Selling crypto mining equipment and offering hosting services for the equipment constitutes an "investment contract" under Howey.
Yes. You read that right.
Here's what you need to know. 👇