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The SEC guidance galvanized us on not offering tokens. Instead, we are going to offer shares directly in the company, even if they are mostly issued via an ERC2
by the_stc 9y ago
The SEC guidance galvanized us on not offering tokens. Instead, we are going to offer shares directly in the company, even if they are mostly issued via an ERC20 contract. If we are going to get heat from the SEC, might as well go all out and issue proper shares.
Plus tokens don't even make sense most of the time. You can't buy a Tesla car with TSLA and you do not get dividends/trading with a car. And no one outside kids at Chuck E Cheese want to use venue-specific currency.
- runeks 9y agoI’m not particularly knowledgeable on the subject, but isn’t the purpose of the SEC to prevent unauthorized entities from selling securities — including company shares — to people?
- the_stc 9y agoYou are correct. If we're going to violate SEC rules then we might as well do it right. Instead of dancing around the topic, using IP bans and a wink-wink-I'm-not-a-US-citizen box, issuing tokens for services that totally aren't investments, we'll just come right out and offer shares with dividends and voting. This was our plan all along, but the SEC guidance just made it more obviously correct one.