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The difference this time is that blockchain companies are relatively easy to start outside of US, and other countries will gladly grab the market. EU will allo

The difference this time is that blockchain companies are relatively easy to start outside of US, and other countries will gladly grab the market. EU will allow kickstarter-style equity crowdfunding from July 21st this year, up to €1M (accessible to general public, not just "accredited investors"), and - depending on a state - equity crowdfunding up onto €8M with minimal paperwork. Plus, there are simplified rules for handling security tokens in some of the countries. If memory serves me right, setting a crypto exchange dealing with security tokens in Germany costs ~40k€ in license fees, and ~400k€ in all legal expenses. If you have it in one EU state, you're allowed to transact in all of them, and all the rest of the world too (US excluded). Worth noting also, that unlike webtech, in fintech you can build a feasible business while banning US. It hurts, but it's doable - especially when US startups cannot compete :)

cfadvan 9y ago
Wherever you go, if you’re a US citizen or do business in the US the SEC has long arm jurisdiction. The degree to which they can reach out and just take would be shocking to anyone who didn’t already know about their powers. http://www.arthurcox.com/wp-content/uploads/2017/11/The-long-and-punitive-arm-of-the-SEC-Nov-2017.pdf http://www.arthurcox.com/wp-content/uploads/2017/11/The-long... https://scholarship.law.berkeley.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=1088&context=bblj https://scholarship.law.berkeley.edu/cgi/viewcontent.cgi?ref... http://www.statutes.legis.state.tx.us/Docs/CP/htm/CP.17.htm http://www.statutes.legis.state.tx.us/Docs/CP/htm/CP.17.htm https://en.m.wikipedia.org/wiki/Long-arm_jurisdiction https://en.m.wikipedia.org/wiki/Long-arm_jurisdiction In fact as you can see, you don’t even need to be a US citizen or company. The SEC can take its time and when it has a mind to, just reach out and fuck up all of the cryptocurrencies they decide broke the rules, and do it retroactively. They have a ton of power, backed by the US and a number of treaties. If you’re in the EU, the SEC won’t even have to break a sweat.

cfadvan 9y ago

Wherever you go, if you’re a US citizen or do business in the US the SEC has long arm jurisdiction. The degree to which they can reach out and just take would be shocking to anyone who didn’t already know about their powers. http://www.arthurcox.com/wp-content/uploads/2017/11/The-long-and-punitive-arm-of-the-SEC-Nov-2017.pdf http://www.arthurcox.com/wp-content/uploads/2017/11/The-long... https://scholarship.law.berkeley.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=1088&context=bblj https://scholarship.law.berkeley.edu/cgi/viewcontent.cgi?ref... http://www.statutes.legis.state.tx.us/Docs/CP/htm/CP.17.htm http://www.statutes.legis.state.tx.us/Docs/CP/htm/CP.17.htm https://en.m.wikipedia.org/wiki/Long-arm_jurisdiction https://en.m.wikipedia.org/wiki/Long-arm_jurisdiction In fact as you can see, you don’t even need to be a US citizen or company. The SEC can take its time and when it has a mind to, just reach out and fuck up all of the cryptocurrencies they decide broke the rules, and do it retroactively. They have a ton of power, backed by the US and a number of treaties. If you’re in the EU, the SEC won’t even have to break a sweat.