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There's no chance Vitalik et al will get indicted. The SEC is not going to try to make an example out of the most successful decentralized protocols which did i
by CryptoPunk 8y ago
There's no chance Vitalik et al will get indicted. The SEC is not going to try to make an example out of the most successful decentralized protocols which did its crowdfunding long before they issued any kind of advisory on the application of US securities laws on token sales.
They did not indict the organizers of the DAO, and that had much more security-like features, like passive dividends for holders of its tokens, and also collapsed and came close to losing the majority of its contributors' funds.
The SEC recognizes smart contract based crowdfunding is a new financial technology still in its infancy, and are not going to come down with a iron fist on anything that doesn't blatantly defy securities law. So far they've only gone after blatant scams (organizers lying about the project's credentials, misappropriating funds, misrepresenting assets held as collateral, etc).
- Alex3917 8y ago> which did its crowdfunding long before they issued any kind of advisory on the application of US securities laws on token sales. If the SEC had provided some sort of novel guidance then this would make sense, but their statements have consistently been that token sales are nothing new and the same laws from the last 70+ years apply.