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https://kin.org/ https://kin.org/ got sued by the SEC for the same reason. They 'got away' with a 5m fine but were not branded a security (does that automatical
by casualbob_uk 6y ago
https://kin.org/ https://kin.org/ got sued by the SEC for the same reason. They 'got away' with a 5m fine but were not branded a security (does that automatically declare them a currency?). They're now free to carry on development with the SEC behind them. The difference is they just moved to Solana as a token, so they're decentralized, whereas what I take from XRP is that it's not. I don't fancy XRPs chances seeing what the Kin boys and girls went through, but if they 'win', whatever that may look like, they'll be up and away.
- adventured 6y ago> does that automatically declare them a currency? If they were branded as a security that would not automatically declare them to be a currency. It would put them in the category of equity securities (with the owners having rights accordingly as equity owners). USD holders are not regarded as having an equity ownership stake in the currency for example.