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I think cryptos bull market was fueled almost entirely by the regulatory vacuum in which the markets operated. We already have regulatory regimes for every type
by tootie 4y ago
I think cryptos bull market was fueled almost entirely by the regulatory vacuum in which the markets operated. We already have regulatory regimes for every type of financial instrument and transaction. Crypto shouldn't need special rules. If it's a currency, then great it's illegal to mint currency in the US so you're banned forever. It's definitely not a commodity, so that means you live life as a security or else. A security with no interest payments, dividends or equity stake. But definitely capital gains tax.
- unyttigfjelltol 4y agoThe problem is you get caught in a lot of red tape if you want to issue securities with no intrinsic value whatever. For good reason-- the SEC's mission is to stop scams and a valueless offering is the archetype of a scam. Isn't crypto more like a service, rather than any of those things? You deposit some, withdraw some, and in between you get an account. Like a banking service. Which is when the banking regulators properly should shut it down.
- HWR_14 4y agoYou can mint currency in the US, as long as you cannot be confused for USD (or probably other currencies). And capital gains isn't tied to it being a security at all.
- jjk166 4y agoWhatever regulatory regime arcade tickets fall under would be the appropriate set.