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> so stringent, the laws on penny stocks are extremely well established. Crypto is asking for a free ride just because.

• olalonde 3y ago
  Perhaps the laws on penny stock registration don't translate well to crypto tokens? How do you explain that basically no one registers? Surely, "just because" is not it.
  • davidgerard 3y ago
    The one technical innovation is that in the olden days, a penny stock required paper and phones. You can now press a button and launch a new DeFi token, about 100% of which are unregistered penny stock scams. They don't register because they think they can get away without it, it's pretty simple. Pointing at all the other scofflaws doesn't make you not a scofflaw.
    • olalonde 3y ago
      Your claim is that there is a straightforward way to register crypto tokens with the SEC but projects chose not to because they can get away with it?
      • davidgerard 3y ago
        It's called an S-1. It turns out to involve a lot of paperwork, and there's reasons for that.
        • olalonde 3y ago
          And you genuinely believe that crypto token projects could just take the time to fill out the S-1 form, but don't because it's too time consuming? I find that hard to believe. I'm tempted to believe that they do, but don't get approved, or that they can't, because some requirements are impossible to fulfill.
          • davidgerard 3y ago
            They're impossible to fulfill when the only advantage of crypto in practice is to evade regulation, yes.