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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 1
by 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 agoYour 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 agoIt's called an S-1. It turns out to involve a lot of paperwork, and there's reasons for that.
- olalonde 3y agoAnd 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 agoThey're impossible to fulfill when the only advantage of crypto in practice is to evade regulation, yes.