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RE: Defend the Blockchain!

in #bitshares7 years ago (edited)

This is such a needed effort! I do a lot of work exposing regulatory capture with venn diagrams, and there's little to no backlash from the public against the collusion taking place under the guise of regulation. The SEC is also battling for dominance with the Commodity Futures Trading Commission - the agency that swiftly handed LedgerX its futures trading license (you can see the blatant overlap between the two organizations below). I'm worried if the SEC backs off, it'll just be replaced by the CFTC - do you have any thoughts on that?

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Well, the correct answer is that they each have a role to play for tokens that fit inside their domains. The problem is when they make claims like "all tokens are securities" or commodities that they are overstepping. Neither casino tokens or Monopoly money are securities or commodities and they have no jurisdictional authority there.