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RE: What Happens if Cryptocurrencies are Securities?
Well done on a thoughtful article, although I am far less positive about SEC action than you. :-)
I am a lawyer with experience fighting regulators and I think the SEC's behaviour is regulatory over-reach and may be unconstitutional. See more detail here: https://steemit.com/crypto/@apshamilton/time-for-crypto-industry-to-push-back-against-regulatory-overreach