Jay Clayton at CoinDesk’s Consensus

[amicrypto]

Jay Clayton, the SEC chairman was present at CoinDesk’s Consensus in Manhattan to discuss about cyrptocurrency and the impending regulations in the Industry. Here are the major takeaways from the conversation that caught my attention:

Every ICO Token Is a Security

This piece is really crucial in terms of implications for ICO's that have raised money without any decentralized structure in the token economy. The Chairman clearly stated that companies that have issued currency to fund their venture will be declared Security tokens. All the ICO's that raised money will be declared as Security and will be dealt with accordingly. This means there will be retrospective actions in such cases.
I see this as a major drawback for exchanges as they would now need approval from the SEC to trade tokens. Decentralized exchanges are in for some massive hammering as well.

Bitcoin ETF's are still far away

ETF's would have been a good way to bring in institutional interest into the cryptocurrencies but Clayton has different plans. She clearly mentions that the SEC needs to be sure that price is free from manipulation for the ETF to be approved. She also adds that ETF's are not going to be approved anytime soon.

While some may see this as investor protection by the SEC but does this not kill the "Free from government control" nature of Cryptocurrency? I have mixed feelings in regards to the regulations that are coming in. While they would definitely reduce scam and shitty ICO's but the decentralized nature is compromised in this entire process. What are your thoughts?

Source 1: thecryptonews
Source 2: coindesk

[Spendulus]

....some may see this as investor protection by the SEC but does this not kill the "Free from government control" nature of Cryptocurrency?

....they would definitely reduce scam and shitty ICO's but the decentralized nature is compromised in this entire process....

Where exactly do you get these ideas? Satoshi's orientation was in peer to peer transactions, forming an entire alternative money system world wide...

... not in schemes by which tokens could be issued to fund ventures outside of the regulated SEC sphere of activities.

[amicrypto]

Where exactly do you get these ideas? Satoshi's orientation was in peer to peer transactions, forming an entire alternative money system world wide...

We have moved much beyond P2P money systems when it comes to blockchain. Do you want to rule out the possibility to create a decentralized network that supports a whole range of different applications. While the Bitcoin community built the entire network, it is not so practical in every case. Organizations/foundations would have to step up and they would obviously need some sort of control (to an extent).

... not in schemes by which tokens could be issued to fund ventures outside of the regulated SEC sphere of activities.

Definitely, SEC should take cognizance of the indiscriminate ways in which funds have been raised and routed to organizations and foundations with dubious past.

[KingScorpio]

Jay Clayton, the SEC chairman was present at CoinDesk’s Consensus in Manhattan to discuss about cyrptocurrency and the impending regulations in the Industry. Here are the major takeaways from the conversation that caught my attention:

Every ICO Token Is a Security

This piece is really crucial in terms of implications for ICO's that have raised money without any decentralized structure in the token economy. The Chairman clearly stated that companies that have issued currency to fund their venture will be declared Security tokens. All the ICO's that raised money will be declared as Security and will be dealt with accordingly. This means there will be retrospective actions in such cases.
I see this as a major drawback for exchanges as they would now need approval from the SEC to trade tokens. Decentralized exchanges are in for some massive hammering as well.

Bitcoin ETF's are still far away

ETF's would have been a good way to bring in institutional interest into the cryptocurrencies but Clayton has different plans. She clearly mentions that the SEC needs to be sure that price is free from manipulation for the ETF to be approved. She also adds that ETF's are not going to be approved anytime soon.

While some may see this as investor protection by the SEC but does this not kill the "Free from government control" nature of Cryptocurrency? I have mixed feelings in regards to the regulations that are coming in. While they would definitely reduce scam and shitty ICO's but the decentralized nature is compromised in this entire process. What are your thoughts?

Source 1: thecryptonews
Source 2: coindesk

its actually highly problematic if the SEC flirts with the indexmafia or any of their affiliates, because they would basically support the cause of private individuals to basically run their attentionhack for which there was no global consensus, they did their attentionhack and now they want to impoverish all enrich themselves and define the misfortunate as so called "shitcoiners"