• Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
Subscribe
  • Login
  • Register
No Result
View All Result
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
No Result
View All Result
No Result
View All Result

US Regulator Bullies ICOs Before a Court or Congress Has Ruled on Whether Tokens Are a Security

21/05/2018 15:46
2 comments

We all know of SEC, CFTC, FinCEN, OCC and countless of other acronyms, but now there’s a new one, the North American Securities Administrators Association (NASAA).

They’re apparently a voluntary body, yet they’ve been going around sending cease-and-desist letters to individuals from 40 jurisdictions “warning” them that their ICO might be an “unregistered security.”

What court told this voluntary body no one has heard of that tokens are a security, we do not know. Not least because there has been no such decision in any jurisdiction with the first case to decide the matter to begins on January 7th when a jury will decide whether tokens are a security, rather than some acronym.

Yet that hasn’t stopped this guild protectionist body from sending its president, Joseph Borg (pictured), to tell the public:

“We’re putting ourselves in the shoes of investors. We’re seeing what’s being promoted to investors. And then we’re taking the next step and then we’re finding out whether they’re complying with securities laws.”

Of course, for the good of the children, not because ICOs compete with old boring stocks which so far have enjoyed a monopoly that has led to the greatest wealth inequality in a century for Mr Bozos of Amazon, and his like,  faces little competition. So everyone keeps giving him money by buying his stocks despite Bozos publicly stating he has so much money he does not even know what to do with it.

“Posing as members of the public, investigators discovered roughly 30,000 cryptocurrency-related domain names in recent weeks,” Bezos’ Washington Post says.

How you can pose as a member of the public online when searching whois remains a bit of a mystery to us young ones who actually use this internet thing.

Just as it remains quite a bit of a mystery how these outdated institutions, of which a judge has stated have not reached “the 20th century, much less the 21st,” reach the conclusion that it is so fit for them to extend their jurisdiction to a very new global thing.

They apparently went so far as to bully a British kid, which might even be a scam we do not know, but how is it their jurisdiction?

Do the Brits now need to comply with Chinese laws too, and Russian laws, and European laws even though they voted to leave the EU? And if US or EU law is to apply and to be respected, then why should Russian or Chinese law be ignored?

Are we then to comply with the laws of 134 countries because we want to sell some Cryptokitties? Just because some unelected bureaucrats find it fit to use the law to protect their monopolies which have been stealing from the working public for five decades during which period the people have seen no wage growth while stock billionaires complain they have so much money they don’t know what to do with it.

Why, pay your workers! Better still, tear down that securities act barbaric wall which chains our feet to only monopoly stock companies that nowadays give no better returns than saving accounts.

But, nay, god forbid if the people were able to directly participate in the value creation process by directly investing in promising start-ups. How will these fat cats become fatter then?

Copyrights Trustnodes.com

 

Related Posts

Euro area inflation, March 2023

Inflation Falls More Than Expected in Europe

Two Faced Elizabeth Warren Allies with Banks Against Crypto, March 2023

Elizabeth Warren Allies with Banks

Bitcoin Up on Futures Expiry as Stocks Replace CME

Banks Keep Rolling Fed Loans

Load More
  • Trending
  • Comments
  • Latest
US gov bitcoin holdings, March 2023

US Gov Becomes Top Holder of Bitcoin

CFTC

Bitcoin, Ethereum and Litecoin Are Commodities Says CFTC

Biden and other global leaders at the Summit for Democracy, March 2023

Is Dedollarization Happening?

The National Bureau of Economic Research

Goldman Sachs and JP Morgan Can’t Survive Bank Run Says NBER Paper, Fail Stress Test

CFTC

Bitcoin, Ethereum and Litecoin Are Commodities Says CFTC

Biden and other global leaders at the Summit for Democracy, March 2023

Is Dedollarization Happening?

Euro area inflation, March 2023

Inflation Falls More Than Expected in Europe

Two Faced Elizabeth Warren Allies with Banks Against Crypto, March 2023

Elizabeth Warren Allies with Banks

Coinbase on the day of Nasdaq Listing, April 2021

Bitcoin Up on Futures Expiry as Stocks Replace CME

Fed St. Louis HQ

Banks Keep Rolling Fed Loans

Comments

Latest News

  • Inflation Falls More Than Expected in Europe
  • Elizabeth Warren Allies with Banks
  • Bitcoin Up on Futures Expiry as Stocks Replace CME

About Trustnodes

Terms of Service

Privacy Policy

Our Ethics and Values

Trustnodes Newsletter

(You have to be a paid subscriber)

Trustnodes © 2017-2023. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics

Trustnodes © 2017-2023. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

Welcome Back!

Login to your account below

Authenticate with MetaMask Loading...

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?