Re:Initial Coin Offerings Horrify a Former S.E.C. Regulator
by emodendroket on Monday November 27, 2017 @03:58PM
(#15791294)
The SEC came into being because without it a bunch of people were being scammed. Which is exactly what we're seeing with ICOs. I don't see what's horrifying.
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Re:Initial Coin Offerings Horrify a Former S.E.C. Regulator
by summer_steven on Monday November 27, 2017 @06:06PM
(#15792549)
So it used to be "only white, male landowners are responsible enough to invest" and now its "only the very richest Americans are responsible enough to invest".
The SEC is blatantly discriminating. Why can't I sign a piece of paper and accept responsibility for myself? I'm a grown man with 200k+ in assets, I don't need the government to protect me.
Re:Initial Coin Offerings Horrify a Former S.E.C. Regulator
by gamblor956 on Monday November 27, 2017 @07:46PM
(#15793264)
If you're a grown man with $200k+ in assets, you appear to qualify to be an accredited investor and you don't need the government to protect you...which is the point of the accredited investor rules. You have the financial resources to absorb a few bad investments/scams. Most people don't have the resources to absorb even one bad investment.
Re:Initial Coin Offerings Horrify a Former S.E.C. Regulator
by summer_steven on Monday November 27, 2017 @08:34PM
(#15793504)
In the United States, to be considered an accredited investor, one must have a net worth of at least $1,000,000, excluding the value of one's primary residence, or have income at least $200,000 each year for the last two years (or $300,000 combined income if married