Re:Statement on Cryptocurrencies and Initial Coin Offerings
by wmf on Monday December 11, 2017 @10:29PM
(#15902795)
But no actual tokens work that way because no one would get rich off them.
Re:Statement on Cryptocurrencies and Initial Coin Offerings
by maneesh on Tuesday December 12, 2017 @12:30AM
(#15903216)
Volts work that way. Earn crypto for doing healthy habits. Use it to unlock new apps and courses for behavior change.
It becomes a lot easier when you realize money isn't real, it's a constraint. Like oxygen, it only matters when you don't have it --- once you do, it becomes irrelevant -- a story that allows you to represent incentives to do positive deeds.
My optimism could totally be misplaced! But here's an excerpt from the SEC statement that seems to go beyond your "security or commodity" classification.
> A key question for all ICO market participants: “Is the coin or token a security?” As securities law practitioners know well, the answer depends on the facts. For example, a token that represents a participation interest in a book-of-the-month club may not implicate our securities laws, and may well be an efficient way for the club’s operators to fund the future acquisition of books and facilitate the distribution of those books to token holders.