Re:SEC Shuts Down Munchee ICO
by PeterisP on Tuesday December 12, 2017 @01:42PM
(#15908201)
A local currency should be beholden to local regulation.
A global decentralized currency should be beholden to every local regulation in which it is used, since the users fall under that jurisdiction - if it's not compatible with local regulation, then it should stay away from that locality and the people there.
In particular, ICOs should care about USA regulation if they want to attract money from people in USA; they can freely ignore SEC iff they keep their activities outside of USA and don't attempt to market their "investment" to customers in USA.
A global decentralized currency should be beholden to every local regulation in which it is used, since the users fall under that jurisdiction - if it's not compatible with local regulation, then it should stay away from that locality and the people there.
In particular, ICOs should care about USA regulation if they want to attract money from people in USA; they can freely ignore SEC iff they keep their activities outside of USA and don't attempt to market their "investment" to customers in USA.