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A comment on SEC Shuts Down Munchee ICO. Parent comment

Re:SEC Shuts Down Munchee ICO by michwill on Tuesday December 12, 2017 @02:58PM (#15908903)
All right, but if the coin is inseparable part of the resource, it cannot be a security. There is a thin line here.

Imagine a coin securitizing Bitcoin miners ("cloud mining coin"). Yes, that's a security.

Now imagine Ethereum. It was ICO'd, talking in today's terms. Is it a security? (hint: SEC just admitted it's not)

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Re:SEC Shuts Down Munchee ICO by gamblor956 on Tuesday December 12, 2017 @03:20PM (#15909084)
All right, but if the coin is inseparable part of the resource, it cannot be a security. There is a thin line here.

True, but then you're limited to things which can be stored in a blockstream in the space allocated to a single coin. There aren't many useful resources that could fit into that space, even fewer that would scale.

Now imagine Ethereum. It was ICO'd, talking in today's terms. Is it a security? (hint: SEC just admitted it's not)

Unless there is something about Ethereum that I'm not aware of, it does not represent any sort of ownership interest in another asset, it is the asset.

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Re:SEC Shuts Down Munchee ICO by Animats on Tuesday December 12, 2017 @03:25PM (#15909131)
The SEC's position on the DAO was that they were not going to apply their guidance retroactively to that one. Going forward, though, they're cracking down.
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Re:SEC Shuts Down Munchee ICO by joosters on Tuesday December 12, 2017 @04:46PM (#15909811)
Where did the SEC say the ethereum ICO wasn't a sale of securities?
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Re:SEC Shuts Down Munchee ICO by Frogolocalypse on Wednesday December 13, 2017 @12:44AM (#15912301)
> Now imagine Ethereum. It was ICO'd, talking in today's terms. Is it a security? (hint: SEC just admitted it's not)

I didn't see any admission like that. Quite the contrary. I think the statement pretty clearly places the ethereum ICO (as distinct from the functioning network after) as a security.

https://blog.ethereum.org/2014/07/22/launching-the-ether-sal...

There are a number of points in that post that scream security.

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