Re:Statement on Potentially Unlawful Online Platforms for Tr...
by cal5k on Wednesday March 07, 2018 @02:04PM
(#16538875)
I don't see why that matters. They clarified that DAO tokens are securities but decided not to pursue any action for a number of reasons, one of which being (and they've stated this elsewhere) that prior to their clarification there was ambiguity on this issue.
The tl;dr is that they are clearly securities under existing law. Now that the SEC has clarified that fact companies are free to issue Tokens if they comply with the law.
Re:Statement on Potentially Unlawful Online Platforms for Tr...
by JumpCrisscross on Wednesday March 07, 2018 @02:06PM
(#16538890)
> When the SEC says...what they mean is: we chose not to beat a dead horse, because it's already dead
The SEC charged Bernie Madoff's auditors after the scheme had been revealed [1]. In respect of the DAO, the SEC appears to be taking a "wait and see" approach. (With ICOs, on the other hand, we've seen enough.)
Re:Statement on Potentially Unlawful Online Platforms for Tr...
by overdrivetg on Wednesday March 07, 2018 @03:59PM
(#16539836)
The DAO was hacked in June of 2016, and the SEC didn't release that article until July of 2017.
https://en.wikipedia.org/wiki/The_DAO_(organization)
When the SEC says:
> The Commission has determined not to pursue an enforcement action in this matter based on the conduct and activities known to the Commission at this time
What they mean is:
> We chose not to beat a dead horse, because it's already dead.