
CFTC and SEC Testimony on Cryptocurrencies [pdf] - sna1l
https://www.banking.senate.gov/public/_cache/files/a5e72ac6-4f8a-473f-9c9c-e2894573d57d/BF62433A09A9B95A269A29E1FF13D2BA.clayton-testimony-2-6-18.pdf
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gaetanrickter
In the conclusion:

"Distributed ledger and other emerging technologies have the potential to
further influence and improve the capital markets and the financial services
industry. Businesses, especially smaller businesses without efficient access
to traditional capital markets, can be aided by financial technology in
raising capital to establish and finance their operations, thereby allowing
them to be more competitive both domestically and globally. And these
technological innovations can provide investors with new pportunities to offer
support and capital to novel concepts and ideas."

"Said simply, we should embrace the pursuit of technological advancement, as
well as new and innovative techniques for capital raising, but not at the
expense of the principles undermining our well-founded and proven approach to
protecting investors and markets."

All things considered, this is a positive outcome for crypto making it an even
better investment.

~~~
dmix
The whole document seemed to have a positive supportive tone. I'm glad there
are still some smart people left in government who are willing to take risks
on new technology.

I really hope the do the same with automated cars and other AI tech in
general.

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45h34jh53k4j
After reading this, I am as bullish as ever on real coins, and hope this is a
wake up call to those ECR20 tokens that are clearly unregistered securities.

You won't ever be using an ECR20 token as a currency, its such an absurd
concept -- Why wouldn't you just use the native ETH if you wanted to pay with
coin?

Look to projects that did not raise money via ICO, look to projects that are
global building payment infrastructure.

More power to you SEC, may your elite cyber division put all the bad money
guys out of business.

~~~
sidko
ERC20 is just a token standard on Ethereum. You can issue ERC20 tokens for
anything. Some of these will be securities, some won't. It's the use of the
tokens that matters, not the protocol/tech behind it.

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klipt
No mention of Tether?

~~~
JustAnotherPat
Tether is none of the US's business. Headquartered in Hong Kong.

~~~
hisabness
I don't understand why folks are making such a big deal about Tether. If it is
indeed a scam, wouldn't that imply a $2-$3 billion scam at most? What am I
missing? As of this writing, the entire crypto market cap is at a recent low
of $300 billion. Tether would be around 1% of the total market.

~~~
AlexCoventry
The value of the crypto which is actually in flight in day-to-day trading is
probably orders of magnitude less than that, though.

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qwerty456127
Access Denied

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KasianFranks
Time to buy.

~~~
0wing
Kasian Franks, are you a Registered Investment Adviser registered with the
Securities and Exchange Commission?

Even if you are it sounds like you're in violation of The Investment Advisers
Act of 1940, 15 U.S.C. § 80b-1 through 15 U.S.C. § 80b-21.

[https://www.forbes.com/sites/feeonlyplanner/2011/05/19/are-y...](https://www.forbes.com/sites/feeonlyplanner/2011/05/19/are-
you-a-victim-of-illegal-investment-advice/)

Seems like a conflict of interest which I'd imagine your lawyer should have
been aware of if you're part these two ICO fintech startups - starmine.ai and
vectorspace.ai

[https://vectorspace.ai/](https://vectorspace.ai/)

[http://starmine.ai/](http://starmine.ai/)

interesting story from an investor who got burned from the starmine ICO due to
inability for starmine to be listed on exchanges:

[https://www.reddit.com/r/icocrypto/comments/73xbo2/starmine/](https://www.reddit.com/r/icocrypto/comments/73xbo2/starmine/)

