[jonnydubowsky]

The following quote from a recent Coinbase article has me wondering about the recent round of amazing crypto-art tokens and the speculative market that has emerged for buying and selling them. While the proposed eth721 standard makes a distinction that attempts to seperate these tokens from the ones used in ICOs, it appears as if the SEC and FinCEN don't really care about intentions, rather how these tokens end up being used. As a YC startup, with access to some well-seasoned sources of advice, I'm wondering what you've heard on these issues as they relate to your project? "The U.S. Treasury Department's FinCEN division recently declared that any developer that sells convertible virtual currency, including in the form of ICO coins or tokens, in exchange for another type of value that substitutes for currency is a "money transmitter" subject to proper registration with the Treasury Department, anti-money-laundering rules, and other regulatory and licensing requirements -- requirements that, if not satisfied, could result in imprisonment." from https://www.coindesk.com/crypto-exchanges-ico-teams-brain/