|
|
|
|
|
|
by seibelj
2840 days ago
|
|
|
Investor accreditation laws are USA specific. There is no such concept in other countries in most situations. They are such a bad law they congress finally reformed them with the JOBS act and now allow investment of startups companies by anyone. ICOs in the USA only take accredited US investors now. That has been standard practice for a year now. Finally, I would not agree that the political system has perfect solutions to everything and therefore cryptocurrencies are irrelevant. The financial crisis alone is proof that things can go terribly wrong. |
|
|
Almost all countries that have public markets have a similar form of regulation.
> ICOs in the USA only take accredited US investors now. That has been standard practice for a year now.
Right, which makes them not significantly politically different from regular securities.
> Finally, I would not agree that the political system has perfect solutions to everything and therefore cryptocurrencies are irrelevant. The financial crisis alone is proof that things can go terribly wrong.
I'm not here to defend the law, I'm saying the decisions weren't made because crypto currency markets simply weren't possible then, the decisions were made because no one wants this, really. If you want to change the financial system you need to do it from the regulation side, this is not a "build it and they will come" situation. These aren't new ideas, people just forgot we already decided we don't want them. Maybe that's changed, but it's not clear why or how.