|
|
|
|
|
|
by TimJRobinson
1181 days ago
|
|
|
What is the USA trying to achieve though? If you want innovation to continue in the USA you can't expect companies to wait decades until the government has decided what is allowed and what isn't, they're just going to setup in other countries instead. The USA was founded on freedom and the ability for people to innovate and create, now it's becoming a place many companies avoid because of a hostile government and this is going to be disasterous for the future wealth of the country. Coinbase points out in the post that it's been much easier to operate in every other country than the USA. |
|
|
Innovation like South Korea's Terra Luna, Bahama's FTX, and (region unspecified)'s Binance? What would the US do without such "innovation", the horrors!
> The USA was founded on freedom and the ability for people to innovate and create.
Including creative legal solutions that circumvent laws, I assume? I have been involved in an early crypto project in the past, and the way the "token"s are created is by first making them as digital securities, and then adding enough "utility" to give it plausible deniability under the Ethereum defense (something with enough utility may not be a security.) This process generally takes multiple rounds of back-and-forth between the "devs" and the lawyers. However, these tokens act like securities, people buy them as if they're securities, and they are dumped on the market by early investors and devs like they are securities. Unfortunately, it's not fooling people anymore, and SEC can actually take steps on it.
> Coinbase points out in the post that it's been much easier to operate in every other country than the USA.
"Much easier to dump fake securities on the public elsewhere" is probably a feature of the USA and not a bug. I'm glad it is the case.