Discover and read the best of Twitter Threads about #tokentaxonomyact

Most recents (3)

Long Reads Sunday #42.

Who woulda thunk it? After all the tension, infighting, and tribal bickering, the thing that gets us to set aside differences & unite against a common foe is a threat to dox a spacecat.

Saddle TF up, it’s Long Reads time! 👇

Image: @CryptoScamHub
2/ Here’s the TL;DR. Craig Wright, who is absolutely and most definitely Satoshi, upped the stakes on his campaign against those who claimed otherwise by offering a $5000 bounty to reveal the identity of @hodlonaut (aka the person who kicked off the #LNtrustchain)
3/ It was a step too far.

Pomposity, outlandish claims, and outright scams are par for the course in crypto. But an outright attempt to dox someone is a straight up “fuck you” to everything anyone legitimately in this space believes in.
Read 37 tweets
@jchervinsky @josh_blockchain @gulovsen @ForbesCrypto @DelRayMan @AndreaTinianow @GitlitzMichelle @JTelpner @msantoriESQ @ronqman @jaybaris @KMSmithDC @BlockchainAssn Thanks Jake. Who’s responsible for adding federal preemption to the new #tokentaxonomyact? That provision wasn’t included in the version of the bill introduced in December. I wonder what changed between then and now
@jchervinsky @josh_blockchain @gulovsen @ForbesCrypto @DelRayMan @AndreaTinianow @GitlitzMichelle @JTelpner @msantoriESQ @ronqman @jaybaris @KMSmithDC @BlockchainAssn 1/ What’s controversial abt federal preemption here isn’t merely that state securities regulators will object (they will, as Greg Strong points out in @josh_blockchain’s post), but something much more fundamental: do the feds control property law, or just a subset (securities)?
@jchervinsky @josh_blockchain @gulovsen @ForbesCrypto @DelRayMan @AndreaTinianow @GitlitzMichelle @JTelpner @msantoriESQ @ronqman @jaybaris @KMSmithDC @BlockchainAssn 2/ If #digitaltokens aren’t securities, then what are they? The #tokentaxonomyact doesn’t answer bc it can’t. We ran into the same issue in #Wyoming—originally exempting tokens from state securities laws in last year’s HB70, but not defining what they were. So, #Wyoming fixed
Read 7 tweets
1/ UGH--HOPES DASHED! #tokentaxonomyact proposes 2 great things but the rest of it needs a lot of work. The $600 tax exemption & 1031 (like-for-like) exchange provisions are great. I wish the bill stopped there! The definition of "digital token" got so watered down that there's..
2/ ...not even a "taxonomy" left in the #tokentaxonomyact anymore! 4 states have now passed similar bills that define a taxonomy (#virtualcurrencies, #utilitytokens & #securitytokens) & bills are moving in 5 more states--that's 9 states in only 15 months! But this bill not only..
3/ ...jettisoned that taxonomy, it now claims federal preemption over those bills. (I think that section is probably unconstitutional. The feds clearly have preemption regarding securities, but digital tokens are expressly not securities! If they're not securities, then they're..
Read 11 tweets

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