1/ Maybe, but here’s a YUGE prob for securities #tokens: do you need a securities brokerage account just to use the token? Most brokers & their custodians prob won’t integrate with a #blockchain, which means these incumbents can kill the industry simply by not integrating &...
2/ ...thus impeding the token’s use value & preventing it from ever building network effects. If every token must be a security, then @SEC_News should allow wallets to hold securities tokens for short-term, transactional purposes outside of securities brokers. Not doing that...
3/ ...would effectively give the incumbent securities industry the right to block securities tokens & the token industy would just leave the US. That would be anti-competitive, bad policy & just morally wrong. I hope the @SEC_News will get this policy right. #utilitytokens
