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I've had some questions about whether the SEC will "go after" Bitcoin or Eth as it has Ripple/XRP, and Kik/Kin, Telegram/Grams. That was not going to happen in Trump/Clayton SEC and is unlikely in next because they are very different things. 1/x
1. One reason is the centralized vs. decentralized control model. There may be ancillary entities doing something illegal related to BITC or ETH but there is no central org that benefits from market value of BITC or ETH in same way as Telegram, Ripple or Kik and execs did. 2/x
2. BITC and ETH have established themselves as currencies, independent of the future of an organization and a project or operation to build something. As such, the CFTC not the SEC is taking the lead. 3/x
3. Project or centralized organizations that have created tokens/coins have been greedy pigs, violating Howey test, and picking a fight with the SEC, despite its repeated warnings about how things work. That is a losing battle as Telegram and Kik have seen. Ripple will learn. 4/x
4. Telegram, Kik, Ripple and hundreds ofd others raised tons, pun intended, of money from US and international investors through SEC's back door Form D for years, under SEC's nose. Now they are picking them off like apples on a log. All about the $$. 5/5 https://thedig.substack.com/p/the-secs-token-enforcement-action
Final thought: Too many people coming into Biden administration have career ties or aspirations related to financial services, venture, private equity, pmt fintech. All of those want to exploit "innovation" related to BITC and ETH. No one will be cutting that off anytime soon.
Final final thought: I told ya'll $FB Libra would flounder for same reasons. https://www.marketwatch.com/story/facebooks-crypto-plans-look-a-lot-like-the-ones-the-sec-is-trying-to-stop-2019-06-27
