JUST IN: 🇺🇸 The #SEC keeps moving on crypto without Congress, adding 3 new answers on who controls a crypto network.
Under the new guidance:
1. Token holders voting on a network generally don’t count as a “central party,” unless they’re affiliated or agree to act together.
2. A central party “oversees participation” if it can control access at the protocol, validator or user level.
3. A network being “functional” (its token actually works on it) is different from being “decentralized” (no one controls it).
It’s the SEC’s latest crypto move since the CLARITY Act failed a Senate vote 49 to 50 on Sept 15:
- Sept 17: an exemption for trading tokenized US stocks on blockchain venues
- Sept 25: a crypto FAQ on how securities laws apply to tokens
- Oct 1: a proposal on how investment advisers and funds can hold crypto
$USDC $HOT $BTC
#BinanceWithdrawalScamWarning #USMidtermElections #USOctoberNFP-AreRateCutsStillPossible #Verify1to1BinanceReserves
Under the new guidance:
1. Token holders voting on a network generally don’t count as a “central party,” unless they’re affiliated or agree to act together.
2. A central party “oversees participation” if it can control access at the protocol, validator or user level.
3. A network being “functional” (its token actually works on it) is different from being “decentralized” (no one controls it).
It’s the SEC’s latest crypto move since the CLARITY Act failed a Senate vote 49 to 50 on Sept 15:
- Sept 17: an exemption for trading tokenized US stocks on blockchain venues
- Sept 25: a crypto FAQ on how securities laws apply to tokens
- Oct 1: a proposal on how investment advisers and funds can hold crypto
$USDC $HOT $BTC
#BinanceWithdrawalScamWarning #USMidtermElections #USOctoberNFP-AreRateCutsStillPossible #Verify1to1BinanceReserves
