One of the biggest things holding back crypto is a lack of clear guidence from regulators.
From the United States, to Asia, to just about every part of the world where crypto is currently traded, the goal posts keep getting moved.
This has been a major reason that institutions are yet to get involved in a major way.
This lack of clarity is holding back all sorts of investors and technological advancements.
Well, we may be getting some clarity from at least one of the major regulators!
There hasn't been clear guidance in the United States from many of the 3 letter organizations, especially from the IRS to the SEC.
However, the former has pledged to come out with updated tax guidelines and a the latter is about to be forced to revise the way they look at things as well.
In news out today from KiK, it was revealed that they are starting a 'Defend Crypto' defense fund.
The goal of the fund will be to raise money in order to take on regulators in court (cough cough SEC) in order for more clarity on the Howey Test as it relates to crypto.
“It’s become clear that is the only way we are going to get the clarity we need.”
(Source: https://www.ccn.com/kin-foundation-sec-howey-test)
More about it can be seen in the link above ^^^.
This is awesome news for crypto and I think their fund is going to find a long list of willing donors!
By the way, the fund is being seeded with $5 million to start with.
I bet that number climbs quickly.
Good news indeed. :)
Stay informed my friends.
-Doc