Recently Forbes published an article that argued that Blockchain tokens, if considered Securities, will stifle the growth of the industry. In this article, it has been argued that making Blockchain Tokens securities will make the whole ecosystem collapse.
It was an impassioned argument that missed the mark more often than it hit. The gist of the article could be surmised as follows - The regulators are overreacting, and it will kill innovation.
This is not an argument, any government has a tendency to overreact. It is human nature to attack with double the impact if something challenges our belief system. The blockchain is challenging our belief system in the world economy and then some.
Let us look at the basic motivation for regulations - Customer Protection. Is AML, as proposed by the article, the only issue that attacks customer security? No. And to argue that is a mistake. In fact, as I read through the article I thought that all the proposed measures from the article were for the protection and benefit of the promoters. Invest in LEGAL ICO - https://OiX.li/
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