Sec Ruling Winners

So the sec recently decided the dao was a security.

sec scope Interestingly they

1. did not opine on eth, an older, yet involved coin
2. did not pursue any charges

Basically they had problems with

1. the sale of the security that promised profits
2. using money to pay for it (eth is now consider money)
3. where others controlled it ( the dao curators decided what projects were on the whitelist)
4. where profits were reasonably inferred. The coin was described as a coin that shared in profits

They seemed to be ok with exchanges where it was sold because they met some kind of alternative exchange exemption

ramifications

This could

1. freeze up the ico markets
   Anyone selling to us investors has to be worried now
2. makes the ico coins (eth waves ant icn Taas) less valuable
3. makes coins that promise profits, dividends or buy backs officially securities, at least according to the sec.

dash as a role model?

Interestingly It sounded like coins like dash and pivx that have true distributed voting might not be securities because no one has control. These coins didn't have icos in the first place but it might mean more new projects try to copy this governance.

So who are the winners?

1. non ico coins
2. coins focusing on ex is markets
3. coins with egalitarian voting (no mgmt control)
4. coins that don't promise profits of any kind