BitShares Forum
Main => General Discussion => Topic started by: starspirit on June 06, 2015, 11:35:30 pm
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I just want to be confident I understand where the ("grey") lines are so that I can avoid crossing them in the designs I'm building.
For example, if the buyer of a token is not able to do anything with it apart from buy or sell it, is that necessarily a security? What makes an MPA a product rather than a security? Does it require non-financial utility?
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It's value is not dependent on the effort of others therefore not a security
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In the long run the answer to this question will be different in every jurisdiction, and probably quite arbitrary. I think the best choice is to simply hope for the best and avoid doing business in jurisdictions that decide they want to try regulating blockchain-based cash. IMO regulating bitassets as securities is the same as just banning them, since the full AML bs destroys the user experience as money - and slabbing stupid regulation on cryptocurrency will probably be a convient and often used method by regulators to de facto ban it. At the current point in time, while regulators don't even know what smart contracts are, I think it's best to just move as fast as possible and try spread blockchains, pegged assets and whatever other profitable smart contract you can create, as far as possible.