Hacker News Reader

So which of the enumerated types of securities listed in 15 U.S.C. §77b(a)(1) does a cryptocurrency fall under?

Also, how often has SEC gone after the purchaser of an unregistered/unexempted security. Not very often, I would guess.

אדל עושה++++++++++

That post was written by a person who also writes stuff like this, just so you know who you're putting up as an authority on security sales: https://twitter.com/derosetech/status/866740735558680579

Someone being an asshole does not preclude them from being right. If you're protecting your investment with "but the critics are misogynist!", I'm afraid it's a charade the SEC will see right through.

Another criticism: https://prestonbyrne.com/2016/08/12/against-crowdsales/

As for DeRose, if he isn't actually an asshat, he's certainly doing a flawless impersonation of one. But many of his points are correct nonetheless. Though do note that as a Bitcoin maximalist he would be making very similar arguments even if he were wrong ;)

A much more comprehensive analysis by experts in US securities law:

https://www.coinbase.com/legal/securities-law-framework.pdf