But it won't matter - the SEC won't have to do anything.
After the flood of ICO's this year - investor will see how most of them are bust, and will pull their money out.
The market will correct itself on that one.
Sure markets correct, but somehow the ride continued.
I love how Silicon Valley was ridiculing industries like print, brick and mortar commerce and old-media for not adopting to the new future technologies.
But now that something appeared that challenges SVs status quo, they do just the same and dismiss it. I think this shows that legacy thinking is a psychological problem and not an IQ problem.
I basically see the future as being both really dystopic and utopic at the same time:
So (mostly rich) people will be able to invest their money without any friction, but this will destroy the rent-seeking institutions that weren't meant to exist in the first place
=> power to the geeks and the rich, but you won't be able to make any money by just making "deals".
Would love to be convinced otherwise though....
ICOs are challenging nothing.
ICOers are selling 'numbers' for real money - and the value of those 'numbers' is going to zero pretty quickly.
BTC will be around for a while, but these ICO-ers are selling nothing in return for real money, and that won't last. It will end soon.
Nobody has a 'lock' on the 'VC' model. Anyone can invest - including you. The issue relates mostly to regulations, which are there to protect you - and also actual ownership of assets, which is a pretty big deal.