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Not being a crytocurrencer or securities analyst I am still confused by this distinction. What you're saying makes it sound like this isn't that big of a story—they just need to file some paperwork and then the thing will go ahead as planned. Is that right?

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The legislation on the registration of securities clearly didn't anticipate cryptocurrencies so it's a bit of a legal gray area – the laws routinely discuss which states a broker is registered on, or has clients, or advertises the security, to name just a few examples of how crypto break expectations

So IMHO this is somewhat of a big story in the sense that these events continue to push the discussion forward

If you think filing for an IPO is just some paperwork, then yea :)

That doesn't help me understand what's going on here. Is this a big deal or just a formality?

It’s a big deal. A lot of projects followed a similar path so we will have to wait and see what objection the SEC had with telegrams specific offering. A reg-a/s-1 would likely take them a year if they started it today.

Ah ok. Thanks! In that case the title seems good.

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