Hyperme, thanks for your posts. It's good to get a reality check on what could be coming. I wonder what kind of timescale it would be before the SEC & others come after crypto?
Thinking about it, all it would take is an official announcement that ICO issued cryptos are illegal and SEC are investigating exchanges for the prices to crash through the floor. They wouldn't even have to issue shutdown orders or go after anyone.
Is there a list of ico cryptos anywhere? I think it might soon be time to move my investments.
Finally someone gets it.
Yeah we do not know the timing (especially harmonization with nations which have underdeveloped securities law), but I had the same thought that if the SEC announces a crackdown, it will crater ICO market prices we'll see a stampede for the exits.
If crackdowns continue to accrue from major nations ongoing, the ICOs will get repeatedly slapped down.
I just can't fathom how ICOs would not be doomed unless securities regulation is abandoned by major nations.
And I can't fathom how illegal trading in minor nations could sustain them. They may end up more unappreciated than Pink Sheets stocks in the USA. However, if the mania in ICOs is too strong we may get the opposite where the masses are fighting to get in and commit illegal trading to not miss out on the gains. We could be headed for some Tulip or South Seas Bubble situation, wherein the destruction and punishments come much later after a much larger bubble that is beyond the control of authorities.
Also if another vehicle for speculation which replaces ICOs comes along, that could be another significant factor in the outcome. I
outlined one such idea w.r.t. to gaming.
Sheesh man, chill. I was just asking a question. Regulators can and do grandfather stuff all the time. I'm not an expert so I posted a theory. Thanks for explaining why it was wrong but you don't have to get all condescending about it. Maybe you should put the computer away and get some sleep
I thought I made it very clear that I was not being disrespectful or unappreciative, and that my frustration is only that I do not have time to run around every place on the forum where incorrect information is promulgated. And I asked for others to take on that responsibility of correcting misinformation based on what they read.
I do not think regulators will grandfather illegal issuance of securities, because it would embolden future non-compliance with new twists such as the obfuscation of an ICO with instamining. I also think that in order to punish non-compliance with illegal trading, they will be forced to punish some traders as well. Otherwise, they will appear to be impotent and non-compliance will proliferate.
Btw, I did edit the sentences about "tl;dr" to replace 'you' with 'they' which was my intention when I wrote it.
(I'm not lacking sleep nor overworking recently)