okay? forget I even mentioned crowdfunding, the SEC rules on it are still nonexistent.
things like number of shareholders before reporting requirements are triggered still apply to company shares denominated in bitcoin
The question is for what reason does it apply? Taxes? There are no Bitcoin taxes yet and if its barter how is that taxed? I'm not against it applying but there should be a debate about each rule and why it should apply and what purpose it serves. I'm sure that rule had some purpose for the dollar economy, now we need lawyers to have a round table discussion about the Bitcoin economy and to examine each rule thoroughly to determine which can apply and which can't. Then we need technologists to take part in the debate to explain the technology to the lawyers and finally we will have a consensus. The only consensus we seem to have right now is that some reporting is necessary, but report what and why and to whom?
things like the kind of offering still apply to company shares denominated in bitcoin
and now lets talk about the exchanges, anyone familiar with the Securities Exchange Act of 1934?
Unfortunately I'm not a lawyer, I'm a technologist. I'd like lawyers to give some advice but the lawyers are the ones telling the centralized exchanges to shut down. It was the lawyers who triggered this chain of events and now the technologists are being forced to solve the problem because lawyers can't due to the SEC not having any rules at all for lawyers to follow.