The Securities and Exchange Commission has not said much about crypto companies issuing new tokens, usually called “ICO’s”, Initial Coin Offerings. The issue has remained silent. Now SEC provided a statement on May 23, saying they want ICO’s to be fair. They want cryptocurrency startups to protect their investors.Now I liked the idea of saying a token was a marker for some contract, separate from whatever coins are traded. Like, I tap on NGDP icon and my bot and the Fed bot trade in tax dollars on NGDP. But I carry around the NGDP token in my secure element, it is a contract guarantee. Gets me a spot at a NGDP futures table where the betting limit fits my style.
I don't need to stick to my semantics, marketing will clear this up. But apps want to set up trading opportunities, and get secure elements to agree; sort of independent of the particular coin being traded. We need a separation.
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