So all you have to do now is create the tokens out of thin air then "give away" most of them to anonymous third parties (via some airdrop or faucet or whatever and then have those anonymous accounts that are totally not linked to the founders create liquidity pools on defi platforms to sell to retail and now suddenly the token sale is no longer a security because it's "programmatic" and "decentralised" and the people buying it don't know who they're buying the tokens from so it couldn't possibly be an investment contract even if they then go and immediately stake those tokens for a share of revenue generated by the founding company's network/platform.
This ruling is fully retarded and won't stand up to scrutiny as any company could issue "tokens" (shares) in this manner which are unequivocally securities.
This is going to get a lot of people absolutely rekt who think they've out smarted securities laws... Yet again.
StanislawBits / Stanislaw Bits
npub1qq…9w9hp
2023-07-16 08:39:24
in reply to nevent1q…y7xa
Author Public Key
npub1qq87um5mhp60fzfz5kg43y8dl0sn2ma5cj7zhdg7ag35hhajtzjsq9w9hpPublished at
2023-07-16 08:39:24Event JSON
{
"id": "96a7035c3b9e980b622eb62224d52fd3a27e4394e132de61b0848466ec24c542",
"pubkey": "000fee6e9bb874f48922a5915890edfbe1356fb4c4bc2bb51eea234bdfb258a5",
"created_at": 1689496764,
"kind": 1,
"tags": [
[
"e",
"291be4d756bacc387200495256fec6f139b46036c295f0b9c4e84b6b0fdca33c",
"",
"reply"
],
[
"p",
"803a613997a26e8714116f99aa1f98e8589cb6116e1aaa1fc9c389984fcd9bb8"
]
],
"content": "So all you have to do now is create the tokens out of thin air then \"give away\" most of them to anonymous third parties (via some airdrop or faucet or whatever and then have those anonymous accounts that are totally not linked to the founders create liquidity pools on defi platforms to sell to retail and now suddenly the token sale is no longer a security because it's \"programmatic\" and \"decentralised\" and the people buying it don't know who they're buying the tokens from so it couldn't possibly be an investment contract even if they then go and immediately stake those tokens for a share of revenue generated by the founding company's network/platform. \n\nThis ruling is fully retarded and won't stand up to scrutiny as any company could issue \"tokens\" (shares) in this manner which are unequivocally securities. \n\nThis is going to get a lot of people absolutely rekt who think they've out smarted securities laws... Yet again. ",
"sig": "e85d4c0363afe2384b2049d89f228c232bd319f6a6e00bb8ca914d39dde2a39264df3eab13ae6c2304765d5d64b68cd3fde28901ce082255340d7a867d607443"
}