SEC releases crypto token guidance

For what I understand from reading the summaries this guidance seems to be a bad thing for US blockchain or crypto innovation.

Let me explain; most revolutionary projects start with a small group of people doing awesome things. This will be considered too centralised. All raised money is to be considered investment money and the token to be a security. This would have been the case for for instance Ethereum or EOS…

Once the projects are successful the SEC considers them decentralised, thus a commodity. Like the state of Ethereum now.

So where will the new Ethereums be built? Probably not in the US.

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