The strength of the country is built on free enterprise, opportunity and growth no matter what socio-economic status or education. Are we taking away the average Joe’s right to buy crypto?
In the past the collapse of world economic leaders were often dictated by the amount of spending on defense and the lack of domestic investment. The result was always the same, as a great power fell into economic decline they were replaced by rivals who had continued to develop infrastructure and technology.
Today, technology, robotics, genetics, computing and decentralized autonomous solutions are revolutionizing whose on top. So why would the United States try to regulate with antiquated policy when they could be the world leader in the evolution of blockchain technology.
The Securities Act of 1933 has two key purposes which state:
that investors receive financial and other significant information concerning securities being offered for public sale;
prohibit deceit, misrepresentations, and other fraud in the sale of securities.
The release of this information is intended let the public decide whether to purchase the security.
What does any of this have to do with blockchain and cryptocurrency companies? Some cryptocurrencies are not securities and investors are not investing in a company they are buying tokens. The most obvious difference in the blockchain cryptocurrency market is that cryptocurrencies can run autonomously, giving the community control not the executives of the company.
Todd Rowan, CEO & CoFounder at Rewardex said, “Regulation is almost always required to keep the bad actors out and protect consumers; however bad regulation can kill opportunity and growth for an industry. The Crypto market does not quite fit into the current regulation framework. There are components and uses which do follow tradition regulations; however this is very unique technology with many use cases.