It's a good thing HIVE/STEEM launched when it did...
The SEC halted any plans Telegram had of launching its own token network
In an ongoing battle with the SEC over their token launch (Grams), the final death blow was delivered earlier this week to the Telegram crypto project.
By now, you are likely familiar with the SEC blocking Telegram from including US citizens in its ICO which raised close to $2 billion dollars.
That is nothing new as the SEC has been cracking down on ICOs being offered to US citizens as they claim this violates the current securities laws.
However, what happened this week just went a whole lot further than that...
After battling the SEC in the courts for months now, the death blow was finally delivered this week.
The SEC declared that it is unlawful for Telegram to offer their token sale to ANYONE IN THE WORLD, because once it is up and running there is a chance that US based users could find access to the platform...
Um, say what?
Check this out:
"The U.S. court declared that grams couldn't be distributed not only in the United States, but globally. Why? Because, it said, a U.S. citizen might find some way of accessing the TON platform after it launched. So, to prevent this, grams shouldn’t be allowed to be distributed anywhere in the world—even if every other country on the planet seemed to be perfectly fine with TON."
I have no words...
Literally no words...
So, the SEC can halt a project that is launching outside of the US because it says its citizens might find access to the platform?
How is that even possible?
Telegram isn't even a US company...
All I can say is that it's a good thing that STEEM/HIVE launched when it did, because it doesn't sound possible for a project like STEEM/HIVE to launch today.
How would it?
Reading news like this it's hard not to wonder... who's next?
Stay informed my friends.
Image Source:
https://decrypt.co/28749/sec-killed-telegram-saft-token-sale-ton
-Doc
And they say the US dollar has no value. 😂
It goes to show that Bitcoin isn't out of the woods yet, at least not in the US. Though it can't be killed, they can certainly cripple it if they really want to...
Thats my point. I know its off topic a bit but still. As long as this is true, as long as they can force their interests on others like this, the US dollar will have value.
Yep, and it's a little scary for holding large amounts of BTC or any other crypto for that matter...
Damn, doesn't seem very weird with all the controlling going around the world right now! Although I feel like the U.S is going to lose control after this shit show.
Pretty sure Libra is not next though lol, due to Mark trying to relaunch it again!
Really? You are probably right, it may launch, but it will be so heavily regulated will it even work as intended?
Well, who knows? but, from my POV I'm guessing it'll be even more than it was intended before (Economy's falling apart chance)
Still a good thing we have HIVE tho, I just hope we get more & more people into it :)
Yea, it was tough to onboard onto steem, it will be even tougher with HIVE. We need a target marketing plan to really give it a chance.
Right on!
I have a website which is almost 500k ranking now, why haven't I thought about marketing Hive there? Damn, will be on it!
It's amazing how blatantly they are now admitting to the manipulation.
On every level.
I know you saw the Fed chairman admit to creating money out of nothing, because they are the central bank and have the ability to do that.
Their arrogance will be their downfall.
The more they rub it in people's faces, the more people will wake up to all the lies and embrace the alternatives.
Especially as the damage from their fiat ponzi scheme starts really hitting home for people.
Check out what's going on in Venezuela. 20,000 retail outlets just starting accepting btc.
It is coming, and we are laying the path.
Exciting times for sure!
Thank God for Satoshi, not that we are out of the woods, but imagine what might have happened if we didn't have that option?
Or maybe this is all their reaction to that?
Fear is their favorite control mechanism.
Mysterious ways.
Don't let'em get you brother, you're the one.
They will never take me!
This is not surprising. The SEC is one of the most rogue organizations in the US Government not that anyone cares.
This assertion that something is illegal outside the US because it can come into the US is absurd.
Nevertheless, your message is true. It would be hard to start a project now. They are intent on shutting things down. This is why I think the US already killed itself in the blockchain race.
Their ties to the bankers are going to force tech innovation to move out of Silicon Valley and head elsewhere.
Posted Using LeoFinance
Unfortunately, I think you may be right... They had every chance to embrace and they chose to regulate into the ground...
That is insane, and another reason why the $ needs to die.
They won't let that happen...
Since neither steem nor hive had an ICO I don't believe the ruling from the SEC applies.
Posted Using LeoFinance
U.S. citizens can buy anything they want to, right ? They can stop an ICO, but isn't there other options ?
Steem network to seize $5 million from its own users
A hardfork has been scheduled for May 20 which will seize the accounts of several Steemit users, and drain $5 million worth of STEEM coins from their wallets.