Ok let's break that down. Short term any other thing but complete exoneration is completely horrible for kin. Any of those things above happen , you put project in limbo ( as it is now) and most businesses won't touch it. They get a security designation and it's done for bc part of that will be returning funds to us investors and no interactions with us persons OR exchanges.
That women who wrote article quoted 20% because they're involved somehow. I'd venture to say that's a great piece of info to have if you are betting against kin. If they don't get exoneration in next few weeks, no matter what happens down the road with court, it's going to drop very hard.
...20% odds are just based on historical wells notice / commission vote ratio. So if it goes to commission vote (80% chance it does), you can still have two vote against enforcement which is totally plausible here given the three other than Clayton are pro-crypto. That would be a great result - you're basically in the clear, though without any real regulatory clarity for others. If it settles you might get a decent result - a fine for issuing unregistered securities at the outset, but perhaps conceding it has since reached non-security status (or, you might not). If it goes to court it would take years to end up with a decision yes/no on security status.
Yes, that would be the case if it goes to litigation. But for the other scenarios - decline to vote on prosecution, decline to prosecute, positive settlement, you'd be fine. The security status of everything is uncertain, including stablecoins which isn't stopping Facebook and others.
Well you're wrong there. The stablecoin, like fb coin, is definitely not a security. Zero value increase from work of others. It's just a stand in for fiat basically and the way you could benefit is from an increase in fb share price due to increased usage of platform as a whole. The fb coin, to me, is just an advertisement. They need ppl to buy stock
In the NYAG suit against Tether they specifically state that stablecoins have characteristics of securities actually. Securities aren't only things that go up in value, certificates of deposit and derivatives as well, since it's basically just a token that represents an agreement with someone. It's like an IOU. Definitely some uncertainty.
But yeah we shouldn't bank on Kin winning anything.
The nyag suit against tether is ridiculous and ny is ridiculous itself. Today nys supreme court ordered all tether to be stopped from flowing into bitfinex. Why do you think ny is spearheading this? Because that's where wall street is and they want their own stablecoin us $ backed project in there, not tether.
I meant more along lines of a direct promise of return from someone else's work. We shall see, odds are bad bad
I think we all forget that when we compared the 10T coins supply to the the tech and the project direction we all knew that it will take minimum 3 years to get good gains on this, so please remember that
"Thus, the SEC may have a hard time demonstrating common enterprise between Kik and token purchasers — unless they can come up with evidence showing that Kik had obligations to purchasers after token delivery."
So yeah. No obligations.
Stirring public interest only because they are confident.
She sits on the board at Coinbase who just added Kin to custody.
Not only did she spend years in those departments she still knows all those people.
I think this is a slam dunk and the beginning of marketing the "win" right before the announcement.
This is a very interesting timing and release of a very well written article. Not to mention the heavy hitting author. For color: she "spent a decade as a federal prosecutor focusing on fraud, cyber, and corporate crime alongside agencies including the SEC, FBI, and Treasury. She created the government’s first cryptocurrency task force and led investigations into the Mt. Gox hack and the corrupt agents on the Silk Road task force."
People in the tech space have all heard of Andreessen Horowitz, a16z is basically the 350M Crypto venture fund of AH. What give though right, why would a GP write such a pro-kin article through a16z, who doesn't calls out Kin as their portfolio. If you follow the cookie crumbs and go to the AH portfolios, you will find that beneath their mutliple ventures, Polychain is listed on there. Then it all makes sense. I think it's easy to forget, thorough our daily price and lack-of-exchange complaints that there are big players involved here. Honestly having Anderson Horowitz and a GP of the a16z fund coming out of the woodwork with this type of release really gives me some confidence on sticking around on this project. Love it!
Anyone in the Crypto industry - investor, entrepreneur, etc. would be pulling for Kik here. Has nothing to do with specific portfolio interests. What they want is both exoneration and clarity on the rules, not just another special case asterisk.