Uh, goys

They shouldn't fucking need to because I should be able to buy and sell my own shit that I own myself REEEEEEEEEEEEE

well, user, money is involved so (((they))) need their tithes

>Do my homework for me.

"An accredited investor is a person or entity that can deal with securities not registered with financial authorities by satisfying one of the requirements regarding income, net worth, asset size, governance status or professional experience. The term is used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by regulatory disclosure filings. Accredited investors include natural individuals, banks, insurance companies, brokers and trusts."

The key word above is "can", the implication being that non-accredited investors "cannot".

Coinbase can do this but there's nothing for them to offer lol. All shitcoins will be deemed illegal securities because they didn't take the necessary steps to become SEC compliant. This is the key piece of information that people keep forgetting/ignoring.

>The SEC prohibits the resale of restricted, unregistered and control securities, unless they are registered with the SEC prior to their sale, or they are exempt from the registration requirements when five specific conditions are met.

You have proven me wrong user, all shitcoins are unregistered securities and this is actually worse than I thought

What do I win?

Nothing yet. What are the implications? Registered platforms cannot list unregistered cyber securities? Burgers banned from unregistered trading platforms?

Yes the point is you can buy securities as a non accredited investor

But those securities have to be approved and have gone through various checks and balances ie not shit tokens which represent thin air

It's going to be one hell of a storm, and yes the SEC don't own the world. But other countries will likely follow as securities laws as largely the same around the world

>regulation causes crypto to become like stocks
>everything will be slow as fuck now
I hate the government so god damn much

We don't know what will happen yet.

He made it clear they would be subject to the existing rules. They have been doing this for a long time user. Without fulfilling the specific conditions of rule 144 I don't see how burgers will be legally allowed to participate.

Yeah, seems like they already aren't. For the time being though, I take written documents on the SEC website more seriously than a televised interview. The SEC ICO page does not say "do not invest in ICOs, they are securities", it says "what to consider before investing in an ICO". It's possible he was engaging in some fear mongering. He's also not the entire American justice system. A project with enough capital could perhaps appeal the utility stamp in court.

This is where it gets increasingly complicated. Let's say hypothetically that Chainlink manages to be classified as a utility. What does it mean that it was purchased with ETH if ETH is a security?

He's the head of the SEC lol and he seems like a smug prick.

ChainLink is a security. It's not a bad thing, since they have an actual product in the works. The sec is just going to end the literal vaporware

Why do I need to be rich to gamble on stupid shitcoins?

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Dude, they don't give a fuck. Even if an ICO accepted the US dollar in exchange for some tokens, it's still considered a security. It's the idea that the creators of that ICO offered an unregistered security to the public, that's the kicker.