It reads like the SEC are paying to write this article. Given the SEC have allowed banks in 2008 to wipe $4trillion of value from hard working peoples pension scheme, savings and asset values without recourse. Most believe the SEC kill innovation because they want control, the few white elite power brokers that get worried when the people come together.
The SEC has allowed VCs to create the biggest Ponzi scheme of all and with other agencies recently tried to blame WannaCry on Bitcoin to discredit it, yet the origins were from another agency and the US was not impacted. It is all a big attempt to stay in power.
The arguments against ICOs are weak as it is the people that want a different system and nobody is forcing them to invest. And why crowdfunding has become popular despite the risks. Most crypto investors are smart people and the know the current system doesnt work and the SEC does nothing to provide confidence to the people. Bankers are creating another sub prime bubble with Student Loans and Car Finance being repackaged and where property valuations in major cities cannot be sustained.
ICOs are a form of crowdfunding, where the crowd decides, not regulators, bankers middlemen that have an agenda and stand with their hands out to be paid. The only people that benefit from the current system are those that want the gravy train to continue. The SEC’s immediate reaction is to stop anything they cannot control. Well the genie is already out of the bottle and despite the SEC best efforts ICOs will continue and Bitcoin will thrive, because the people dont see the value the SEC and other regulators bring, all they see is the growing debt bubble and where central banks since 2008 have printed $12trillion of new monies to prop up a global fractional reserve banking system that no longer works.
Long live innovation, long live ICOs where the crowd decides not a fat balding white bloke with a big pension and expense account.