Chris Dixon
@cdixon.eth
I wrote an oped in The FT. My goal isn't to defend or to diminish memecoins. It’s to point out the backward incentives of a regulatory regime in the US that lets only memecoins thrive — while companies & tokens with more productive uses face hurdles. https://www.ft.com/content/1ceaa1c6-47df-4430-950e-ffcbf1cc8f7b
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@afl
"The answer isn’t less regulation — it’s better regulation. Specific solutions include adding well-tailored disclosures to provide regular investors with more information. Another solution is requiring long lock-up periods to prevent get-rich-quick schemes." Thanks for fighting the good fight, Chris.
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Bill
@billhepworth
Do these feel like band aids? Are there any discussions about getting registered as decentralized by the SEC so that the third prong of Howey is not met? Or avoiding the first prong with exceptions for crypto awarded for participating in the network (assuming that participation was compensation/consideration itself)?
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@afl
I don't think they are just band aids. I see them as necessary starting points and broad compasses, builders working together with policy makers to help shape legislation for the better. Legislation is coming either way, so it's better that it's implemented in a way that encompasses the domain POV.
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Bill
@billhepworth
I meant more that they are too lax. They contain loopholes that would circumvent the SEC for both web3 and most other businesses. However people might feel about the SEC, I thought the goal was ‘good regulation’ and this just looks like an exemption for crypto that can easily spread outside of it.
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