Jake Chervinsky
@jchervinsky
What do you not understand about crypto law or policy that you wish someone would ELI5?
22 replies
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woj
@woj.eth
is dropping a token legal or not
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Joe Blau 🎩
@joeblau
Yes
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links 🏴
@links
It depends. That’ll be $500 plz
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J. Valeska 🦊🎩🫂
@jvaleska.eth
and what happen with game points being an erc20? will they differentiate the container (erc20) and the content (game points or any other) does the law allow devs innovate using these primitives, or an erc20 is a token and this is not negotiable? using a token launcher resource from a third party is enough to be safe? (and what would happen under mica in europe, same question)
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Jake Chervinsky
@jchervinsky
SEC will say "all tokens are securities" but that's baked in by now. If you're afraid of the SEC, find work elsewhere. Then, two questions: (1) what does the token do and (2) how is it distributed? You want strong arguments on both before dropping the token so you can feel confident you'll win in court if SEC attacks.
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Kieran Daniels
@kdaniels.eth
Depends on which government you are controlled by
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Ramsey 🎩🤝
@ramsey
thank you
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parseb
@parseb.eth
Is a value accrual mechanism sufficient to make an ERC20 a Gary-Sad coin? (Assume immutability and no information asymmetry to the biggest extent possible.)
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Callum Wanderloots ✨
@wanderloots.eth
My understanding is that it depends on the jurisdiction and the type of token - in particular, how profits are dispensed relative to token ownership MICA in the EU is more lenient than the Howie test in the US
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Tmophoto
@tmophoto
Depends where you live and how much you allocate to you and your friends.
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