Reports by reports, bilยญlionยญaire Mark Cuban recentยญly pointยญed out that the ongoยญing attack on crypยญtocurยญrenยญcy crypยญto tokens by SEC and the Unitยญed States Govยญernยญment would in the end not work.
Cuban: SEC attacks on crypto tokens wonโt be work
Mark Cuban respondยญed to a crypยญtocurยญrenยญcy enthuยญsiยญast, Rodriยญgo, who tweetยญed that the SEC plans to regยญuยญlate the crypยญtocurยญrenยญcy space using โ third parยญtiesโ proยญnounceยญments withยญout involvยญing the project creยญators.
The user, Rodriยญgo, highยญlightยญed the examยญple where the SEC argued that FIL is securityโthe SEC sent a letยญter to Grayscale withยญout offerยญing Fileยญcoin the opporยญtuยญniยญty to respond.
Rodriยญgo highยญlightยญed othยญer past casยญes of Wahi, Bitยญtrex, and othยญers where the SEC alleged that some crypยญto tokens are secuยญriยญties, even withยญout involvยญing the crypยญto token providers.
Although while respondยญing to the stateยญment, Mark Cuban pointยญed out that the attacks wouldnโt work on the Fileยญcoin chain and chains with their crypยญto tokens.
โTake the receipts and use them to proยญvide liqยญuidยญiยญty using Decenยญtralยญized Finance to train the crypยญto token, and then disยญsolve the origยญiยญnal entiยญty that releasยญes the token.โ
Mark Cuban, investor.
Mark Cuban insinยญuยญates that the SEC and Govยญernยญment can do nothยญing once the crypยญto tokens are in cirยญcuยญlaยญtion and the founder decides to close down the entiยญty.
Cuban thinks that once that is done, the crypยญto token achieves full decenยญtralยญizaยญtion. As a result, there would be no way of essenยญtialยญly restrictยญing the token.
After sharยญing his senยญtiยญment, the bilยญlionยญaire requestยญed for opinยญions on the subยญject from the comยญmuยญniยญty.
The conยญsenยญsus was that the secuยญriยญties laws in the Unitยญed States had been designed unfairยญly. 1 user sugยญgestยญed that projects need just to exclude the U.S.
SECโs complaint against Filecoin
The Fileยญcoin crypยญto token issues with the SEC startยญed when Grayscale made a regยญisยญtraยญtion stateยญment with SEC.
Nonetheยญless, on May 16, the SEC sent a letยญter to Grayscale indiยญcatยญing that FIL, Grayscale trustโs investยญment is a secuยญriยญty. Hence, SEC requestยญed Grayscale to withยญdraw the regยญisยญtraยญtion stateยญment.
The most recent comยญplaint was in response to a release on May 17, where Grayscale announced the ongoยญing issues with Fileยญcoin in a press stateยญment.
