a16z's Brian Quintenz: Congress must provide clarity where the SEC won't
The Scoop
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The Importance of Decentralization in Cryptocurrency
I think what we don't want to have happen right is to have a law come on the books that allows you know JP Morgan to underwrite a billion dollars worth of tokens that are actually securities and then above a marketplace. We think there's a framework within Lomas Gillibrand that is interesting given that it defines commodities broadly which is appropriate but even securities are commodities. It's whether or not something is or is not a security that that carves it into or out of the SEC's jurisdiction so focusing on how to ensure things are not securitiesWe think is the right focal point, where a decentralized test would be helpful.
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