Over the past few years, significant excitement has surrounded the innovative promise associated with the development of blockchain networks and the crypto tokens most often used on them. However, the SEC has sent mixed messages to developers of such technologies about whether crypto tokens used on those networks will be deemed securities subject to onerous SEC regulation and oversight. This uncertainty has caused some to move development efforts outside the United States, and many others to bemoan what is viewed as yet another instance of regulators stifling innovation.
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