Let’s face it – blockchain and cryptocurrencies are here to stay and blockchain technologies will transform our world as we know it – much like what the Internet did about 3 decades ago. The world cryptocurrency market cap is reaching nearly $500 billion. Most of that is happening outside of the USA due to the uncertainty surrounding SEC’s long reach and the inevitable clamp down. This is most unfortunate. While the USA has been the hub of tech innovation in recent history, the tightening of the noose around crypto-based businesses is stifling what may be the most important technological revolution of the century. Granted, whenever there is frenzy, there will be the inevitable frauds – anyone remembers the Internet startup frenzy of the 90’s? Of course, there was a big fallout of Internet businesses, however, looking back, if the government had intervened and tightly regulated tech startups, we may still be using Lynx as a browser and the Tesla may have never seen the light of day. I strongly believe that the market will cleans and correct itself if left alone. I am a proponent of a clean marketplace, however, clamping down on, and intimidating crytpo businesses away from the USA market is not the way to do it. How about the Trump administration and the SEC create a simple smart contract on the blockchain to keep crypto businesses compliant? I am certain that most legitimate crypto businesses would welcome this, instead of yet another very lengthy and expensive bureaucratic process.

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