Securities Act of 1933 & Securities Exchange Act of 1934 remain the law
While Ripple Labs intends to spend a billion dollars in marketing to avoid compliance, Securities Act of 1933 & Securities Exchange Act of 1934 remain the law. Unfair competition from unregistered securities promotes widespread delinquency.
Great Depression started in 1929 featuring similar bubble conditions as we experience in 2022. During almost a century, rules and regulations on securities registration and disclosure facilitated a robust framework for the uninterrupted bull market we grew accostumed to.
Market agents became proficient on abusing of loopholes present in Securities Act of 1933 & Securities Exchange Act of 1934, until a narrative of obsolence was sufficiently deployed to justify breaking the law at all times. Lack of transparency entails widespread scam.
Crypto asset securities must be registered at the Securities Exchange Commission. Names and addresses of core team members must be readily available. Detailed accounting statements regarding use of funds deposited by investors must no longer be secret. It's fair law.
Updated legislation regarding securities and commodities may address tangential amenities brought for by technological advances. However, timelessness in current Securities Act of 1933 & Securities Exchange Act of 1934 must be as protected as the U.S. Constitution.
Crypto asset securities promoters might envision a planet devoid of rule of law. Pretending that blockchain transactions are immune to anti money laundering or counterterrorism efforts favors malicious actors. We must defend our right to sue whoever steals hard earned property.
No crypto asset securities promoter is establishing a rigorous program to investigate massive fraud. Scammed consumers are dismissed as not having done their own research. Refusal to disclose details on business practices is grounds for us to broadly distrust ponzi promoters.
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