The SEC has is not protecting the “Mainstreet” investor, me.
Digital assets have real and meaningful benefits for society and the SEC needs step back while providing guidance to support safe innovation. The blockchain is open, accessible to anyone who follows the rules of the network to contribute in it’s value creation. It will unlock wealth creation for anyone around the world with an internet connection.
We don’t need saving from the new business models emerging through blockchain ecosystems such as Kik’s Kin, Ethereum, Bitcoin, Basic Attention Token and Grams.
If I positively contribute time or money into a law abiding, safe community network such as Kin or Ethereum, the network participants should be free from harassment by the Securities and Exchange Commission (SEC).
What is the ratio of lawyers to engineers and network experts who helped the SEC form their legal opinion against the Kin Ecosystem. The technology takes investment to write code, create partnerships and maintain servers. $100 Million dollars is probably the right price to build Kin’s blockchain, thus Kik had to raise it. The SEC is stealing INVESTOR money by drawing out a long legal battle. The SEC feels equally complicit of fraud in this case.
Kik’s September 2017 sale of Kin to the general public was denominated in Ether, and Kik received approximately $50 million worth of this digital asset. (Page 5)
The price of Kin has declined +90% in value because of the SEC. Kin has no access to liquidity on trusted exchanges like Coinbase, Binance US, Kraken, Bittrex and Poloniex because of SEC legal pressure. Kin is being sued in court, creating uncertainty in Kin’s future and the Blockchain space at large.
The SEC is not succeeding in it’s mission by ensuring disclosure, fostering regulated crypto markets and protecting consumers from scams. The SEC should not be shutting down innovation happening within Kin.org/stats.
We need to let the SEC know we deserve to be heard and communicate to the commission that as investors, we need to be consulted. Please fulfill your mission.
The SEC is mandated to protect you, does your investment feel safe? Sign the petition on Change.org : http://chng.it/bBCcghNzLm
Published at Sat, 12 Oct 2019 16:04:36 +0000
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