kaal:claim:3067615-029

The lack of a regulatory framework creates significant legal uncertainty in the ICO market, and because cryptocurrencies are censorship-resistant and arguably regulation-resistant by design, that uncertainty may sooner or later lead the Securities and Exchange Commission to declare ICOs illegal.

The lack of a regulatory framework creates significant legal uncertainty in the ICO market. Moreover, cryptocurrencies are censorship-resistant and arguably regulation-resistant by design,56

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017), IV.5 Legal Uncertainty, p. 19
https://ssrn.com/abstract=3067615 · source PDF

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615

• ICO market as of November 2017
• United States securities regulation

failuresupport: arguedfailure: Regulatory void and legal uncertaintyfamily: innovation-chillinglaw-and-legal-systemssecurities-law

• specializes kaal:claim:1806252-018 A lack of regulatory guidance creates legal uncertainty, and legal uncertainty in turn generates transaction c...
• extended_by kaal:claim:3782201-030 The more decentralized products are, meaning more censorship resistant, autonomous, and beyond regulatory cont...

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