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 "text": "The SEC's reasoning against the Bitcoin ETF does not transfer to blockchain based private investment funds such as those built on Melonport, because such funds trade a diverse array of cryptocurrencies and reach a much more limited and accredited audience, which curtails investor risk.",
 "author": {
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  "name": "Wulf A. Kaal",
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 "citation": "Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110",
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