SEC公司融资部就Canton Coin符合条件铸造出具不建议执法立场
SEC公司融资部在特定事实和条件下表示,不会建议就Canton Coin(CC)的相关铸造采取执法行动,并将其视为数字商品。该函不构成CC是否为证券的法律结论。
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Miles Jennings Miles Jennings is a16z crypto's Head of Policy and General Counsel, advising the firm and its portfolio companies on decentralization,DAO DAOs, governance,NFT tokens, as well as U.S. state and federal securities laws. He has worked in crypto law since 2017 and previously worked at ConsenSys. Before that, he was a partner at Latham & Watkins, where he co-led the firm's global Blockchain and Cryptocurrency Practice. He has designed investment structures for multiple crypto investment firms and served as legal counsel to dozens of related startups.
Miles Jennings Miles Jennings is a16z crypto's Head of Policy and General Counsel, advising the firm and its portfolio companies on decentralization,DAO DAOs, governance,NFT tokens, as well as U.S. state and federal securities laws. He has worked in crypto law since 2017 and previously worked at ConsenSys. Before that, he was a partner at Latham & Watkins, where he co-led the firm's global Blockchain and Cryptocurrency Practice. He has designed investment structures for multiple crypto investment firms and served as legal counsel to dozens of related startups.
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SEC公司融资部在特定事实和条件下表示,不会建议就Canton Coin(CC)的相关铸造采取执法行动,并将其视为数字商品。该函不构成CC是否为证券的法律结论。
a16z Frontier、DeFi Education Fund and Uniswap jointly submitted a comment letter opposing the Illinois Digital Asset Tax Act and proposed rules, arguing that they could classify DEX as brokers responsible for collecting taxes.
X account @milesjennings posted: “Today, @a16zfrontier, @fund_defi, and @uniswap stepped into the fight against the Illinois Digital Asset Tax Act. The law is already one of the most anti-innovation bills in the country—a tax on transactions just because they're digital. Now, it's being made worse through politicized rulemaking that goes well beyond what the law approved—the draft rules would treat many decentralized exchanges (DEXs) as tax-collecting brokers. That approach isn't possible to comply with: autonomous software is not a person that can collect a tax. The approach also conflicts with the U.S. Treasury Dept’s classification of DEXs and Illinois’ own Digital Assets and Consumer Protection Act. The rules also tax Illinois resident's when there isn't even a transaction. That’s like being taxed for moving money from your checking account to your savings account. Consumers and entrepreneurs in Illinois deserve better. Fortunately, @CCI and @BlockchainAssn are also challenging…
X account @milesjennings posted: “I wonder why a legacy institution would tell its clients that they shouldn't use a competitive service.”
X account @milesjennings posted: “New markets often live or die based on this chicken-or-the-egg problem — They need quality assets to attract users, but they need users to attract issuers' assets. Permissionless markets can more easily overcome the cold start because they face fewer supply constraints.”
X account @milesjennings posted: “This isn't surprising. The incentive for issuers to consent to tokenization of their stock under the SEC's Innovation Exemption are weak –– they may get 24/7 trading, but that trading occurs on US venues rather than in new global markets, so there's no net new demand. But issuer objections aren't going to stop this train. There are many legal pathways to bring securities onchain that don't require consent and that aren't subject to the SEC's jurisdiction. Someone could even build a permissionless protocol that does so. So, if the SEC wants to maintain oversight of US securities markets, it needs to create an approach for tokenization that delivers the full benefits of onchain markets –– atomic settlement, 24/7 trading, global liquidity, etc. Supporting permissionless trading of securities through DeFi systems would accomplish that goal, and doing so would create the incentives for issuers that the innovation exemption lacks. https://t.co/zZGn9bg3F3”
X account @milesjennings posted: “The financial system is moving onchain, whether legacy finance likes it or not. @Ripple just joined @circle, @BitGo and @DigitalAssets with a national trust charter. And the OCC opened the door to rewards on stablecoins far wider than CLARITY. https://t.co/643lnA41tT”
X account @milesjennings posted: “Utah makes 10. Fifty states applying their own laws to the same markets is madness. Congress gave the CFTC exclusive jurisdiction over contracts traded on registered exchanges. Good on the CFTC for defending its territory. https://t.co/TUyMExzIE1”
X account @milesjennings posted: “Patrick worked tirelessly for crypto. No matter how difficult or unfair the problems thrown at the industry were, he stepped up with pragmatic solutions and leadership time and time again. Thank you, Patrick.”
X account @milesjennings posted: “The crypto industry owes Commissioner Peirce a debt it will never be able to repay. Thank you for your service!”
X account @milesjennings posted: “You don't hate the banking industry enough.”
X account @milesjennings posted: “Kevin worked tirelessly with industry and Democrats in shaping CLARITY, always prioritizing pragmatism. Grateful to have had the opportunity to work with him.”