MetaZ@nftcx2
Disagree.
The potential risks of meme coins are exactly the risks of freedom. Everyone can see, that under the influence of political correctness, how the moral principle of free speech is dividing the USA.
However, we still cannot try to solve the current problem from the perspective of restricting free speech. Just as, we still cannot use the risks of meme coins as a reason to limit spontaneous consensus, no matter how ridiculous or misunderstood this consensus is.
It’s not that meme coins led to the government’s strict regulation of the crypto industry, but that those “responsible” and “professional” investment institutions and trading platforms (including F, B, C... and it could also be A).
Because in the past for decades, it has been professional venture capital institutions with a scale of trillions of dollars that have been conducting the Howey Test, not the SEC.
Because only the start-ups that meet the following criteria may be included in the VC's investment list-- an “investment contract” exists when there is the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others. That is what the U.S. Supreme Court’s Howey case and subsequent case law have found.
In other words, as long as the main financing channel for the crypto industry is through VC, it will inevitably be trapped by the Howey Test and then be subject to outdated securities regulatory tools.
So, as an influential professional investor, Sir, please do your job:
1, Lobby legislators to establish friendly laws for the crypto market;
2, Fight against the SEC that clings to the Howey Test;
3, Tell it honestly your Investors that investing in Web3 and crypto likely means investing in a future where VCs disappear entirely.
And, please be merciful to those who play with meme coins. They invested today's bread money to buy a lottery ticket. However, considering that they have no chance to get bonuses from Wall Street, even if the money remains in their hands, they will not be able to buy bread for tomorrow.
