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1/ "Is this token a security?" has always been the biggest regulatory issue for crypto in the USA. The SEC's top priority should be answering that question with a safe harbor for token issuance. Today, @fund_defi sent a letter to the SEC on how a new safe harbor could work đ
We @fund_defi wrote 5 guiding principles for the @SECgov Crypto Task Force to consider as they implement a Token Safe Harbor for projects *intending to decentralize*, which include proposed eligibility and exit criteria. Check it out and tell us what you think in our feedback
đ Today, DeFi Education Fund submitted to the @SECGov Crypto Task Force guiding principles for a âToken Safe Harborâ for projects intending to decentralize. Why is this important? What are your thoughts? See đ§ľâŹď¸ https://t.co/7cxNHG7VVs
The SEC Crypto Task Force has received multiple submissions from key industry participants addressing regulatory issues in the cryptocurrency sector. Paradigm, a crypto-focused investment firm, responded to the SEC's inquiries on Miner Extractable Value (MEV) and baselayer markets. The DeFi Education Fund submitted a letter proposing guiding principles for a "Token Safe Harbor" designed to protect token issuers who intend to decentralize their projects. Their proposal includes eligibility and exit criteria for such a safe harbor. This initiative aims to clarify the regulatory status of tokens, a longstanding challenge in the U.S. crypto market. Legal expert Jake Chervinsky emphasized that the SEC's top priority should be establishing a safe harbor for token issuance to resolve the question of whether a token qualifies as a security.
