Re: Unlawful Unregistered Securities, DID and VC

Well I’ve said before that it looks to me like all but a dozen or so did methods are really just marketing for “me too cryptocurrency ponzu schemes” 

Feel a like a government blacklist is more than enough rationale for w3c to remove those methods from the register 

Probably a lot more ought to get shot too but it’s not obvious what is the fair criteria for shooting 

Steven Capell
Mob: 0410 437854

> On 7 Jun 2023, at 8:02 pm, Melvin Carvalho <melvincarvalho@gmail.com> wrote:
> 
> 
> This issue has been raised previously, but the severity of the situation has escalated recently. The US government has started taking legal action against companies that allegedly promote unregistered securities, as outlined in this document: 
> 
> https://www.docdroid.net/I02zzqT/sec-v-binance-4-pdf.
> 
> Specifically, twelve blockchains have been named: BNB (BNB), Binance USD stablecoin (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Cosmos Hub (ATOM), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity (AXS,) and Coti (COTI). There may be more beyond this list.
> 
> What is particularly disconcerting is the visibility of many of these potentially problematic instruments under the auspices of the W3C logo, particularly in the DID method registry: https://w3c.github.io/did-spec-registries/. It's worth noting that many of these also finance standards work. 
> 
> In securities law, the attitude of "If you think something is illegal, don't use it" is insufficient. The potential risk here is that W3C's reputable image could be tainted by these developments. Urgent action is required to rectify this situation.