Re: Unlawful Unregistered Securities, DID and VC

út 13. 6. 2023 v 22:16 odesílatel Kim Hamilton <kimdhamilton@gmail.com>
napsal:

> I got one, thanks to a lovely person on the list. DM me if you need it too
>

For a more comprehensive understanding, I recommend reading the original
SEC guidance, which you can find at this non paywalled link:

https://www.sec.gov/litigation/complaints/2023/comp-pr2023-102.pdf

This document provides thorough case studies, including insights from blog
posts, Twitter posts, and transcripts. For an illustrative and relevant
example, you might find the Filecoin / Protocol Labs case study
particularly informative, which is covered in parts 163-189.

>
>
> On Tue, Jun 13, 2023 at 11:28 AM Kim Hamilton <kimdhamilton@gmail.com>
> wrote:
>
>> Non-paywall link please?
>>
>> On Tue, Jun 13, 2023 at 5:15 AM Melvin Carvalho <melvincarvalho@gmail.com>
>> wrote:
>>
>>>
>>>
>>> st 7. 6. 2023 v 15:20 odesílatel Michael Prorock <
>>> michael.prorock@mesur.io> napsal:
>>>
>>>> Personal hat firmly on, I would be a fan of removing the did registry.
>>>> Especially in favor of standardizing of few methods, such as did:web
>>>>
>>>
>>> That makes sense to me, Mike, as a possible way forward
>>>
>>> The Wall Street Journal recently published an article titled "The List
>>> of Crypto Coins the SEC Says Are Illegal Is Growing". The word "illegal",
>>> when used by such an eminent publication, commands significant attention
>>> and should not be taken lightly.
>>>
>>>
>>> https://www.wsj.com/livecoverage/stock-market-today-dow-jones-06-06-2023/card/the-list-of-crypto-coins-the-sec-says-are-illegal-is-growing-VDghHoLBchVk5hzYxox6
>>>
>>> Working groups and community groups, particularly those associated with
>>> reputable bodies like the W3C, should be vigilant about the materials they
>>> produce. It's imperative that such entities abstain from promoting or
>>> associating with these unregistered securities which have been deemed
>>> illegal. Given the gravity of securities laws and the extensive
>>> ramifications of their violations, we cannot afford to be complacent.
>>>
>>> Such a situation demands proactive action, and it's crucial to remember
>>> that the gravity of securities laws supersedes even the consensus within
>>> the W3C.
>>>
>>>
>>>> Mike Prorock
>>>> CTO - mesur.io
>>>>
>>>> On Wed, Jun 7, 2023, 08:34 Orie Steele <orie@transmute.industries>
>>>> wrote:
>>>>
>>>>> W3C operates on consensus, and the registry is a note.
>>>>>
>>>>> You are welcome to raise a PR removing an entry and provide your
>>>>> justification, if the working group can't resolve the issue, it can be
>>>>> escalated all the way up the chain.
>>>>>
>>>>> (Pun intended).
>>>>>
>>>>> The working group might also consider removing the method registry
>>>>> entirely, since it is not necessary for URNs to remain namespaces, and has
>>>>> been cited as a point of market confusion.
>>>>>
>>>>> Be the change you want to see in the world.
>>>>>
>>>>> On Wed, Jun 7, 2023, 5:25 AM Steve Capell <steve.capell@gmail.com>
>>>>> wrote:
>>>>>
>>>>>> 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.
>>>>>>
>>>>>>