To investors, BlockFi, a leading crypto lending company, announced yesterday that they have reached a resolution with the SEC pertaining to the regulatory scrutiny that they have faced over the last 8 months. As many of you know, I am a large investor in the business, but today’s letter is only my personal opinion. I do not speak for the company and nothing below should be attributed to BlockFi or their team.
I'd like if you could go more in-depth in a follow-up about what registering as a security would mean for industry participants. How long does the approval process typically take, what it means for companies, how it might effect the yields they're able to offer because of the cost burden associated with registering/upkeep, etc. I feel like I hear a lot about the potential for the SEC to force security status on different tokens or offerings but not a lot of hard specifics of what that means practically.
probably worth mentioning on a post like this that you’re sponsored by them so folks understand the fullest context.
Hey Pomp, how is this making me BTC or ETH?
I'd like if you could go more in-depth in a follow-up about what registering as a security would mean for industry participants. How long does the approval process typically take, what it means for companies, how it might effect the yields they're able to offer because of the cost burden associated with registering/upkeep, etc. I feel like I hear a lot about the potential for the SEC to force security status on different tokens or offerings but not a lot of hard specifics of what that means practically.
Please note we do not allow purchases from USA and other restricted countries ! ! !