“The reality is that #tokens are a digital file format, like a pdf or spreadsheet, and can store many kinds of value. They are not intrinsically #securities, just as every sheet of paper is not a stock certificate.”
This is precisely what we have been saying for years. However, now that we know it is merely an “advanced sheet of paper”, what exactly is everyone selling or buying? We ensure that every sheet of this “advanced paper” is the legal title to a #RWA (real world asset), so that there is no doubt as to what it is.
But if you fail, or choose not, to unequivocally identify what the “advance sheet of paper” is, then you are exposing yourself to the risk of what the authorities may determine it is. In the worst case scenario, you may be in danger of committing fraud because you did not deliver what you professed to be selling.
Know what you are buying and/or selling!
DeFi Exchange Uniswap Receives Enforcement Notice From the SEC
