Leister

I want to launch a cryptocurrency and it's going to be on the Ethereum chain.

I'm not going to do a presale.

It's going to be a fair launch token under that situation as written.

If it's just a regular token, fair market value, it's not peg stable.

There's no presale.

I'm not promising a blockchain.

I'm not promising a product.

So you can even think memes, right?

Under the way this is written, it's a digital commodity because it's tied to a blockchain.

It would not be an investment contract because there is no expectation.

You're not investing to get something.

It's just a token that's out there.

Under that, the CFTC would regulate it as a commodity.

a different project this project says we're going to launch on ethereum later we're going to give you a blockchain of our own we're going to go straight our own blockchain but step one we're going to go on ethereum we're doing a pre-sale now to generate funds for the blockchain onto the way it's written that is absolutely a digital commodity the moment it launches the moment they launch a pre-sale

Before they have any product, SEC steps in and says, now we're going to watch and we're the watchdogs to make sure that what you're doing, because it's a security until and it's an investment contract until you deliver what you said.

You're making these promises.

We're going to watch what promises you make.

We're going to watch what claims you make.

And we are the oversight on this one.

If they don't launch a blockchain, at least as written, that issuer is criminally liable.