Leister

It cannot fluctuate.

So at that point, you could not really do an algorithmic because an algorithmic constant fluctuates.

Even as you trade it, tether, it fluctuates.

You can see it fluctuate.

It's not a significant fluctuation.

in most transactions it's not of significance to where it matters but it still fluctuates in what they're defining they're defining a certain type of stable coin that is purposely built again lock step with fiat so lockstep with fiat it's however much cash you have available so that if we had to liquidate you we know that we're getting 100 of the money that's part of this process

Most are celebrating the separation of CFTC and SEC because in the way this classifies coming back to this investment contract business, you have stages.

So stage one, I have an idea.

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.