Leister

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.

We're going to go after them because they did not launch what they said.

Here's now you asked, why are you so against it?

If we understand cryptocurrency issuance, and you can look at the data stats, the vast majority of issuance are from people that are not of the United States.

If we accept that stat,

that the vast majority of people, not in the United States, they're not going to be subject to this scrutiny because they cannot be, they can try to enforce it.

But if it's somebody out of Vietnam, that person is not going to be subject to us scrutiny period.

So it doesn't solve the underlying problem.

It simply doesn't.

It does allow central exchanges to be more confident transacting because those are largely secondary markets.

If the exchange is smart enough to build their web, to separate their, cause they have like launch pads and pre-sale things.

All you have to do is build your web to create a separate area for your launch pads and pre-sales and everything else.

Lock it behind a login.