> IMO those of us who invested in the DAO should lose our investment. We fucked up and we deserve the loss, and if people see that real money was lost, perhaps they will be more judicious in the future with their investment decisions. I certainly will be.
This raises an interesting question. Bitcoin is (IMO correctly) fairly widely considered to be a commodity by regulators. So what's DAO? In my mind, it sounds a lot like a security. This is all speculation on my part, but, if DAO is a security, then in the US, shouldn't securities law, including Reg D, apply? Securities law is, in large part, about protecting unsophisticated investors.
I know even less about German law, but, if I were slock.it, I'd be nervous.
(Securities law isn't the only thing I can imagine causing problems. What if DAO ended up being regulated under ERISA?)
Disclaimer: I am not a lawyer. I also am not giving legal or investment advice of any sort.
This raises an interesting question. Bitcoin is (IMO correctly) fairly widely considered to be a commodity by regulators. So what's DAO? In my mind, it sounds a lot like a security. This is all speculation on my part, but, if DAO is a security, then in the US, shouldn't securities law, including Reg D, apply? Securities law is, in large part, about protecting unsophisticated investors.
I know even less about German law, but, if I were slock.it, I'd be nervous.
(Securities law isn't the only thing I can imagine causing problems. What if DAO ended up being regulated under ERISA?)
Disclaimer: I am not a lawyer. I also am not giving legal or investment advice of any sort.