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SEC Allows ICOs?! Proposal to exempt tokens from securities laws
As you may have heard, SEC Commissioner Hester Pierce recently proposed an exemption for certain token sales from the federal securities laws. She introduced this proposal by comparing the blockchain founder’s dilemma to the time she drove through New Jersey on a stormy night while dangerously low on gas. In New Jersey, it’s illegal to pump your own gas. Initially, she was relieved by this arcane law, but the gas attendant decided that given the weather, he would not pump her