Opinion: Shin Molidor, Founder,
For years, the launch of an encryption project in the United States was a maze of uncertainty. It pushed the legal ambiguity and the organizational environment hostile to the founders abroad, as they turned into places such as Switzerland and the Kayman Islands into global centers to innovate Blockchain.
With Trump’s election, things finally began to change, as a public American administration announced its intention to be a friend of encryption. However, despite the speech, nothing has changed so far.
The launch of an encryption project in the United States is difficult as it was always. American organizational agencies still provide anything but mysterious threats and “organizing through implementation.” America wants to be a leader in Crypto, but even under the Trump administration, it does not take measures to create conditions that would occur.
The encryption was killed in America
Each project encodes the same basic problem: achieving decentralization is crucial to avoid organizational scrutiny, but until the project releases the distinctive symbol, a central degree is inevitable.
SEC’s outdated Howe’s Howwey test ensures that almost every legal encryption project is classified as safety. Logic is the defeat of the self. Decentralization projects cannot be launched without launching a symbolic symbol, but launching a symbol in the United States immediately puts them at the intersection of the Supreme Education Council.
This is not just a theoretical issue; It has real consequences. The liquidity suppliers, essential for all new symbolic launch operations, will not deal with the US -based projects because they suppose their distinctive symbols will be classified as securities. Central stock exchanges refuse to list the symbols from American entities for the same reason. Even decentralized stock exchanges face pressure from their legal teams to avoid liquidity seed actively for American projects. The result? The founders of the United States are mobilized from the global encryption economy before they start.
Judicial authorities abroad win
This regulatory failure was born in a full hut industry for marine legal companies specialized in creating entities to issue a distinctive symbol. Through the Finma No-Action, Switzerland has become a hotbed for encryption projects because it provides one of the few organized methods to obtain legal clarity on the classification of the distinctive symbol. The Kayman Islands and the British Virgin Islands also established itself as safe ancients for encryption, providing flexible companies that allow projects to work with much lower regulatory risks.
recently: The US Treasury wants to cut Huione on relations with Crypto Crime
Tampering is that actual work – development, employment, innovation – still happens in the United States. The distinctive symbol version is paid abroad through “associations” and “foundations”, which serve non -profit organizations that work independently of the US -based development stores. American founders are forced to transfer money into unnecessary legal fees, operators abroad and Shell institutions to avoid the inevitable campaign of American organizers. This is not only bad for encryption. It is bad for America. Until it can be solved, the United States will continue to bleed talent, investment and influence the states of Qasr al -Narry.
Make America a friend of encryption
The United States has spent years in the encryption policy, and now, even with an administration that claims to be in support of rent, it still fails to make a real change. The solution is not promised to taxes on capital gains on encryption, as some suggested. This is not mentioned to improve the punishment of the US -based US -based organizational projects. If the United States really wants to lead to encryption, it must also take the initiative to provide organizational clarity.
This finally means realizing that the same regulations governing traditional financial markets cannot always be applied to encryption. Howwey Test does not work. Instead, the government must submit a new and practical legal framework for the encryption industry.
It is time for American legislators and organizers to admit that the distinctive codes of encryption cannot achieve decentralization immediately, and it always requires the efforts of a team of primary shareholders in the first growth and development of armament. The federal government should put a copy of the Howyy test, which automatically does not classify each new encryption code as safety, but instead allows the symbols for a period of grace. In conjunction with this, the United States must create a new protection to ensure that the well -informed people are unjustified unjustified from encryption projects while expanding its scope.
In addition to ending the “organization by enforcement” quickly, it works during the Gary Gensler’s SEC, a tactic that appears to be gradually designed to gradually strangle the encryption activity in the United States, the government must provide clear guidance. It should be feasible for market makers to assess whether American symbols are goods or securities with a degree of stability and prediction. This is the only way to end the manufacturers of banning the blankets market that the market makers have placed on American symbols and redevelopment of encryption to America.
American opportunities window closes
The founders of the encryption are not waiting for Washington to find out. Every day, without clear regulations, more encryption projects are combined abroad. The United States does not even need to “embrace” encryption. He just needs to actively stop his leadership.
If this administration really wants to make the United States the leading Crypto, it needs to overcome the slogans of the campaign and start fixing the basic problems that forced this industry abroad in the first place. And he needs to act quickly.
Opinion: Shin Molidor, Founder, Osad.
This article is intended for general information purposes and does not aim to be and should not be considered legal or investment advice. The opinions, ideas and opinions expressed here are alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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