Decentralized media - SEC Sues LBRY

By mummyrio | SIDECHAINNEWS | 1 Apr 2021

SEC sues Lbry for selling over $11 million token sales. First, SEC sues ripple company for the same case. Cryptocurrency will face more problem with regulation in the future. It is not because of the tech but some parties that close to the authority are looked to be competed by decentralized platforms.


Cryptocurrency stand on its own. No government involve in it. That is why some crypto developers chuonsider selling token without registering to SEC will not be problems. Thus who will be charged when a 100 decentralized platform sell tokens for usd? Like hive with its token, there are no central developers who are responsible for selling tokens. How SEC will reacts to the mass adopted similar platform? Do SEC will sue the users? While the users are world wide, SEC is impossible to sue the users.


On the other hand, decentralized media is not under a company control. Will a government ban the domain name? it can be passed by using apps in pc or handphone. Government will loose the energy just to fight decentralization. One thing should do is working together with decentralized developers to make friendly regulatian. Friendly regulation does not mean to let all things from decentralization but to control the violation. Selling token in decentralized platform is free. No authority that can ban as long as the selling meet the system requirement. How to ban selling token at uniswap ? Every developers can list the token in uniswap. Will authority close uniswap? It is impossible. Uniswap developers can clone the site in many other form or many new developers will create the same platforms.

Decentralized media like hive and others are true independence platform. No one is responsible for the platform. As long as there are many people runs the nodes, the platform will be online. Selling tokens in decentralized media can not be banned too. 

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