The main reasons for refusal from the SEC were:
2 Poor protection of investors
3 The complexity of detecting and preventing fraud
4 Centralization - more than 50% of coins in circulation belong to no more than 1,000 people
5 Manipulation in the market
6. Lack of common standards for KYC, AML, agreements on transactions.
They will not be eliminated in Augusts so I expect a postponement of the final decision.
I defined eight basic levels of cryptocurrencies. What you think about it?
Tier 1: Bitcoin & Ethereum
Tier 2: Tokens representing real crypto platforms (Cardano, IoTA, Waves, ...)
Tier 3: Tokens backed by real business (Ripple, ...)
Tier 4: Tokens with narrow specialization like payments, anonymity, etc. (Monero, Zcash...)
Tier 5: Growtech forks (Neo, Stellar, ...)
Tier 6: Miners' forks (Bitcoin cash, ...)
Tier 7: Hyped Tokens (Tron, Dogecoin, ...)
Tier 8: Useless shitcoins
We are Jetomics, the crypto trolls, who came into this world to right all crypto crap.
Bitcoin Maston Instance