Hi all,
Before everything else, I must say, I am, in no way, an expert on the US securities market and financial regulations. The writer of this post is just a humble crypto enthusiast who is mostly interested in the strategical aspects of things.
As some of you might already know, the SEC classifying the crypto currencies that use PoS consensus mechanism as securities is a pretty hot topic. It has always been a popular issue among crypto people but Gary Gensler seems to be brewing something tangible on the matter.
Considering this thing becoming real as a strong possibility, I wonder how advantageous (or disadvantageous) it would be for Mina Protocol to be registered as a security to the SEC as an early bird (and more importantly, without being legally forced to do so).
I am of course in no position to assess the situation completely as I am not a team member but it seems to me like there might be some huge gains for MP in doing so.
The most obvious benefit is of course being the first crypto currency ever to be a registered security in the US and thus having the entire market until others realize the opportunity (and staying as the top dog even after others join the party).
A second benefit of such decision would be freeing Mina Protocol from any possible SEC-related FUD.
I am sure there are disadvantages (especially on the operational side) as well but it still deserves to be discussed, imho.
Would be happy to hear what others have to say on this topic.