If July 4th is a celebration of freedom, why can't US citizens invest in Antshares, EOS & Polybius???

Why is the SEC asserting the power to deny US citizens the right to purchase ICOs such as Antshares, EOS & most recently Polybius?

Is the government justified in taking this action, or is there something more sinister afoot.

The founders provide the [federal] government with certain powers. The rest are either reserved for the states, or preserved by the individual. (I think we all know how that states' rights experiment went a couple' hundred years ago. If you don't recall, ask the citizens of Virginia, Texas, Alabama, North and South Carolina... well, you get the idea.)

The federal government is NOT empowered to prevent us from making good or bad investment decisions. If so, it would be similar to the fox guarding the henhouse. Remember $900 toilet seats for the pentagon? How about giving a billion dollars to Pakistan annually - where "resistance" fighters are armed to the teeth to kill our soldiers in Afghanistan? Or, how about the secret plane with 1.7 billion in cash flown to Iran at the end of the Obama administration. Good investments on our government part?

However, all this aside, the government is now preventing us from investing in startups using coins or tokens. These are the same coins that have in many cases have doubled. EOS was recently released and has already tripled or more in a few short days. Annualized, that would be thousands of percent returns on your invested money. Alas, we were prevented from such profits. Why?

Could it be that the federal government is trying to constrain our freedoms? YES. Apparently, the government is perfectly happy with having us limited to investing in Government debts, like Treasury Bills yielding next to nothing. Or, supporting our banks which pay interest at approximately 1 % a year!

Now let's find out how they justify limiting our rights. Although a lawyer, I don't pretend to be a "scholar" so I am approaching this exactly as you would expect: looking at the "rules".

The founding fathers provided for the "Rules" under Article I, Section 8 of the United States Constitution:

Tax;
Borrow;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish a uniform Rule of Naturalization, and Bankruptcies;
To coin Money (and punish counterfeiting;
To establish Post Offices;
To authorize patents, copyrights and tradenames;
To establish courts and judges;
To punish Piracies and Felonies committed on the high Seas;
To declare War, support Armies and maintain a Navy;
To govern the Capital;
And to make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof.

So... where does this authority to constrain our investment in ICOs come from? Is it because it is a foreign investment? No - the SEC does not constrain investing in Siemans of Germany, Phillips of Holland, Greek Banks, English companies, etc.

I have yet to see why or how it has a legal right to limit our American investment in ICOs or tokens. Instead of preventing the development of potentially life changing technologies, it should be in the vanguard ushering them in. I guess until they recognize this, we will be stuck investing in entities like Solyndra or other losers which we have absolutely no say in.

Speak your mind - let freedom's voice be heard this 4th of July!