I decided to study business because I believed there are ways to make business more just and equitable. After spending years adapting cooperative business models and law to how it could work in online, user-owned businesses, it is starting to come to fruition. Steem is a prime example and more than anything, I want this shared ownership model to work.
My question is, do we know the SEC standing with Steem? Has the SEC decided to take no action on Steem?
I doubt they even know it exists yet. Look at how long it took them to understand Bitcoin. I think we will be fine for at least a few years. However this is a good question and I think their final say on Steem will be heavily impacted on their future stance on Bitcoin.
In short good question but no we don't really know.
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I don't see what the SEC would have to do with this.
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STEEM coins is a proxy for equity which is traded and basically a security. The SEC controls what can be a security and what cannot be along with the filings needed. Basically, the SEC has made it very limited on how a shared ownership model could work within the current rulings. I am hoping that Steem got a no action letter from the SEC. Regardless, I want this to succeed and the SEC challenge is the biggest threat from my work in this area.
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