The SEC ruled Ethereum a non-security based on its decentralization. Conversely, STEEM should now be classified a security owing to its centralization. Nullifying accounts on STEEM is thus a case of security fraud. Steemit, Inc is a registered in the United States. I wonder if he would be extradited from China if he were to receive a prison sentence in the US?
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I thought they said Ethereum wasn't a security. On the other hand Block One actually settled with SEC $24M for selling unregistered securities.
Shit. The world "non" was missing from my text. I hope it was clear to most readers from that passage that Ethereum was different from STEEM at present in being classified a non-security anyway. The second sentence describing STEEM started with the word"conversely".
But it's now corrected. Yes, Ethereum was indeed ruled a non-security owing to its decentralization. EOS is too centralized to be ruled a non-security by the SEC, which is why Block One had to pay $24 M in fines.
I heard he left China for the USA due to fear of being prosecuted there.
Hah. If that's the case, wherever he goes, he gets into trouble with the law.
Yes he he is being investigated by the Chinese Gov. Do to his "over promotion"(misrepresentation) of TRON to investors, using the tron gambling sites to launder money for himself and organized crime, other crimes related to fraud at TRON, and for being an extra large bag of dicks.....
Currently residing in San Francisco Ca.
He lives in San Francisco atm no need to extradite.