RE: Will the new SMTs help or hurt STEEM? by yabapmatt

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steem · @yabapmatt · Sep 29 '17

$0.70

SMT ICOs would be banned in those places just like any other ICOs but that shouldn't affect Steem other than potentially reducing the potential of the new SMTs. Same as how it didn't affect Ethereum other than to drop the price temporarily.

👍 yabapmatt

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@dana-edwards · Sep 29 '17

We don't know that yet do we? And the point is we need a way to do these ICOs over Steem with legal defense mechanisms in mind. Which group of lawyers wants to be the first to offer up a token over Steem for legal services? They'll make a fortune because everyone is going to have to go to a lawyer either to do an ICO or to deal with the consequences of doing it wrong.

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@yabapmatt · Sep 29 '17

$0.69

In places where ICOs are banned (like China) it's any ICOs whether using Ethereum, Steem, or anything else. They are banned, period. There is no legal way to do an ICO there right now.

In the US at least ICOs are starting to be regulated meaning that you are correct that some lawyers are going to start making a fortune off of them to ensure they are done correctly.

👍 yabapmatt

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