The core issue is whether countries should use securities laws framed decades ago, “without realizing blockchain networks’ very aim is to transform the decades-old financial and securities market systems, with more transparency, instant settlement times, disintermediation of middlemen, automation and reduced costs, global liquidity and interoperability,” the report said.
Blockchain Networks’ Decentralization Efforts Will Take a Hit if Tokens are Labelled Securities, Bernstein Says
