We have faith in the SEC – They have distant dreams of decentralization,anonymity even individual freedom on the blockchain! Little by little, yes the regulators around the world are tightening the noose around crypto and unless you are comfortable with a VPN or similar, it will become difficult to escape from rule even censorship for the general public. The latest example comes from Consensys and his wallet Super star Metamask who announced that they wanted collect IP addresses. Today is the regulator US which deprives its fellow citizens standing up of ApeCoin in the name of respect for law on securities.
The United States on the same list as some of its political opponents because of ApeCoin
To understand this DECISIONyou have to come back a little later and more precisely in the month of march last time DRY began to take an informal interest in the creators of NFT. Then in October, it is Bloomberg which reveals that Securities Commission (SEC) actually initiated one inquiry to find out if NFT rewards violate the law Federal on securities issues. And there is the same kind of doubt about bonuses connected with standing up with protocols that work with evidence ofthe shares or evidence of participation (proof of action in English).
Moreover, even giant Coinbase got upset with that and had to fall back on some of his protocols. But back to Yuga Laboratories and the launch of its platform ApeStake.io. The team behind the project clearly preferred to avoid any ambiguity about it the regulator national and therefore placed his country in the list of regions geoblocked. And ironically, UNITED STATES are found in the same list as a large part of it OPPOSERS geopolitics and diplomacy.
Better look listing in question: North Korea, Syria, Iran, Cuba, Russia, and the Russian-controlled areas of Ukraine, namely Crimea, the Donetsk region, and Luhansk. And then? United States and Canada!
Yuga Labs regrets the situation, but it really doesn’t have a choice
The news came from the blockchain infrastructure company Horizen Laboratories who developed the site on behalf of CAD – Autonomous Decentralized Organization – of the ApeCoin project. He published the list of blocked countries at the same time as cONDITIONS of participation in the project. Then the teams of Yuga Laboratories had to make a statement to clarify the situation:
“We are aware that geo-blocking certain users in North America is inconvenient for many members of the Apecoin community. Unfortunately, in the current regulatory environment, we had no better alternative. »
But far from stopping here, some User have already started looking settlement ABOUT you behave around American law and there are many of them. If you use one AfL – virtual private network – that modifies your geographic location or the use of another interface to interact with the protocol, there are various ways to overcome the regulations. This is also what we recommend Overhead Yuga Labs to its unfortunately deprived users of the official website:
“We want to remind the community that one of the benefits of decentralized finance is that anyone can interact with a smart contract or develop interfaces that allow users to interact with smart contracts. »
Therefore, the stalemate continues between the regulator American and a bunch protocols of Web3 who want to develop their project in a frame legal is not at all clear. Value personal property masked or not? of DRY has yet to decide on the status of cryptos and part of the sector is suspended for this decision. But in the meantime, some continue to have fun with theirs NFT under the nose and chin of the powerless regulator and to exchange rarer for small estates.
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