This is how @GaryGensler and the SEC are trying to destroy the crypto industry. They make it impossible to comply with registration rules Since the SEC decided to litigate to regulate rather than make any effort to increase compliance, if I get an investment opportunity that is going to release a token, it’s now a no from me. Not because of the company itself, rather because the SEC will not allow it to operate. The cost in time and legal fees to attempt to register and comply make it impossible to realistically operate And if you don’t try to register, and operate outside the USA , I don’t want to be involved. They have created a destructive environment that could easily be remedied in a way that would increase compliance dramatically and actually protect investors. The crypto industry wants a way to register and comply. It wants a way to keep the speculative noise out. Instead the SEC makes it so expensive, time consuming and difficult for those who want to comply, that the junk tokens are side by side with real companies and investors have no way to know what is garbage and what is real. This is the legacy of @GaryGensler He has made it impossible for good companies to do the right thing Just look at the actual number of operating companies that have successfully registered their tokens w the SEC in the USA and successfully continue to operate. Are there any at all ?