I asked this question in a comment in another thread, but instead of answering it was downvoted (probably by ABC supporters who don't want to see this question).
But it wasn't me that raised this very legit question - it was Peter Rizun: https://read.cash/@PeterRizun/the-best-of-intentions-the-dev-tax-is-intended-to-benefit-investors-but-will-corrupt-us-instead-012f5dbd#the-howey-test-mined-coins-vs-securities
Right now Bitcoin Cash, just like BTC, doesn't have that problem.
So IFP supporters, link me to a legal analysis commissioned by ABC to show that it's not a great risk to the $4.8B coin. Surely you have the money to get good counsel on that.
State financial regulators are now trying to attack coins on whatever grounds they can find.
IMO, not only is the IFP a horrible idea from soundness perspectives, but it opens up multiple new ways for governments to attack, including based on existing regulations.
Change my mind.
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source https://www.reddit.com/r/btc/comments/jblyvf/where_is_the_legal_due_diligence_to_show_abccoin/
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