There is a huge probability that it is a security.
There is a high probability that it will not be
No contradiction
Yitai has raised funds through ICO, and pledged mining is actually a security;
But BlackRock has applied for the Yishi spot ETF, so it is highly likely that Yishi will not be it.
BlackRock is the richest asset management company on the planet. Only the rich or the noble are eligible to deposit money in BlackRock. If the SEC determines that the instrument is a security and does not approve the instrument spot ETF, BlackRock will replace the SEC chairman to review it again.
The textbook says: Facts determine your position
In fact: interests determine positions
If the facts and interests do not match, change the facts to match the interests
If you understand this sentence, most of the confusion in your life will be solved.
Fact: Under the old securities law, the demeanor would not have passed the securities test.
Interest: If BlackRock has a huge interest in etiquette
So how to do it legally?
BlackRock asked the SEC to bypass this problem by directly passing the etiquette spot ETFs...
If that doesn't work, let Congress amend the securities law and push for a revised bill in the name of innovation.
Remember that the future of the big pie will be taken over by the legal currency of small countries and the legal currency of corrupt officials