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SEC investigates Bored Apes, AI-generated Steve Jobs/Joe Rogan interview & more | E1585
This Week in Startups
Is the SEC Really Trying to Protect Consumers From Harm?
The SEC is looking into whether NFTs were meant to be investments or art. The rules around the things securities exist for what reason? To avoid fraud and consumer harm, it's a consumer protection law. Also money-wandering. So if people can pop up NFTs and use them essentially as currency, then you could have all of the front running, dumping, pumping, dumping,. All of those things that occur require some protections. That's why going public is a pain in the neck and it requires continued audits.
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