SafeHarbor-X
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Potential Proposed Securities Act Rule 195. Exemption for Qualifying Distributions of Autonomous Cryptotokens (Forked from Hester Peirce Proposed Rule 195)
Issue raised by Stephen Palley: is this prong of "autonomous cryptonetwork" too strict/narrow? "permits any Internet-connected, consumer-grade computer running the Open Cryptoclient to obtain an accurate and complete copy of...
break definition of autonomous cryptotoken into two: *definition of cryptotoken *definition of autonomous cryptotoken (using definition of cryptotoken + qualifiers to cover a narrower set of cryptotokens) this would reduce...
potentially tighten up language/substance around the meaning of control by the initial development team (right now has lazy text about "control of a majority of economic benefits or voting power")--think...
team allocations will typically occur (at least contractually) before the cryptosystem is created (and decentralized); so there likely need to be some drafting fixes to address this separation in time...
include more fulsome description of the public policy goals achieved by autonomous cryptosystems and autonomous cryptotokens--some good ideas [here](https://twitter.com/glenweyl/status/1478021789250772995)