What Reddit’s IPO Filing Says About Crypto Regulation

What is surprising are some of the assumptions Reddit makes about the world of crypto in its U.S. Securities and Exchange Commission filing. First, Reddit announced it has joined a select club of companies that holds both BTC and ETH in its corporate treasury. While a number of native crypto companies hold both leading cryptos in reserve, most are likely to follow MicroStrategy’s “bitcoin-only” approach.

So Reddit joins KPMG Canada and Meitu, so what? Well, the company’s reasoning, outlined in its S-1 filing – a long, thorough and highly-vetted legal document – is telling. Based on public statements from the SEC, Commodities Futures Trading Commission and other “high-ranking” regulatory bodies, it has determined Ethereum’s native token is not “likely” a security.

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