Coinbase’s chief legal officer left a derisive criticism of the US Securities Exchange Commission, accusing their crypto policy of being “pretty broken.” While some see the SEC as overzealous and overreaching their mandate, others call for even stricter regulations. SingularityNET (AGIX), Ankr Network (ANKR), and TMS Network (TMSN) – a decentralized exchange – may be outside SEC reach.
SingularityNET (AGIX) – Decentralized Artificial Intelligence Drives Profit for Investors
SingularityNET is a decentralized platform designed to create, share, and monetize artificial intelligence (AI) services using its native utility token, AGIX. SingularityNET aims to foster a collaborative, open-source ecosystem that facilitates interoperability among diverse AI models and services, promoting innovation and synergies.
By offering a decentralized marketplace for AI services, SingularityNET democratizes access to AI capabilities and challenges the dominance of large tech companies in the field. SingularityNET token-based economy allows users to purchase AI services and rewards developers for their contributions, further reinforcing the decentralized nature of the SingularityNET platform. SingularityNET’s decentralization focuses on encouraging transparency in AI development and enables a community-driven approach to AI services, transforming how AI is accessed and developed.
The thorn in the SEC’s side could be the keyword ‘decentralization.’ It is unclear if the SEC has jurisdiction over something that isn’t legally domiciled in one place. SingularityNET is a Web3 solution that is everywhere and nowhere and thus could fall outside the scope of the SEC.
Ankr Network (ANKR) – Different Project, Same SEC Headache
The Securities Exchange Commission faces the same issue regarding Cloud Services provider Ankr Network.
Ankr Network leverages idle computing resources to provide accessible and affordable cloud services. Built on Ethereum, Ankr Network (ANKR) uses its native token, ANKR, for transactions within the Ankr Network system.
By harnessing underutilized resources from data centers, edge devices, and individuals, Ankr creates a distributed cloud infrastructure, democratizing access to computing power and addressing the limitations of traditional, centralized cloud computing providers. Ankr Network offers decentralized Infrastructure as a Service (IaaS), staking nodes as a service, developer tools, and APIs for building and deploying dApps.
Ankr Network supports decentralized finance (DeFi) solutions such as cross-chain liquidity, staking, and yield farming. Ankr Network promotes decentralization by providing secure, cost-effective cloud services through a distributed infrastructure, fostering innovation and adoption of decentralized solutions across industries.
Again, the SEC has no clear policy on how to deal with decentralized entities, and even with a clear policy, jurisdiction remains a problem.
TMS Network (TMSN) – More Decentralized Questions for the SEC
TMS Network (TMSN) is a new exchange developed with decentralization in mind. Built on the Ethereum network, TMS Network aims to bring full democratization to the platform by giving complete control to those who hold TMSN coins.
There are many reasons for this decentralization, and having TMS Network possibly fall out of governmental jurisdiction is one factor.
The primary reason for decentralization is for security and transparency. With all transactions immutably recorded on the blockchain, it mitigates the risk of FTX-style fraud. A secondary reason is that decentralization allows for non-custodial portfolio management, which gives TMS Network (TMSN) a more comprehensive range of product offerings beyond traditional cryptos but includes traditional assets like derivatives and Forex.
But TMS Network (TMSN) is more than its technical operations. As an exchange, it offers traders and users various tools and functions to make trading fast, easy, and cost-effective.
TMS Network is poised to be the market leader in exchanges and has already impressed investors to the tune of selling out $500k during the first phase of its presale. With token prices set to rise once TMSN tokens list on open exchanges, savvy investors can now participate in the second presale phase, with tokens going at $0.038.
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