Crypto. Blockchain. Nodes.

What is happening? Let’s first commend Politico for the headline of all headline on this niche topic of node regulation: Node Country for Old Regulators. Now for the nitty gritty, the SEC has filed a crypto enforcement in the western District of Texas and within that is an argument that because a large enough group of nodes in the blockchain are in the U.S., thereby judicial enforcement is possible.

Why is this important? There’s nary any specific legal nor regulatory authorities in the U.S. on blockchain that makes up the backbone of crypto. There are judicial principles of how you can get a party into court, and the SEC is jumping on it. by saying the U.S. hosts 46% of the nodes for ethereum.

How will this be important? The issue of how to get economic activity that occurs on blockchain, decentralized computer network activity, into a court’s jurisdiction is here to stay. Hello lawmakers and regulators… you’re up to bat.

Politico | Node country for Old Regulators