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An interesting development in the NFT vs. SEC securities debate - @mmccsolana creator Venus Labs has published a detailed statement arguing why it is NOT a security despite paying royalties to owners.
The paper's worth a read:https://www.yumpu.com/en/document/read/65924471/on-the-question-of-mmcc-securities …
TLDR - because Venus Labs is transferring all project benefits & responsibilities to MMCC owners, there is no money being made from the efforts of a third party. MMCC owners are putting in the effort & are getting paid the royalties from that effort. Not a bad take imo.
Awesome. Many people on the Mirror Finance Agora forum are shooting down any discussion on the legalities of the product and it's definition as a security. Then the lawyers just assume it is and operate from that standpoint...glad to see an actual semantic defense.
@ctiberiu9 very interestingg!!
So pumped!! All I’m talking about tonight with people on Twitter. Exactly, community is bringing value, kats team doesn’t do anything now, they just sit back and cheer the community on. Not a security 
such a proud kat man
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