It will be easier to raise funds in

crypto for a token than it is to [music]

raise funds for your local coffee shop.

The SEC unexpectedly dropped new crypto

regulation. They are going ahead without

the Clarity Act. They know that this

thing probably isn't passing. There is

some wild things in here. First of all,

the one I want to dig into the most.

There's a startup exemption. $5 million

total over four years you're allowed to

raise for a token simply by presenting a

white paper. So, think about this. If

you're a crypto company or a project

that wants to launch token in the United

States, you can raise up to $5 million

simply on a white paper without any

major disclosures or having to have long

conversations with the SEC. Now, what's

most interesting here, you can raise

this $5 million from effectively

anybody. So, anyone who understands

accredited investor laws in the United

States knows that for any other market,

this is effectively impossible.