A total of 9 firms and tokens have registered/complied with regulators and securities laws. Only 1 currently survives, the rest either failed, restructured or were abandoned. And this 1 surviving token reports consistent losses since 2021. The laws simply

Only this year in March for the first time the SEC has provided details on firms what registered or “collaborated” with the SEC and the details. The results however are harrowing. Out of nine firms and tokens, only one still functions as originally intended and even then the business is burning cash with mounting losses.

Blockchain of Things, a platform for building dapps, were in operation since 2015 and after almost 8 years shut down in this year of 2023.

ParagonCoin, which made a token for weed entrepreneurs, has disappeared.

YouNow was a livestreaming company that had its PROPS token. The token was abandoned in 2021.

Airfox (Carrier EQ) was fined by the SEC and bought out 2 years later.

Enigma MPC “swapped” their token for SCRT and were absorbed by Secret Network

SALT Lending registered after an ICO settlement and is currently apparently in limbo with no discernable business activity, presuming it isn’t abandoned.

Ceres also seems to be in limbo with no discernible business activity currently.

Hiro Systems had a token that is currently no longer a security.

INX seems to be the only still-functioning platform in the list, however they seem to simply be making loss after loss, for the 2021 and 2022 and well as Q1 2023.

It would simply appear that even if one wants to “follow the rules” it simply doesn’t make financial sense. The rules are so restrictive that a securities exchange cannot trade Bitcoin, or any other commodities for that matter, which is obviously a MASSIVE blow, making it very hard to be profitable. This means that a crypto securities exchange may only offer for trade tokens in this list of 9, the majority of whom are dead or very close to it. It seems it is better for firms to try their luck avoiding the SEC. This is to say nothing of the difficulty and cost of registering as a security in the first place.