Are there any brothers or sisters who have fallen into the trap of Aleo's private sale?
‍#ALEO#  #私募#  #骗局# 

ALEO

Aleo的私募陷阱，有没有兄弟姐妹们踩坑的？
‍#ALEO#  #私募#  #骗局# 

The road is bumpy, do you still firmly believe in ALEO?
‍#ALEO# #金贝# #AEBOX #  #冰河# #AE0# 

道路崎岖，你还坚定的看好ALEO吗？
‍#ALEO# #金贝# #AEBOX #  #冰河# #AE0# 

The China Electronics Technology Group team contacted A16z in the United States via email to verify rumors regarding a legal lawsuit related to Aleo immediately after receiving the news. At the same time, they reported this incident through social media platforms such as "Aleo Ambassador" and "Aleo Chinese Community." Although the email received no response, considering the current lawsuit between the SEC and Aleo, the overall situation requires an explanation.

#SEC#  #ALEO#

Recently, I believe everyone has heard about the hearing of the SEC( (U.S. Securities and Exchange Commission) and the Aleo Network Foundation. Here are the latest developments that Lao Feng has learned about the event:

![](https://img.gateio.im/social/moments-c2a61bffca-752de88385-153d09-1c6801)

The U.S. District Court for the Southern District of New York held a preliminary hearing on July 22 to discuss the SEC's charges against Aleo for alleged unregistered securities offering.

Core Controversy:

SEC claims: Aleo's token $ALEO is a security, and its token sales and mining activities from 2021 to 2023 were not registered in accordance with the law.

Aleo defends: emphasizing that the essence of the technology is a privacy computing network, the token is a functional tool ( UtilityToken ), and cites similar cases ( such as Ripple ) advocating for exemption.

Judge's attitude: The judge did not rule in court and required both parties to submit supplementary materials by August 19, focusing on whether the "token economic model constitutes an investment contract."

Subsequent key nodes:

August 19: Both parties submitted supplementary evidence, including details of token distribution and community governance rules.

Early September: A second hearing may be held to decide whether to dismiss the SEC lawsuit or proceed to a formal trial.

Potential Impact:

Aleo could become another case establishing "functional tokens as non-securities" after Ripple(XRP.

We found that various signs indicate that the rumors of "ALEO being sued in the U.S." that I reported in an article over eight months ago are not unfounded, but rather have some relation.

The China Electronics Technology Group team contacted A16z in the United States via email to verify rumors regarding a legal lawsuit related to Aleo immediately after receiving the news. At the same time, they reported this incident through social media platforms such as "Aleo Ambassador" and "Aleo Chinese Community." Although the email received no response, considering the current lawsuit between the SEC and Aleo, the overall situation requires an explanation.

![](https://img.gateio.im/social/moments-c2a61bffca-2046e9f7f6-153d09-1c6801)

What impact will this court hearing have on Aleo going forward?

Old Feng carefully reviewed the publicly available information from the SEC and found that this hearing is relatively favorable for Aleo! The reasons are as follows:

First, from the initial hearing, the SEC's lawsuit against Aleo is very similar to the SEC's case against XRP four years ago, which ended in a settlement between the parties;

The SEC sued Ripple, claiming that XRP is a security. Last year, the judge ruled in favor of both parties. Selling XRP to institutional investors is considered the sale of unregistered securities, resulting in Ripple being fined $125 million. However, selling XRP to retail investors through exchanges is not considered a sale of securities.

In the final settlement, both parties waived their appeals, and the fine of $125 million was reduced to the mutually agreed amount of $50 million.

However, there are also some points that need attention. The SEC stated that this settlement indeed reflects "any assessment of the substantive content of the claims alleged in the lawsuit." In addition, the SEC's decision to resolve this enforcement action does not necessarily reflect its position on any other cases.

Second, after Trump takes office in November 2024, he nominates Atkins, who claims to be the "Crypto Czar," to serve as the SEC chairman. The various environments that Aleo is facing now are more favorable than those for XRP.

Regarding digital assets, the SEC, led by former Chairman Gensler, believed that most digital tokens are securities under the notorious Howey Test established in the SEC v. WJ Howey Co. case and must be registered under the Securities Act. In the Howey case, the U.S. Supreme Court ruled that if an investment contract involves "the investment of money in a common enterprise with profits to come solely from the efforts of others," then the investment contract is considered a "security" under the Securities Act. This approach has led to the often-criticized "enforcement regulation" of digital assets, resulting in the SEC reaching multiple enforcement settlement agreements and imposing fines against cryptocurrency and digital asset issuers. However, as mentioned above, the SEC, now led by Atkins, may propose new regulations to clarify the definition of digital assets and limit its enforcement focus on unregistered digital asset securities offerings to situations where there is clear evidence of fraud and abuse. The U.S. Securities and Exchange Commission (SEC) recently formed a new cryptocurrency special working group led by Peirce, tasked with developing a "comprehensive and clear regulatory framework" for cryptocurrency assets, which further underscores this point. The SEC's establishment of the cryptocurrency special working group indicates that it is actively focusing on cryptocurrencies and digital assets and may provide some initial clues about the SEC's work priorities in this area.

SEC Chairman Paul Atkins is studying the inclusion of "innovation exemptions" in the current regulatory framework with the aim of supporting the tokenization of stocks and other assets.

Third, Hirota Akira, the CEO of the Aleo Foundation, was invited to attend Trump’s White House cryptocurrency asset cocktail party, skillfully managing the relationships between politics and business.

Koh Harada, who recently rose from the Chief Operating Officer of the privacy-focused blockchain company Aleo to Chief Executive Officer, has led Aleo to raise over $200 million from investors such as SoftBank and A16z. The company chose to establish itself in the United States, while many competitors opted for offshore jurisdictions like the Cayman Islands to avoid various regulations.

"Our registration in the United States was not a spur-of-the-moment decision," said Hirota Akira. After speaking with several legal and compliance experts, the company realized that "the United States is the best fertilizer for technological development—it's that simple," he said.

Harada added that Aleo's focus on privacy features combined with smart contract capabilities has made it the preferred resource for other startups looking to re-enter the U.S. The company has chosen Wyoming, which is known for its cryptocurrency-friendly policies.

"Wyoming is the most cryptocurrency-friendly state in the U.S.," Harada said. "They have developed forward-thinking policies and even established a blockchain research center at the University of Wyoming."


中電科团队收到Aleo有关的法律诉讼传闻后，第一时间Email联系远在美国的A16z求证传闻，同时通过《Aleo大使》，《Aleo中文社区》等自媒体报道了此事件，虽然邮件石沉大海，没有回讯，但是结合现在SEC与Aleo的诉讼来看，总数是一个交待。

#SEC#  #ALEO#

最近，相信大家最近对SEC(美国联邦证卷委员会）和Aleo网络基金会的听证会有所耳闻，老冯了解到的事件最新进展如下：

![](https://img.gateio.im/social/moments-c2a61bffca-752de88385-153d09-1c6801)

美国纽约南区联邦法院于7月22日举行了初步听证会，讨论SEC对Aleo的指控，涉嫌未注册证券发行。

核心争议:

SEC主张：Aleo的代币\$ALEO属于证券，其2021-2023年的代币销售和挖矿活动未依法注册。

Aleo辩护：强调技术本质为隐私计算网络，代币是功能型工具(UtilityToken)，并援引类似案例(如Ripple)主张豁免。

法官态度：法官未当庭裁决，要求双方在8月19日前提交补充材料，重点围绕“代币经济模型是否构成投资合同”。

后续关键节点：

8月19日：双方提交补充证据，包括代币分配细节社区治理规则等。

9月上旬：可能举行第二次听证会，裁决是否驳回SEC诉讼或进入正式庭审。

潜在影响:

Aleo可能成为继Ripple(XRP瑞波）后又一确立“功能型代币非证券”的判例。

我们发现，种种迹象表明，8个多月前的我在文章中报导的”ALEO在美国被告“传闻并非空穴来风，而是有一定的关系的。

中電科团队收到Aleo有关的法律诉讼传闻后，第一时间Email联系远在美国的A16z求证传闻，同时通过《Aleo大使》，《Aleo中文社区》等自媒体报道了此事件，虽然邮件石沉大海，没有回讯，但是结合现在SEC与Aleo的诉讼来看，总数是一个交待。

![](https://img.gateio.im/social/moments-c2a61bffca-2046e9f7f6-153d09-1c6801)

此法院听证会对Aleo后续有何影响？

老冯仔细调取了SEC公开的资料，发现这次听证会对Aleo来说还是比较有利的！原因有以下三点：

第一，从首次听证会来看，SEC对Aleo的诉讼与四年前SEC对XRP瑞波大同小异，而XRP案以双方和解告终；

SEC 起诉 Ripple，称 XRP 是一种证券。去年，法官判决双方胜诉。向机构投资者出售 XRP 被视为未注册证券的销售，Ripple 因此被罚款 1.25 亿美元。但通过交易所向散户投资者出售 XRP 则不被视为证券销售。

在最终的和解中，双方都放弃了上诉，1.25 亿美元的罚款被削减至双方商定的 5000 万美元。

然而，也有一些需要注意的地方。SEC表示，此次和解确实反映了“对诉讼中所指控索赔的实质内容的任何评估”。此外，SEC决定解决此次执法行动并不一定反映其对任何其他案件的立场。

第二，川普2024年11月上台后，提名号称“加密沙皇”的Atkins出任SEC主席，Aleo现在面对的各方面环境比XRP瑞波更加友善了.

关于数字资产，前任Gensler 领导的 SEC 认为，根据臭名昭著的SEC v. WJ Howey Co.案中制定的豪威测试，大多数数字代币都是证券，因此必须根据《证券法》进行注册。在豪威案中，美国最高法院裁定，如果投资合同涉及“对共同企业的资金投资，其利润完全来自他人的努力”，则该投资合同根据《证券法》属于“证券”。这种方法导致了经常受到批评的数字资产“执法监管”方式，导致 SEC 针对加密货币和数字资产发行人达成了多项执法和解协议并处以罚款。然而，如上所述，现在，由 Atkins 领导的 SEC 可能会提出新的法规，以澄清数字资产的定义，并将其对未注册的数字资产证券发行的执法重点限制在明显存在欺诈和滥用的情况。美国证券交易委员会（SEC）最近成立了新的加密货币特别工作组，由皮尔斯（Peirce）领导，负责为加密货币资产制定“全面清晰的监管框架”，这进一步证明了这一点。SEC成立加密货币特别工作组表明其正积极关注加密货币和数字资产，并可能为SEC在该领域的工作重点提供一些初步线索。

SEC 主席 Paul Atkins正在研究在现行监管体系中加入“创新豁免”，目的是支持股票及其他资产的代币化发展。

第三，Aleo基金会的CEO原田光应邀参加过川普的白宫加密资产酒会，政商关系处理得行云流水；

原田光(Koh Harada) 最近从专注于隐私的区块链公司 Aleo 的运营主管晋升为首席执行官，Aleo 已从软银和A16z等投资者那里筹集了超过 2 亿美元的资金，该公司选择在美国成立，而许多竞争对手则选择在开曼群岛等离岸司法管辖区成立，以避开各种监管。

“我们在美国注册成立并非一时兴起，”原田光说道。在与多位法律和合规专家交谈后，该公司意识到“美国是科技发展的最佳肥料——就是这样，”他说道。

Harada 补充道，Aleo 将注重隐私的功能与智能合约功能相结合，已成为其他希望重返美国的初创公司的首选资源。该公司选择了怀俄明州，该州以其对加密货币友好的政策而闻名。

“怀俄明州是全美对加密货币最欢迎的州，”Harada说道。“他们制定了具有前瞻性的政策，甚至在怀俄明大学建立了区块链研究中心。”


尘埃落定：SEC对Aleo"未注册证券"指控的法院听证会事件解读  

Dust Settles: Interpretation of the Court Hearing Event on SEC's "Unregistered Securities" Charges Against Aleo

$Aleo is about to launch! Buddies who have lost money on it before should pay attention. It's time to recover losses.

$Aleo即将启动！以前在上面亏钱的老铁可以留意一下，回血的时候到了。