Fear and HODLing at MIT: Blockchain Experts Weigh Impact of SEC Action

On the one hand, the event was clouded by speculation that the U.S. Securities and Exchange Commission may go as far as to classify two of the top three coins by market cap, ethereum and Ripple's XRP, as securities.

Aligning with Gensler, Narula said, there need to be more honest conversations about the fact that many emerging cryptocurrencies are actually securities.

Patrick Murck, counsel at Cooley LLP and fellow at Harvard's Berkman Klein Center for Internet & Society, told CoinDesk the token economy could be on the verge of a dramatic shift if the SEC agrees with Gensler.

"There's nothing magical about the blockchain that absolves you from investor protection regulations if investors have to trust you to deliver something."

"They're becoming a part of our blockchain community and that's a valuable thing," Murck said.

"If you do an issuance now, in April 2018, do it under U.S. securities laws," said Gensler, who is now a senior lecturer a.t the MIT Sloan School of Management, "It's better to bring it into a public policy framework, even if there's a little bit of a chill."

If nothing else, the excited chatter in the halls of MIT suggested that regulatory encroachment has yet to put a damper on the energy being channeled into blockchain tech.

Amber Baldet, the former JPMorgan Chase blockchain expert, said what makes her optimistic about the space, writ large, isn't skyrocketing coin prices or even regulatory clarity on the horizon.

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