SEC Representative Once Again Noted Need To Regulate ICO Sphere — Coinzdaily
Chairman of the US Securities and Exchange Commission (SEC), Jay Clayton, noted that regulators still maintain a strong position in controlling the scope of the initial supply of coins. The statement was published in CNBC on November 26th.
In an interview with CNBC on Paragon and Airfox ICO controls, Clayton noted that there is a need for regulated pre-sales of tokens in the United States. Clayton reported:
“We’ve had no ICOs register [with the SEC]. To the extent that an ICO is being conducted offshore or pursuant to a private placement exemption, fine; to the extent that you’ve conducted a public offering in an ICO, it’s non-compliant.“
Like the SEC, the Commodity Futures Trading Commission (CFTC) takes the view that, despite the fact that Bitcoin is not considered a reliable and safe form of investment, the ICO sector requires a separate increased control.
“I think we’ve been clear that Bitcoin isn’t a security, but many of the ICOs that you see and talk about – they are securities.”
In addition to the ICO sphere, other important problems of the cryptocurrency sphere were also discussed during the interview, including the issue of launching Bitcoin exchange funds.
Answering questions about the cryptocurrency sector, Clayton adheres to the official position of the SEC. He reported:
“I’m not going to comment on timing or anything like that, but we’ve been clear on some of the issues that are of concern to us.”