In a recent speech in front of an exclusive group of lawyers in New York, Walter Joseph ” Jay ” Clayton III, chairman of the Securities and Exchange United States, was assimilated to the ICO with titles, which means a regulating mass in a market in full expansion.
The chairman of the SEC finally gives his point of view
The chairman of the SEC, Jay Clayton, spoke before an assembly of lawyers who gathered in the framework of the 49th annual Summit on securities regulation at the Roosevelt hotel in New York. He declared with vehemence : “I have not yet seen an ICO which does not have the same characteristics as a title. “These are the first statements of the president of the SEC relating to crypto-currencies after the president Trump was appointed in January of this year. It is important to remember that the annual Summit on the regulation of securities is a popular gathering that is organized by the Practising Law Institute, a non-profit organization. It lasts three days and the price of a ticket costs 2 495 $. It could be considered that it is expensive, but participants have the benefit of great networking opportunities.
Too much opacity in the transactions
“When you leave the Bitcoin or Ethereum, and that you enter in the token system, the labels should become clear,” he said. And he added : “a Lot of ICO-like offerings of traditional stock, the only difference being that the new tool of fundraising involves chips and the use of the technology records to be distributed. “It should be noted that, this year, more than 150 ICO have brought more than $ 3 billion, which has attracted celebrities, Wall Street, and, increasingly, government regulators. President Clayton also deplores ” a lack of information on the many online platforms that list and sell the digital currency. “
Source : News.Bitcoin