SEC is looking for a new approach towards the cryptocurrencies

Home » REGULATIONS » SEC is looking for a new approach towards the cryptocurrencies
SEC is looking for a new approach towards the cryptocurrencies

“Treating all ICOs as securities is not the best method for controlling the cryptocurrency industry”, stated the US Securities and Exchange Commission (SEC) commissioner Hester Peirs.

“I’m afraid that the regulators often treat all ICOs as securities. Therefore, crypto-community often warns about the dangers of the so-called “regulatory sandboxes”. I believe that it is necessary to find suitable regulatory methods that will support the prosperity of innovation. What worries me about sandboxes is that regulators usually sit in the neighborhood with entrepreneurs, “Peirs said.

According to the Commissioner, “open communication” between regulators and those whom they regulate is possible without the “sandboxes”. Instead, Peirce proposed a “rescue” approach, in which the regulator “keeps track of what is happening, but does not stand above the “builders of sand castles”, monitoring every decision.”

At the same time, Peirce acknowledged that “sandboxes” were useful for some regulators, including the UK, the UAE and Singapore. In addition, she questioned the words of SEC chairman Jay Clayton, who in the past stated that “all without exception, ICO offer securities.”

“Given the lack of the development in this sphere, I would not classify all the ICOs as securities or any other type of investments. Regulators should evaluate the facts and circumstances of each individual proposal, “Peirs noted.
In her speech, she also touched on the potential impact of regulation on innovation and added that classifying all tokens as securities can limit the development of appropriate technologies.

“Over time, they will begin to look more and more like securities. Because of this, innovations that do not fall under the description of “securities” can never happen, “Peirs added.

  • bitcoinBitcoin$3,680.99
  • rippleXRP$0.325607
  • ethereumEthereum$122.50
  • tetherTether$1.00
  • eosEOS$2.44
  • stellarStellar$0.106729
  • litecoinLitecoin$32.99
  • cardanoCardano$0.044916
  • tronTRON$0.024186
  • moneroMonero$45.25
  • iotaIOTA$0.312146
  • nemNEM$0.057268
  • dashDash$71.91
  • neoNEO$7.86
The complexity Bitcoin mining is growing
As a result of the next recalculation of the complexity of mining Bitcoin on the night of January 14, this figure increased by almost 5%. The complexity of mining is a parameter of the blockchain network, which shows how difficult it is to perform a mathematical calculation to find a new unit and, accordingly, to […]
2019-01-18 0 5
Bitcoin volatility fell by 98% over the year.
Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, this figure was $ 3,468, then a year later – only $ 61, notes CoinDesk Markets analyst Omkar Godboul. The daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was […]
2019-01-17 0 8
Will Ethereum hard fork Constantinople be launched this week?
Ethereum, one of the largest and most influential blockchains in the world, is planning to improve its code in the near future. A massive system upgrade, or hardfork, called “Constantinople” will include a number of technological improvements called to enhance practicality and the architecture of smart contracts. The Ethereum community will make a final decision […]
2019-01-15 0 31
The Brit​ish citizen was trying to buy a gun with cryptocurrency
David Mitchell, a 48-year old British citizen, was arrested by the US police after an attempt to purchase a gun with cryptocurrency via the dark web. Mr. Mitchell was planning to buy a Glock 9mm pistol which costs around £2,000. The man explained to the court that he was curious whether it is possible to […]
2019-01-14 0 18
© 2017–2018