SEC to write ICO

Commission on securities and exchanges US (SEC) plans to clarify when and how cryptocurrencies can be recognized as securities, writes CoinDesk with reference to the statement of the representative of the department.

Speaking at fintech week in Washington, SEC Chief Financial Officer William Hinman said the regulator intends to lay down rules in “accessible English” for token sale promoters. The guide will help developers determine if their tokens qualify for securities, Hinman said, without specifying when the SEC would release the promised documentation..

If developers cannot clearly determine whether they are issuing a security or not, they should contact the regulator’s new financial hub, which deals with such issues, Hinman added..

The SEC is also ready to provide crypto startups with advice on accounting, storage and valuation of tokens. Some of the statements that the regulator has received to date have already raised similar problems..

The SEC will write an ICO guide in 'accessible English' The US Securities and Exchange Commission (SEC) plans to clarify when and how cryptocurrencies can be recognized as securities, CoinDesk writes, citing a statement from a spokesman for the agency.

“I think we should try to put it all together and share it. We want to share something a little more transparent, ”he said. The guide will also cover secondary market transactions so that developers know how to handle their tokens after the main part of the campaign is complete.

Speaking about what factors the SEC will consider when recognizing a token as a security, as an example, Hinman pointed to the expected return on investment in the proposed instruments. “If someone offers a monetary instrument to a third party, and this person expects some kind of profitability or something that will increase the value of the coin or token, this indicates that we are dealing with a security offer,” he explained.

The SEC will write an ICO guide in 'accessible English' The US Securities and Exchange Commission (SEC) plans to clarify when and how cryptocurrencies can be recognized as securities, CoinDesk writes, citing a statement from a spokesman for the agency.

In late September, a group of American lawmakers approached the SEC with a request to clarify the situation with the status of securities and tokens in the cryptocurrency market..

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