ICOs whose tokens no longer resemble securities may secure no-action relief from the SEC, says director Hinman

Some companies who previously conducted initial coin offerings (ICOs) might be eligible for ‘no action’ relief from the U.S. Securities and Exchange Commission (SEC), CoinDesk writes.

SEC Director of Corporation Finance William Hinman explains that it is possible for cryptocurrencies to stop resembling securities over time. Indeed, he accepted the hypothetical that if a token launched resembling a security, but three years later could show utility, it would be feasible to receive a no-action letter.

Original source
https://www.theblockcrypto.com/tiny/icos-whose-tokens-no-longer-resemble-securities-may-secure-no-action-relief-from-the-sec-says-director-hinman/?utm_source=rss&utm_medium=rss&utm_campaign=default

Add comment

Please Sign in to be able to leave comments.