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U.S. securities regulator unveils legal framework for digital coin offerings
Source: Reuters
TECHNOLOGY NEWS FEBRUARY 6, 2020 / 11:41 AM / UPDATED 2 HOURS AGO
U.S. securities regulator unveils legal framework for digital coin offerings
Katanga Johnson
3 MIN READ
WASHINGTON (Reuters) - Technology trading startups may be exempted from current securities law restrictions to raise capital using digital currencies or “tokens,” a top U.S. financial regulator proposed on Thursday, but a transition plan would be required after three years.
The plan must show whether those products can continue to be traded as securities, or if they change characteristics over time and no longer meet that definition, said Hester Peirce, a U.S. Securities and Exchange Commissioner, at an industry conference in Chicago.
The long-awaited proposal to consider allowing blockchain companies to issue Initial Coin Offerings (ICOs) came after the SEC repeatedly said the tokens can be considered securities and are subject to the same safeguards required in traditional securities sales.
A blockchain is an online ledger of transactions maintained by a network of computers, which gained prominence as the technology that underpinned digital currencies such as bitcoin.
-snip-
U.S. securities regulator unveils legal framework for digital coin offerings
Katanga Johnson
3 MIN READ
WASHINGTON (Reuters) - Technology trading startups may be exempted from current securities law restrictions to raise capital using digital currencies or “tokens,” a top U.S. financial regulator proposed on Thursday, but a transition plan would be required after three years.
The plan must show whether those products can continue to be traded as securities, or if they change characteristics over time and no longer meet that definition, said Hester Peirce, a U.S. Securities and Exchange Commissioner, at an industry conference in Chicago.
The long-awaited proposal to consider allowing blockchain companies to issue Initial Coin Offerings (ICOs) came after the SEC repeatedly said the tokens can be considered securities and are subject to the same safeguards required in traditional securities sales.
A blockchain is an online ledger of transactions maintained by a network of computers, which gained prominence as the technology that underpinned digital currencies such as bitcoin.
-snip-
Read more: https://www.reuters.com/article/us-usa-sec-digital-assets/u-s-securities-regulator-unveils-legal-framework-for-digital-coin-offerings-idUSKBN2002CX
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
One step closer to a complete replacement of currencies and the economic crash of crashes and revaluation
