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US SEC recalled the guidelines on primary token allocation

US-SEC-recalled-the-guidelines-on-primary-token-allocation US SEC recalled the guidelines on primary token allocation

The US Securities and Exchange Commission (SEC) recalled the guidelines on primary token allocation (ICO) on its Twitter account. The dedicated section of the regulator's website lists five aspects of the ICO that consumers should be aware. In addition, the SEC has posted information for investors and marketing specialists in the section.

The information has been on the site since last year, but the SEC decided to draw attention to it on social networks this weekend amid ongoing debates about regulating the industry. This material is notable for the fact that the SEC explains its principles regarding ICO in accessible language - it is much easier for all interested parties to familiarize themselves with the information in this format.

These five aspects seem to summarize the current point of view of the regulator. They include confirmation that a token issued within the framework of an ICO can be a security that must be registered with the SEC, regardless of how it is positioned by the ICO issuer. The guide also mentions the risks that investors may face - the regulator encourages them to conduct their own research before investing in such projects.

"Companies and individuals are increasingly considering initial coin offerings (ICOs) as a way to raise capital or participate in investment opportunities. While these digital assets and the technology behind them may present a new and efficient means for carrying out financial transactions, they also bring increased risk of fraud and manipulation because the markets for these assets are less regulated than traditional capital markets."

The full manual is available on the SEC website.

Late last week, SEC Commissioner Hester Peirce said that the delay in the implementation of cryptocurrency regulation can give more freedom to the industry and give it the opportunity to develop independently. In December, a representative of the SEC said that some unregistered ICOs could be held with the approval of the agency. At the same time, Commissioner Jay Clayton said a month earlier that ICO issuers always need to "begin work with the assumption that their token is a security." 

SOURCE

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