SEC: Cryptocurrency violations decline

Posted 24 October, 2019

Speaking at the Fintech Week 2019 Blockchain Infrastructure Conference in Washington, Jay Clayton, Chairman of the US Securities and Exchange Commission (SEC), stated the number of companies that sell digital assets in violation of the law is gradually decreasing. 

Specifically referring to “blatant violations” despite defining what it encompasses, the Chairman stated that the cryptocurrency community has been educating itself on the application of securities law to virtual currencies.

He recalled the ICO in 2017-2018 when the SEC had to close many dubious projects that offered unrealistic profits and tricked investors. Clayton said that the SEC ‘supports’ the use of coin offerings and other fundraising tools within the cryptocurrency ecosystem, so long as they are registered with the regulatory authorities and an ‘exemption’ is secured.

“You can’t have wide distribution to the retail public with trading and not have the protections of the Securities Act.” 

The turning point in the recognition by the regulator of the crypto industry was the appointment of Clayton as chairman of the SEC in January 2017, when bitcoin grew to $ 15,000.

Previous story

24 October, 2019 16:16

← Coinbase generated $2 billion in transaction fees

Cryptocurrency exchange Coinbase was founded in 2012 by Brian Armstrong. The company has grown into not only one of the largest in the blockchain industry but also into one of the most valuable fintech companies in the U.S.

Coinbase generated $2 billion in transaction fees

Next story

24 October, 2019 13:05

Bakkt platform sees high trading volumes amid falling bitcoin →

Bakkt, the Bitcoin Futures Exchange and digital assets platform achieved a new all-time high (ATH) of 360 BTC on its Bitcoin Monthly Futures Contracts. The number as it expected to increase before the close of the day. 
 

Bakkt platform sees high trading volumes amid falling bitcoin
Write a comment
 
Prove you’re not a bot + 16 = 21