US SEC asked to make ICO regulation clearer

Posted 01 October, 2018

Some US officials have jointly filed a message to US SEC Chairman Jay Clayton asking to clear up the ICO issue, including the status of such projects under securities rules in the country.

According to the letter, the members of the House of Representatives wants SEC to clarify their steps towards the assessment of tokens. Specifically, the officials are generally satisfied with the work of SEC:

"We write to express our appreciation of the thoughtful and deliberate approach exhibited by the Securities and Exchange Commission to the application of the securities laws to digital tokens and cryptocurrencies."

However, they believe that the authority may take more measures in terms of the digital asset regulation, citing that the current set of guides looks quite vague and it is necessary to develop more exact guidelines that should be applied to both digital tokens classified as securities and those that do not fall into this classification.

"We believe that the SEC could do more to clarify its position. Additionally, we are concerned about the use of enforcement actions alone to clarify policy and believe that formal guidance may be an appropriate approach to clearing up legal uncertainties which are causing the environment for the development of innovative technologies in the United States..."

The officials do not set a deadline for the consideration of this topic stating that such definitely requires some time and deep studying.

Earlier, crypto market players expressed their doubts about the effective token regulation in the USA during the forum held in Washington. In particular, they would like to have clearer guidelines for token sales.

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