The US Securities and Exchange Commission plans to clarify the rules for ICO via releasing easy-to-understand instructions which may help to understand when tokens can be classified as securities.
The regulator expressed intentions to develop this guideline during the financial conference held in Washington last week. As commented the head of SEC corporate finance department William Hinman, with this guideline developers can determine what kind of token they plan to offer and whether it is a security or not.
William Hinman commented:
"If someone's offering an instrument for money or other consideration to a third party, and that third party expects the offerer to generate a return or so something that will increase the value of the coin or token or whatever they want to call it, and there's that expectation of return, we're generally going to see that as a securities offering," he said.
Nevertheless, it is unknown the release date for the announced instructions. SEC also said that companies could consult with the local office of the regulator in case any questions arise regarding the classification of their token.
The regulator reportedly strives to put together all the rules and develop the uniform and clear guideline, especially taking into account the recent request of some US officials filed in September regarding exact token classification.