Recently, representatives of the U.S. securities and exchange Commission SEC have met with several managers of influential corporations in the Silicon Valley. The aim was to convince the authority of a less restrictive interaction with ICOs.
Emissary of the United States Securities and Exchange Commission (SEC), met on the 28. March with the staff of the California Venture-capital firms Andreessen Horowitz and Union Square Ventures to discuss with you the rules for the issuance of ICOs. Both venture capital companies have employed in the past intensively with the financing of crypto Start-ups like Coinbase, open Bazaar, Polychain Capital and several Initial Coin Offerings (ICOs). In addition, both companies were involved in the money collection for the crypto kitties.
Jay Clayton, the Chairman of the SEC, defended on the 6. April the now strict in dealing with crypto-currencies, and ICOs, in order to strengthen the digital economy, as it was called. If you take the case of new Crowdfunding activities by ICO nothing against the scammers, fight back, the pendulum inexorably, Clayton. Otherwise, there is such strict regulations that this had a negative impact on the money collections. Clayton also criticized that the collections of many of the money only on the plans and vague statements of intent based.
SEC was willing to compromise
The representative of Andreessen Horowitz and Union Square Ventures, said during the Meeting that more ICOs will be assigned by the SEC, a concrete Benefit. This would facilitate your process. According to the Wall Street Journal, the staff of the SEC have been very clear, however, that in the case of the authorization and classification of ICOs in the future, too many exceptions to be granted. The ban could be lifted in individual cases. But only if the buyers of the Token is prohibited to sell their shares at a price increase. Thus, the SEC wants to prevent the deposits are used primarily for speculative purposes.