Jay Clayton said that ICOs should willingly follow securities laws which ensure higher protection of customers’ funds while eliminating fraud and manipulation.
China has banned all Security Token Offerings and all activities linked to them. The government wants to regulate the new tokens before legalizing them to eliminate cases of fraud.
The U.S. District Court for the Southern District of California ruled a case between the SEC and Blockvest in favor of the ICO project.
The new guidelines mandate local companies to register with the FSA before launching their ICO digital tokens in the market.
The updated guide clarifies the Singapore central bank’s stance on how certain intermediaries should observe the rules determined by Anti-Money Laundering and Countering Financing of Terrorism policies.
In its first cases, the SEC has brought violations against Floyd Mayweather Jr. and music producer DJ Khaled involving ICO promotion. The SEC noted that using celebrity endorsers was a crucial part of the ICO issuers’ promotional strategy.
Maybe XRP cannot be classified as a security anymore. Max Rich, deputy counsel at the crowdfunding platform Republic says the SEC will use the DAO debacle that happened in the summer of 2016, as the cut-off point.