In his answer letter, Jay Clayton opens up on defining ICO tokens as securities saying that there cannot be a static approach to deal with different crypto assets. Meanwhile, according to the agency’s laws, Ethereum is not the case.
Analysts predict that amidst the long pending work, regulatory agencies won’t give any attention to crypto investment products in the near time.
The company will challenge the U.S. regulators in court over a potential enforcement action against 2017 KIN token offering.
While that the cryptocurrency industry is going through a very rough phase, here are the five events expected to set the growth trajectory of the crypto market in 2019.
Citing the U.S. government shutdown, the VanEck executives said that the decision to withdraw the Bitcoin ETF came as there was no one to talk around from the government.
The regulatory watchdog has recently published a report which talks about the examination and compliance inspection of the emerging cryptocurrency market.
Jay Clayton said that ICOs should willingly follow securities laws which ensure higher protection of customers’ funds while eliminating fraud and manipulation.
Bitcoin recovered yesterday after a 30% decline over the course of the last week. It had seen substantial growth in value in 2017 but suffered a 14-month decline after repeated cases wherein large exchanges were hacked.
Warren Davidson, the biggest bitcoin enthusiast in Congress is set to introduce a new pro-ICO and crypto legislation. He believes that cryptocurrencies can thrive in a Federal-regulated environment.