Copy link
Increase text size
Decrease text size
Link copied

U.S. SEC Commissioner Hester Peirce calls for dedicated web page on ICOs, cryptos, and distributed ledger

Hester Peirce. Youtube

Tue, 04 Sep 2018, 09:37 am UTC

SEC Commissioner Hester Peirce has called for a web page devoted to questions and comments about ICOs, tokens, distributed ledger, and other crypto concepts to offer more clarity in these areas.

Peirce, who dissented on the Security and Exchange Commission’s (SEC) rejection of Winklevoss’ bitcoin ETF (exchange-traded fund) application, delved into the complex area of initial coin offerings (ICOs), securities laws, regulatory sandboxes or “beaches” and more in a recent speech.

While noting that some ICOs, or aspects of some ICOs, would seem to fall under the SEC’s jurisdiction, Peirce emphasizes that not all ICOs must be deemed securities offerings.

“Given the undeveloped nature of this area, I am wary of any blanket designation for all ICOs. Instead, the best path forward, at least for the time being, is to evaluate the facts and circumstances of each offering,” she added. “For those ICOs and tokens that do come under the SEC’s jurisdiction, it will fall to us to devise an appropriate regulatory structure for these new types of deals.”

Furthermore, explaining as to why she is wary of regulatory sandboxes, Peirce said:

“What troubles me about sandboxes, however, is that the regulator is typically sitting right there next to the entrepreneurs…To be clear, I am not categorically opposed to such solutions if they work to open the path for new developments...That said, I am mindful of the fact that a regulator’s mere presence can change the tenor of a fruitful conversation.”

Peirce urged regulators to approach ICOs and tokens with intense curiosity, underscoring the need to put in an effort to learn about these new technologies and employing the staff necessary to support their understanding.

“To further these efforts, and for the benefit of all of us at the SEC working on these issues, I recommend that the SEC set up a web page devoted to questions and comments about ICOs, tokens, distributed ledger, and other crypto concepts. We already have an email address—[email protected]—that folks can use to contact SEC staff for the purpose of discussing their fintech projects and regulatory options. A website would be easier for innovators to find,” she added.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,114.00 (+5.89%)
  • Ethereum (ETH) $247.94 (+4.32%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $261.22 (+7.52%)
  • Bitcoin SV (BSV) $204.58 (+5.18%)
  • Bitcoin (BTC) $10,114.00 (+5.89%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.