• Tue, 21 May 2019, 09:28 PM
  • All times are UTC
  • Edition:
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. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,020.91 (+0.70%)
  • Ethereum (ETH) $258.77 (+2.62%)
  • XRP (XRP) $0.399800 (+0.39%)
  • Bitcoin Cash (BCH) $420.56 (+2.43%)
  • EOS (EOS) $6.33 (+0.79%)
  • Bitcoin (BTC) $8,020.91 (+0.70%)
May 21, 2019 (Tuesday)
Crypto exchange Kraken raises over $6.5M in equity funding
Crypto Technicals: BTC/USD hovers around $8000 mark, poised for upside resumption
PBoC-backed Shenzhen Fintech Research Institute seeks blockchain talent
Austrian fiber producer Lenzing to launch blockchain-based traceability platform
Crypto Technicals: Monero pullback finds support at 21-EMA, eyes $100 on upside resumption
US SEC again delays decision on VanEck bitcoin ETF application
Crypto Technicals: NEO/USD bounces off 110-EMA, retraces above cloud, scope for test of 13.85
Honda and GM team up to explore blockchain potential in smart grid and electric car interoperability
Seoul to roll out blockchain-based citizen cards
U.S. IRS to soon issue crypto tax guidance
Crypto and forex scams more than tripled in 2018/19 financial year, FCA finds
Mutual funds network Calastone goes live with real-time blockchain-based platform
May 20, 2019 (Monday)
Crypto Technicals: ETH/USD extends sideways, no major signs of reversal seen
Crypto Technicals: NEO/USD holds 1H 200-SMA support, break below eyes 9.42
ABB, Evolvere launch blockchain pilot for energy sector
Coinbase Earn expands to over 100 countries
Bahamas securities watchdog proposes cryptocurrency regulations
ABN Amro to roll out blockchain and IoT platform for commodities industry
Facebook registers new cryptocurrency firm Libra Networks in Switzerland
Billion, Microsoft to work with University of Warsaw on blockchain development
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.