SEC Chief to Believe That Not All ICOs Are Fraud

Jay Clayton talked with Princeton students on the topic "Cryptocurrency and Initial Coin Offerings"
06 April 2018   282

Speaking at an event at Princeton University, the chairman of the US Securities and Exchange Commission, Jay Clayton, in response to a question whether all ICOs are fraud, said that it was "absolutely not".

According to Clayton, the measures his agency is taking in recent months should help the development of crypto industry.

Is the approach taken in Washington by the SEC adversely affecting distributed ledger technology in other areas? My quick answer is that my hope is that it's actually helping - because this technology is being used for fraud and to the extent that it's being used for fraud, history shows that government comes down harshly on that technology later.
 

Jay Clayton

Chief, SEC

One of the problems that regulators see in this area, according to Clayton, is to attempt to classify the ICO tokens as utility tokens, which, according to the idea of ​​the organizers of such campaigns, should free them from the obligation to comply with the requirements of the securities law. At the same time, in fact most of these tokens have the characteristics of securities.

If a startup "offering something that depends on the efforts of others, it should be regulated as a security" Clayton said.

If I have a laundry token for washing my clothes, that's not a security. But if I have a set of 10 laundry tokens and the laundromats are to be developed and those are offered to me as something I can use for the future and I'm buying them because I can sell them to next year's incoming class, that's a security. What we find in the regulatory world [is that] the use of a laundry token evolves over time. The use can evolve toward or away from a security. We found that the areas of application of laundry tokens can change over time, both in the direction of acquiring the qualities of a security, and in the opposite direction. 
 

Jay Clayton

Chief, SEC

Nations may experiment with sovereign cryptocurrencies, while startups might develop different kinds applications with the underlying technology, he added.

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TOP-3 Upcoming ICO 22 - 28 Apr According to Our Readers

Let’s check which ICOs from 22nd to 28th April are considered the best according to our readers
23 April 2018   167

Our readers are dedicated cryptocurrency enthusiasts and fans of blockchain technology. We provide them with the ability to express their opinion regularly. Let’s check top three ongoing ICO according to our readers

1. MOMENTUM

Momentum is the world’s first blockchain and crypto-token based marketing automation platform that enables companies to reward their best customers and supporters with crypto-tokens. With Momentum, companies can reward customers in exchange for their attention, business, brand advocacy and data insights, while giving the consumer full control over their personal data. MobileBridge Momentum Token is the token that powers the MobileBridge Momentum platform. Demand for the Momentum will be fuelled by the ever increasing demand for the token as transactions on the MobileBridge Platform continue to increase.

At the moment of press, Momentum is running the private sale, no info on the raised funds available.

2. B2AND

B2AND is a result-oriented cloud-based online platform providing easy-to-use and scalable service utilising viral marketing within marketing campaigns in new innovative and extremely effective way. The new B2AND decentralized eco-system will be based on successful B2AND platform and will rely on a decentralized architecture on Ethereum blockchain supported by B2AND token. The B2AND decentralized eco-system will be transformed through four generations, whereas 1st generation B2AND platform has already been deployed.

B2AND
B2AND

B2AND tokensale started today (23/04/2018). We wish good luck for the team!

3. TV-TWO

TV-TWO is an application for Smart TVs used as the new gateway to linear broadcast combined with a personalized video stream as an additional channel. It is based on blockchain, the technology to orchestrate the new television ecosystem, with direct interactions between users, advertisers and content producers. A custom Ethereum-based token called TTV, the Token for Television, will fuel the ecosystem while ensuring security and fairness.

TV-TWO tokensale hadn't begin yet, but team doesn't lose any time. They have active social network and live shows life. 

We will keep our eye on these campaigns and we hope that their projects will be successful. We are really grateful to our readers for your opinion expression. Please, check the new Top Upcoming ICO and take part in new poll!