SEC Considers All ICOs as Securities

According to the head of SEC, ICO should be regulated like the securities offering
07 February 2018   1087

The head of the US Securities and Exchange Commission (SEC), Jay Clayton, said that all the ICO held at the time of the hearings in the Senate Committee on Banking Supervision placed shares on the market. Thus, the head of the agency clearly defined the government's position on the status of the tokens issued during the ICO, reports CoinDesk.

I believe every ICO I’ve seen is a security. [At the same time] no project was registered with the SEC.

Jay Clayton

Head, SEC

Massachusetts senator Elizabeth Warren, who takes a tough stance towards the ICO, asked the officer if they violated the securities legislation in this way.

"Yes," he replied.

Clayton also said that the SEC can not determine the exact amount of aggregate investments by US citizens in ICO projects in 2017, but he is convinced that it is large enough for the agency to pay attention.

In his opinion, the organizers of the ICOs know that they must comply with US legislation and SEC regulations, but they ignore it, since regulators have not established a clear framework.

I want to go back to separating ICOs and cryptocurrencies. ICOs that are securities offerings, we should regulate them like we regulate securities offerings. End of story.

Jay Clayton

Head, SEC

Jay Clayton also noted at the Senate hearings that blockchain technology can be very useful for verifying data and creating distributed storage and record keeping systems. 

Сould you please attach your email address for us to send you the most interesting ICO's rating and reviews. No spam.

Eidoo to Release Gold Backed Stablecoin

New stablecoin is called Ekon and it will be possible to it for one gram of gold of 999 test
20 September 2018   252

The Swiss blockchain start-up Eidoo has joined the ranks of projects launching own stablecoins, announcing the creation of a stable coin tied to the price of gold.

Eidoo's stablecoin is called Ekon and is a token compatible with the ERC-20 standard, which will be available in a multi-currency purse and on a hybrid decentralized project exchange. It will be possible to exchange 1 Ekon for one gram of gold of 999 test, which is in a special storehouse. Reserves of gold will be audited every 90 days, moreover, to increase confidence in the token, the company promises to be able to watch gold vault via a video camera.

The profit from the purchase and sale of Ekon within the Eidoo ecosystem will be converted into a native EDO project token.

Despite the uniqueness of the offer of the Swiss start-up, not all experts agree with its usefulness, since the price of precious metal is not so stable. So, for the last six months it has fallen by almost $ 150, however it has grown by $ 25 since the end of August.

In October 2017, Eidoo raised $ 27.9 million in a token, and in April of this year received a license from the Swiss Financial Services Standards Supervision Authority (VQF) under the national financial regulator (FINMA).