Venture capitalist Jim Breyer provokes VeChain price rise

VeChain cryptocurrency rose 10% in price after american venture capitalist Jim Breyer published a statement claiming that VeChain is worth investing 
10 January 2018   4058

Jim Breyer is an American venture capitalist, founder and CEO of BreyerCapital, an investment and venture philanthropy firm, a partner at venture capital firm Accel Partners, who is known for having invested in over 40 companies.

Venture capitalist, whose net worth is estimated to be around $2.4 billion, has announced that he has invested in VeChain cryptocurrency.

VeChain is a product management platform integrated with Blockchain technology that puts unique IDs on the Blockchain. Vechain is focusing on transparency through anti-counterfeiting and supply chain management. Counterfeit luxury goods are a big problem and VeChain, if successful, could offer a transformative solution.

Jim Breyer

Jim Breyer stated in his post on Quora that VeChain has a strong team and has already established formidable partnerships with organizations like PwC. The venture capitalist expects Vechain to implement their technology and help get rid of various supply chain inefficiencies. 

I took a bold bet on China over a decade ago and remain as convinced as ever that Chinese innovation will resume at a rapid and competitive pace.

Jim Breyer

The statement of american venture capitalist Jim Breyer may have positively influenced the price of VeCain cryptocurrency, which started rising and showed the increase of 7,22% within past 24 hours and growth of 59,85% during past 7 days.

Vechain Charts january 2018VeChain Charts

Previously, we have reported that VeChain announced partnership with Hubei Sanxin Cultural Media Ltd. to manage digital publication industry.

At the moment of press, these are main market parameters of VeChain:

  • Average price: $4,63
  • Marketcap: $1 283 919 868
  • 24h volume: $146 770 000

SEC May Signal Some Flexibility on ICOs

Looks like senior advisor for digital assets and innovation at SEC is not 100% against ICOs
14 December 2018   25

Some blockchain projects may be able to circumvent the requirements of US securities laws by contacting the Securities and Exchange Commission (SEC) for a so-called non-action letter. As SEC consultant on digital assets and innovations Valerie A. Szczepanik explained, such letters will not be issued often, but this does not mean that they cannot be received at all.

I think that’s a way forward for a lot of people who want to implement some of these things that may not exactly fit in the format of the rules that we want. 

Valerie A. Szczepanik

Senior advisor for digital assets and innovation, SEC

According to advisor, issuers of tokens have three ways to comply with the requirements of the laws: register an offer of securities, declare an exceptional case, or "make sure they're not a security."

In certain cases, the SEC may decide that “maybe this doesn’t fit the letter of our law or regulation but it fits the spirit and we can accomplish all the goals of investor protection”. In this scenario, the SEC may indeed issue such a letter, which will indicate that its employees do not recommend taking legal measures against a particular issuer.

The letters set forth exactly what the person plans to do or the entity plans to do and if it’s something that the SEC feels comfortable with we can release a no-action letter for exemptive relief saying ‘we can recommend no enforcement action.

Valerie A. Szczepanik

Senior advisor for digital assets and innovation, SEC

As reported, her remarks signaling a modicum of flexibility are notable in light of SEC Chairman Jay Clayton’s advice last month to anyone raising money by selling a token that they should “start with the assumption that it is a security.”

Speaking about the principles of recognition of tokens as securities, Valerie recommended to take into account the structure of sales. According to her, only in rare cases the token will not be recognized as a security. Most often, investors expect to profit from investments in such proposals, which is enough to recognize them as the spread of securities.