Wednesday , September 28 2022

SEC: Bitcoin is not a security, unlike many ICO chips


US Securities and Exchange Commission (ESA) chief Jay Clayton, in a conversation with CNBC, spoke about the position of the regulator with regard to initial currency offers, noting that Bitcoin does not have securities.

During the interview, the recent SEC procedures with ICO Paragon and Airfox projects were mentioned. The latter have been forced to pay a fine and register their tokens as securities.

Clayton pointed out that any ICO distribution chips among US citizens must strictly abide by the SEC's rules.

"I think it's clear to all of us that bitcoin is not a safety. However, many ICOs fall into this category."– added the official.

According to him, in order to avoid problems with his department, ICO organizers should do token abroad. You can also make use of a closed offer of coins with up to 35 investors. In this case, the chips do not qualify for the securities, but there are restrictions on how to promote such a project.

Recalls the SEC's decision to launch the Bitcoin ETF from VanEck and SolidX companies by March 2019.

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