Cryptocurrencies rose in the market, the SEC member said “ICO is absolutely securities”

nRunaway Comment: With the improvement of technology and people’s understanding, the block-chain encrypted currency investment is on the rise, pushing up the market value of encrypted currencies and breaking the historical record. However, a former SEC commissioner said that the ICO violated securities laws and should be supervised. The U.S. government has been relatively slow in its actions and it expects the government to adopt a set of measures in this area.n
nTranslation: Annie_Xun
Joseph Grundfest, a commissioner at the Securities and Exchange Commission and Stanford Law at the University of Stein, said the ICO is almost an averse comeback to securities law and should be regulated immediately. He also believes he has been in contact with the incumbent government for the relevant work.n
n”The most blatant, blatantly infamous violation of the federal securities laws since the ICO was Code of Hammurabi We are waiting for a complete set of enforcement actions in this area and we wonder why it has not happened yet. I hope they plan to clean up 50 ICOs at one time. “n
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Law troubledn
The SEC has acted on fraudulent products and other countries have strictly banned or warned ICO. However, the SEC is relatively unruffled, and the best known is that there is no statement about the DAO.n
This new investment vehicle generated a staggering $ 3 billion in financing in 2017. Most product distributions are cautiously looking for judicial safeguards, but many distribution activities continue to be relatively open to distribution.n
It remains to be seen whether Grundfest’s views on the SEC’s actions remain to be seen, but the government’s objections to ICO may open the door to law enforcement.n
However, the cryptocurrency market is still on the rise with total market cap of more than 300 billion U.S. dollars this week. New ICO projects have increased and large investments in different types of products have allowed the market to continue rising, especially as people become more aware of it. Nawid Habib, founder of ICO HeadStart, said:n
n”More than 70% do not believe in the centralization and authority we know, and in addition, the current financial institutions do not (not want to) understand the general possibility of blockchain, but mention that 70% are actually beginning to understand And participation These high cryptocurrency demands and investments are likely to be driven by the endless possibilities of blockchain, such as decentralization, smart contracts and unparalleled returns. Centralization as well as anonymity and freedom, coupled with the expense pole Less or even zero, are attracted most loyal followers. “n

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