SEC issued a survey report, the securities broker once again called for the development of ICO rules


nnnThe Securities and Exchange Commission (SEC) recently issued a new guide on digital tokens and ICOs, noting that the tokens issued in the DAO project belong to securities and that the issuance and sale of digital tokens should be consistent with the Federal Securities Act The request. The decision did not surprise the industry, but Ouisa Capital, a stakeholder in the industry, said the SEC’s report was far from meeting its requirements and called on the SEC to set up a regulatory sandbox to develop a regulatory framework.n
nnTranslation: Clovern
nThe Securities and Exchange Commission (SEC) recently released a new guide on digital tokens and ICOs, but an industry stakeholder thinks it is far from enough and wants the agency to go any further.n
nCoinDesk reported in May that Ouisa Capital, a New York-based securities dealer, formally filed a clear rule on the issuance of the chain-chain tokens. At that time, the company also called on the agency to form a so-called “sandbox” or to develop a regulatory framework that would allow companies to test new products within limited regulatory limits.n
nThe SEC issued a survey on the DAO project on July 25, triggering the industry’s volatility, and the DAO project was an Ethernet-based financing tool that ended in failure last summer due to code loopholes. The investigators determined that the tokens issued and sold with the DAO project belonged to the securities, but the agency decided not to appeal it.n
nPerhaps the most noteworthy of this release is the SEC’s declaration and sale of digital tokens “should be in line with federal securities law requirements,” but the report also pointed out that the determination of a specific tokens whether to constitute securities depends on its “specific Facts and circumstances.n
nMany people in the industry are not surprised by this decision, and in fact, for the sake of clarity, many observers believe that the SEC’s report is a positive development.n
nHowever, for Ouisa Capital CEO Vince Molinari, the release is far from meeting its requirements.n
nMolinari said in an interview, according to his discussion with the agency, SEC has been “particularly active in the process of participation,” he believes that the results of this release is a “warning for the world.”n
nAt the same time, Molinari advocated a more formal process, drafting proposals, and collecting follow-up feedback from potential stakeholders.n
nHe said to CoinDesk:n
nn”We need to make formal provisions for this, and we can not leave it to the facts and circumstances to decide.”n
nnMolinari went on to say that he thought the SEC would eventually move in that direction and added that Ouisa once again called for the establishment of a regulatory sandbox.n
nHe said to CoinDesk:n
nn”I believe that the SEC will take further steps to clarify this point, and I think it is beneficial to the environment, the investment environment and the tokens environment is conducive to its healthy development, so it has long – term systemic power.n

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