The chairman of the US Securities and Exchange Commission is concerned that ICO has pulled up the scams


nnAccording to Bloomberg News, Jay Clayton, chairman of the US Securities and Exchange Commission, said in an event held in Washington, DC, that ICO activities may be “pulled high”, and may Will affect retail investors. And on Tuesday, the SEC announced the establishment of a new network sector, aimed at “involving the classification of accounting books and the first digital currency issue violations” to monitor.n
nTranslation: Clovern
The head of the US Securities and Exchange Commission (SEC) today expressed concern that the first digital currency issue (ICO) could put buyers into possible fraud.n
According to Bloomberg News, Jay Clayton, chairman of the US Securities and Exchange Commission, said in an event in Washington, DC today that he expects entrepreneurs to sell cryptographic tokens to provide financial support for the development of future block chains May be easily misused in the “pull high schedules.”n
He said:n
n”That’s what I’m worried about in a retail investor.”n
nThe agency’s recent actions have also confirmed Clayton’s concerns. On Tuesday, the SEC announced the establishment of a new network sector, with the aim of overseeing “irregularities involving classified ledger technology and initial digital currency issuance”.n
At the beginning of this summer, the SEC formally outlined the agency’s plan to oversee ICO-related activities and announced that it would consider tokens issued in some instances as securities.n
At the same time, the SEC also revealed the results of the survey on The DAO project, which was based on the ITF financing tool, which collapsed in the summer of 2016 due to a fatal flaw in the code.n
When the results of the survey were released, the agency stated:n
n”According to the specific facts and circumstances, the US Federal Securities Act can be applied to different activities (including distributed classification of accounting technology), without regard to the specific issue or sale of the organization or technology in the form.”n

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