The US Securities and Exchange Commission (SEC) intends to clarify when and how encryption can be identified as a security, CoinDesk writes with reference to the agency's statement.
Speech by Finance Minister William Hinman at the Fintech Week in Washington said the regulator intends to announce the rules available to organizers of "cheap English" sales. The handbook helps developers to determine if their tokens can be identified as securities, Hinman said, without specifying when the SEC will publish the promised documents.
If developers can not determine clearly whether or not they issue a safety certificate, they need to contact the regulator's new financial centers dealing with such matters, Hinman added.
The SEC is also prepared to provide critical starters with advice on accounting records, recording and evaluation. Some of the statements that have been received by the regulator so far have already given rise to similar problems.
"I think we should try to put everything together and share it. We want to share something a bit more open," he said.
This guide also discusses events in the secondary market so that developers can handle their tokens after the bulk of the campaign is complete.
Speaking about the factors that the SEC takes into account when recognizing the symbol as a security, Hinman showed the return on the expected invested capital of the proposed tools.
"If someone provides a monetary instrument to a third party and this person expects something to profit or something that increases the value of a coin or emblem, this proves that we are dealing with a security breach," he explained.
At the end of September, the US Legislators' Group asked the SEC to clarify the situation of securities and tokens in the critical currency market.
remember The SEC has created a new department for interaction with critical currencies. FinHub is interacting with other regulators in the US and internationally.
As was announced The SEC summarized the policy for projects that received funding through the ICO.
We have also written the US Stock Exchange Commission two life-long bans were imposed on the ICO's organizer.