SEC has given a last warning on ICOs

[Brawnsugar]

For me, I think the regulations should come at no better time especially with the amount of negatives that have been witnessed with the mammoth number of scam ICOs we've seen in 2018.

[Muhtaixa]

If the SEC is able to impose a penalty on ico, it has to confirm the etfs about bitcoin. Ico's are also part of the crypto market. The SEC can't see things and see things! it has no right! Damn you, SEC!

[Tipsters]

I reckon it would be a good occasion for our portfolio's assessment and find which ICOs came into existence in the jurisdiction of the United States SEC but were not registered. They will be the low hanging fruit for the SEC to enforce fines and to take down which will certainly cause a market dump for those tokens.

I speculate that the ICOs from Asia will take over the top 10 in Coinmarketcap.



Preston Byrne, an Attorney at the ASI and the Founder of Monax, spoke about whether the SEC has successfully excluded the United States from the ICO market, in an interview with CNBC Crypto Trader. He also spoke about the potential risks that can be faced by companies that registered in the US but not with SEC before conducting an ICO.

Byrne stated that the SEC has not precluded ICOs from being registered, whereas, they have just stated that ICOs have to be registered. If not this, then the ICO must be included in an exemption. This includes a private placement deal such as Simple Agreement for Future Tokens [SAFT] under regulation D. The other common exemption is regulation S wherein ICO issuers who are based abroad and have no US touch points are going through compliance to avoid having US touch points.

Byrne further spoke about the current risks faced by ICOs that raised funds in 2016 and 2017, which were registered in the USA but not with the SEC. He stated that that they can face a lot of risk. The Attorney added that an entrepreneur has a few options when faced with compliance problems like meeting with the SEC and coming with a solution.

Read in full https://ambcrypto.com/sec-has-given-a-last-warning-to-the-cryptocurrency-space-says-preston-byrne/

Like what happen with the etherdelta the crackdown will continue til the ICOs. I think those ICO's that have been registered in the years mentioned need to take legal action before losing alot of money (if they still exist today). They are being serious about this.

[kryptqnick]

I think this isn't good on the decentralized part of cryptocurrency. Yes, there are lots of ICOs not on the system but they are from other countries. I hope SEC can see their authority about some jurisdiction on some places. Maybe on US soil, but they must understand that their position has limited powers to impose a threat to cryptocurrency.

Maybe this is not good, but it is at least some real step to reduce the number sponge on the market and increase efficiency for investors. A small but pleasant step, I fully support them.

SEC is trying to ensure that people won't lose that much money on scams. It's a good thing to do and I guess it's okay that SEC in the US authority through which US-based ICOs have to go through in general. However, SEC is about securities and while many ICOs are indeed offering security tokens, not all of them are. If we are talking about an ICO that offers utility tokens that will be used on some platform or something, I don't see why these projects have to go through SEC hell. They probably should be regulated, but in a different way, because they represent something different.

[Quidat]

If the SEC is able to impose a penalty on ico, it has to confirm the etfs about bitcoin. Ico's are also part of the crypto market. The SEC can't see things and see things! it has no right! Damn you, SEC!

ICO and ETF are a bit different in case you missed it. SEC has always the right to seize someone if they weren't following the law. And in most cases in ICO some of them are not which is why SEC need to make any legal actions upon them. It is just a matter of time if SEC would do something about it just like what China did to their country.