hoangvuthach (OP)
Jr. Member
 Offline
Activity: 308
Merit: 7
|
 |
April 07, 2018, 12:05:34 AM |
|
SEC Chairman Jay Clayton: "All ICOs are fraudulent? Obviously not! "
The SEC's top secretary seems to have taken a closer look at his position on the ICO.
At an event held at Princeton University in New Jersey on Thursday, SEC chairman Jay Clayton even denied that any ICO was fraudulent, saying " Not at all "before a question as to whether the SEC's law enforcement actions against the operators of the Blockchain project were for that reason.
The comment was made by Clayton during a seminar on "Digital Currency and First-time Money-Issuance," and is now widely circulated on the mass media by former SEC chairman. There was a very famous statement in February, when he said "every ICO he witnessed was classified as a securities offering."
Clayton opened the speech by praising "scatterplot technology has a very promising future for the financial industry" in front of a crowd of audience.
The SEC chairman then discussed the moves that have been made by the agency to help the electronic money industry grow over time.
Jay Clayton said:
How does washington's approach and sec have a negative impact on distributed diary technology in other areas? My short answer is to hope it is actually helping - because if that technology is being used for phishing as well as considering its scope of application for phishing, history shows It is the government that usually takes action later on.
The SEC chairman added:
I think if we do not quickly stop the fraudulent act, there is a serious risk of "pendulum management" - the government's surveillance actions will be so severe that it will limit the prospect of This kind of new stock.
Argue about "token utility".
On the other hand, Clayton shared his thoughts on the development of terms in the industry.
One of the major problems caused by the issuance of tokens is to classify them as "utility tokens," which will make the ICO unconstrained as a form of securities. As such, the SEC has once again affirmed its view that almost every current token issue is claiming its products have a definite use, despite the fact that they are actually is the stock.
If a startup offers "to offer something based on the common endeavor of everyone, it should be managed as a form of stock," Clayton told the crowd.
To further clarify its position, senior US financial officials use an example to describe the difference between "utility tokens" and "securities tokens."
"If I had a coin to put in a washing machine at a laundry facility, it would not be stock, but if I was offered ten dollars for a laundry detergent, which is still under construction and I buy them to sell to others next year, this is the stock. "
However, Jay Clayton said that the concept is still entitled to change over time.
"Our regulators acknowledge that the use of a laundry coin can change over time, that use may either approach or move away from the definition of what is evidence. package. "
Not to mention, there will be cases where many countries are experimenting with the development of sovereign e-currencies, while startups are now moving to developing applications based on that technology.
In addition, Clayton said that if a token is classified as a security, it changes with the development of the industry:
"Just because it's a stock today does not mean it's going to be the stock market tomorrow, and vice versa."
BTC
|
|
|
|
|
|
lixer
|
|
April 09, 2018, 06:02:46 AM |
|
SEC Chairman Jay Clayton: "All ICOs are fraudulent? Obviously not! "
The SEC's top secretary seems to have taken a closer look at his position on the ICO.
At an event held at Princeton University in New Jersey on Thursday, SEC chairman Jay Clayton even denied that any ICO was fraudulent, saying " Not at all "before a question as to whether the SEC's law enforcement actions against the operators of the Blockchain project were for that reason.
The comment was made by Clayton during a seminar on "Digital Currency and First-time Money-Issuance," and is now widely circulated on the mass media by former SEC chairman. There was a very famous statement in February, when he said "every ICO he witnessed was classified as a securities offering."
Clayton opened the speech by praising "scatterplot technology has a very promising future for the financial industry" in front of a crowd of audience.
The SEC chairman then discussed the moves that have been made by the agency to help the electronic money industry grow over time.
Jay Clayton said:
How does washington's approach and sec have a negative impact on distributed diary technology in other areas? My short answer is to hope it is actually helping - because if that technology is being used for phishing as well as considering its scope of application for phishing, history shows It is the government that usually takes action later on.
The SEC chairman added:
I think if we do not quickly stop the fraudulent act, there is a serious risk of "pendulum management" - the government's surveillance actions will be so severe that it will limit the prospect of This kind of new stock.
Argue about "token utility".
On the other hand, Clayton shared his thoughts on the development of terms in the industry.
One of the major problems caused by the issuance of tokens is to classify them as "utility tokens," which will make the ICO unconstrained as a form of securities. As such, the SEC has once again affirmed its view that almost every current token issue is claiming its products have a definite use, despite the fact that they are actually is the stock.
If a startup offers "to offer something based on the common endeavor of everyone, it should be managed as a form of stock," Clayton told the crowd.
To further clarify its position, senior US financial officials use an example to describe the difference between "utility tokens" and "securities tokens."
"If I had a coin to put in a washing machine at a laundry facility, it would not be stock, but if I was offered ten dollars for a laundry detergent, which is still under construction and I buy them to sell to others next year, this is the stock. "
However, Jay Clayton said that the concept is still entitled to change over time.
"Our regulators acknowledge that the use of a laundry coin can change over time, that use may either approach or move away from the definition of what is evidence. package. "
Not to mention, there will be cases where many countries are experimenting with the development of sovereign e-currencies, while startups are now moving to developing applications based on that technology.
In addition, Clayton said that if a token is classified as a security, it changes with the development of the industry:
"Just because it's a stock today does not mean it's going to be the stock market tomorrow, and vice versa."
BTC
I must say that it is too early for this as it has not been a long period of time for this world to know about any of the crypto currency and that there is a huge number of people who still don’t know anything regarding any of the crypto coin and that under such situations, you can’t comment on anything regarding the future. However, I am very much hopeful that the coming days will be in favor of the crypto coins and that we will then be able to make a better earning out of it. |
|
|
|
gezhid008
Jr. Member
Offline
Activity: 252
Merit: 1
|
|
April 09, 2018, 06:39:00 AM |
|
If it is believed that the digital currency will be the future of the currency, then the next question is in the hundreds of thousands of kinds of digital currency monetary which one to stand out from the crowd, led digital currency market, eventually become digital money market dominance? As things stand, any of these thousands of digital currencies, or any future, is likely to dominate the future digital money market.
|
|
|
|
|
Sanjeewa101
Newbie
Offline
Activity: 280
Merit: 0
|
|
April 09, 2018, 09:55:20 AM |
|
In future We will see tokenize market everywhere in the world, and rise cryptocurrency in near future;D;D
|
|
|
|
|
|
Gozie51
|
|
April 09, 2018, 08:46:32 PM |
|
If it is believed that the digital currency will be the future of the currency, then the next question is in the hundreds of thousands of kinds of digital currency monetary which one to stand out from the crowd, led digital currency market, eventually become digital money market dominance? As things stand, any of these thousands of digital currencies, or any future, is likely to dominate the future digital money market.
From the way things are going and electronic money, cryptocurrency might take the lead in the future but I don't think it will be dominated by just one coin. We might have different digital coins doing that depending on the area of usage. |
|
|
|
Kevin77
Legendary
Offline
Activity: 1652
Merit: 1057
|
|
April 10, 2018, 06:05:43 AM |
|
If it is believed that the digital currency will be the future of the currency, then the next question is in the hundreds of thousands of kinds of digital currency monetary which one to stand out from the crowd, led digital currency market, eventually become digital money market dominance? As things stand, any of these thousands of digital currencies, or any future, is likely to dominate the future digital money market.
Maybe we keep waiting for the any in such case but as it is and the way SEC is regulating the market, I would rather stick my option to few of the coins such as bitcoin that I can trust than gamble holding some alts that may end up being screwed. Also, bittrex being a US based exchange, I have noticed the way it has been bouncing some alts recently and it seems this is what is going to end up happening for most of these coins or tokens if care is not taken. The future of the electronic market must be having brighter future than what we could imagine as electronic gadgets are part of everybody's life along with revolutionary high speed mobile networks and fiber optic internet connections. We cannot expect people to stick with old way of fiat transactions. They will definitely look forward in a level which must be convenient to them. Along with conveniences, cryptocurrencies offer lots of benefits compared to other electronic payment system. When comparing other electronic money system, cryptocurrencies will definitely sustain and will replace all other existing system. |
|
|
|
|
chengyinoing01
Jr. Member
Offline
Activity: 131
Merit: 1
|
|
April 10, 2018, 06:23:56 AM |
|
At present, the outside world of digital currency has yet to have an accurate definition, but for the foreseeable future, the currency in the form of senior shift, may appear in front of our eyes beyond imagination and material applied to life.
Money plays an important role in the economic field. His morphological changes can transmit the changes of global economic and finance, and subtly influence the economic trend.
|
|
|
|
|
3lyntio
Newbie
Offline
Activity: 28
Merit: 0
|
|
April 10, 2018, 08:01:20 AM |
|
Will electronic money become the new medium of exchange, or will it be confined to just a few special niches? Money has three functions in society, and how well electronics serves these functions will determine its future. First, money is a unit of account, or a way to measure and record value. Second, it is a way to store value conveniently for future use. Finally, it is a medium of exchange. For money to fulfil these three functions, it must satisfy certain requirements. It should be easily and broadly recognizable and hard to fake (counterfeit), its value should be reasonably stable, and it should be durable and not deteriorate. Finally and crucially, it should be convenient and inexpensive to use. How will electronics fit into this matrix of functions and requirements? The products being developed today fall into two groups, and it is important to distinguish between them because only one of them is a new form of money. Those referred to as electronic banking do not represent a new kind of money, but rather offer a new way to access a number of traditional bank services with traditional money. Such activities as bill paying and shifting funds among accounts over a telephone or computer connection belong here. The many emerging types of stored value cards and other media, however, do create a new money, as they represent an alternative to government issued or guaranteed instruments. In stored value systems, the liability of the issuer is recorded directly on the card, and a corresponding deposit account is not necessarily maintained for the individual card holder
|
|
|
|
|
hacekd
Member
Offline
Activity: 294
Merit: 12
|
|
April 10, 2018, 09:52:34 AM |
|
The future money is probably no longer in paper or coin, why so most likely future money shaped card (card), or in the form of savings in the form of numbers in the smart phone.
|
|
|
|
Alkhalifi69
Member
Offline
Activity: 307
Merit: 10
|
|
April 10, 2018, 03:46:15 PM |
|
I personally can not say anything for the electronic money market, there will still be a lot of things that will happen for the future. this is still quite new to say is still early to know the world of crypto currency and there are still some circles who also do not know cryptocurency. l hope crypto world will grow well and can be accepted in all countries.
|
|
|
|
|
xIIImaL
Legendary
Offline
Activity: 1372
Merit: 1005
|
|
April 10, 2018, 04:45:56 PM |
|
The future money is probably no longer in paper or coin, why so most likely future money shaped card (card), or in the form of savings in the form of numbers in the smart phone.
Already many government and various banks around the world goes to the digital banking option, If the consumers all knows the bitcoin and alts usage completely every one will go with the personal bank(bitcoin wallet) in future days. We people need educate the people about the usages and merits about bitcoin blockchain system but here no one wants the competition here in the market. Op post seems news information, better he may create a thread on press child board to show the news information. |
|
|
|
|
doge_shit666
Member
Offline
Activity: 350
Merit: 10
|
|
April 10, 2018, 10:38:43 PM |
|
The future money is probably no longer in paper or coin, why so most likely future money shaped card (card), or in the form of savings in the form of numbers in the smart phone.
The future of world currencies is cryptocurrency, I believe in this because the world desperately needs the crypto features of paper money that are outdated. Good things will replace those that are backward, so which country quickly catches up with that trend then the nation will succeed. |
|
|
|
|
chengyinoing01
Jr. Member
Offline
Activity: 131
Merit: 1
|
|
April 11, 2018, 06:33:03 AM |
|
Human beings are entering a new threshold of money, namely electronic currency, credit card and online currency, which will also cause great changes in modern life. In the era of electronic money, perhaps no commercial bank exists, and there is only one central bank in the country.
|
|
|
|
|
|
eann014
|
|
April 11, 2018, 01:13:42 PM |
|
The future money is probably no longer in paper or coin, why so most likely future money shaped card (card), or in the form of savings in the form of numbers in the smart phone.
The future of world currencies is cryptocurrency, I believe in this because the world desperately needs the crypto features of paper money that are outdated. Good things will replace those that are backward, so which country quickly catches up with that trend then the nation will succeed. I don't think that crypto is our future money, I think crypto will always be used online, and as of now we can already use crypto and we can encash it with different kinds of choices we want, like banks or remittance and we only have 21million bitcoin circulating so what if all bitcoins will already be used? |
|
|
|
|
mostcrack
Member
Offline
Activity: 548
Merit: 12
|
|
April 12, 2018, 03:48:51 AM |
|
Too heavy to be electronic money and too far away to think about, there are still many choices crypto has to face, an unstable price issue that is a major issue that coins better fit the so-called digital asset as an additional investment of one's earnings for the future ahead, it's safer for me, again not easy to realize that everything looks cool but many risks and complaints of any central bank or government, everything will not go smoothly.
|
|
|
|
|
d1ceplayer
|
|
April 12, 2018, 07:36:31 AM |
|
In future We will see tokenize market everywhere in the world, and rise cryptocurrency in near future;D;D
I even see the whole stock market moving into cryptocurrency as this is where things would even get more interesting in the long run. The way things are going with the crypto market, a lot of interest are being generated globally and with the idea of having people who can invest across borders makes it even more interesting as most of the projects can easily generate funds as long as they have the product it takes to entice investors. |
|
|
|
|
|
newuser20
|
|
April 13, 2018, 06:26:20 AM |
|
Every year electronic money will gain popularity and will be in great demand, and as a result people will see that electronic money is much more convenient than ordinary money, but when we come to this - it is unknown  |
|
|
|
|
|
gantez
|
|
April 13, 2018, 07:53:33 PM |
|
The faster we understand that the future can't be held back, the better. These are changes that are naturally coming into the societies and the world as a whole and this time, it is influencing the financial system.
|
|
|
|
|
GregoryPorter
Jr. Member
Offline
Activity: 54
Merit: 3
|
|
April 14, 2018, 09:23:28 AM |
|
The confusion surrounding regulation is unreal. IRS describes it as property, sec as an asset and fincen call it a currency. By definition it can't be all the above
|
|
|
|
|
|
yojodojo21
|
|
April 14, 2018, 04:56:12 PM |
|
If big countries, such as included in the first world country start to adopt and make it regulated then every small country which is great in number will follow, if USA, RUSSIA, even just these two adopt crypto currency 100% then it will be easy to initiate other place/country, but since crypto needs exact transparency and security, then it will be temporary to common individuals can only be used through internet.
|
|
|
|
|
|
