The head of the US Securities and Exchange Commission (SEC), Jay Clayton, in a conversation with CNBC, spoke about the position of the regulator regarding the initial offers of coins, noting that Bitcoin does not have the properties of securities.
During the interview, recent SEC proceedings with ICO-projects Paragon and Airfox were mentioned. The latter were forced to pay a fine and register the tokens as securities.
Clayton stressed that any ICO distributing tokens among US citizens must strictly follow the SEC rules.
“I think it’s clear to all of us that bitcoin is not a security. However, many ICOs fall into this category, ”the official added.
According to him, in order to avoid problems with his department, ICO organizers should conduct tokensals abroad. You can also resort to a closed offer of coins, where up to 35 investors participate. In this case, the tokens do not qualify for the securities, but restrictions are placed on the possibilities of promoting such a project.
Recall the SEC decision to launch Bitcoin ETF from VanEck and SolidX companies will be made until March 2019 .
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