ICO Regulation Becomes a Hot Topic for SEC and Congress

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ICO Regulation Becomes a Hot Topic for SEC and Congress

ICO Regulation Becomes a Hot Topic for SEC and Congress | Cryptocurrency News

The cryptocurrency industry has been fueled by Initial Coin Offerings (ICO’s) over the past few years. While they continue to attract the interests of investors, they are also getting some closer scrutiny from government organizations such as the Security and Exchange Commission (SEC) as well as the US House of Representatives.

Why Has ICO Regulation Become a Hot Topic for SEC and Congress?

In a recent article on Financialservices.House.Gov, everything from more balanced regulations to an outright ban is currently being discussed as they relate to ICO’s. Last Thursday, April 26, there was a hearing at the US House of Representatives concerning this very matter. A regulator from the SEC and a member of Congress engaged in a heated debate over the concept of a ‘balanced approach’ towards ICO regulation.

Will Their Be Oversight of the SEC’s Division of Corporation Finance For Initial Coin Offerings?

The report identifies William Hinman as the director of the SEC’s Division of Corporation Finance. From the onset of this hearing entitled “Oversight of the SEC’s Division of Corporation Finance” Hinman touched on the idea that digital assets and ICO’s “continue to evolve.” He was quoted as saying, “We are striving for a balanced approach and one that ensures capital formation while maintaining a strong focus on investor protection.”

Times When A Coin May Achieve A Decentralized Utility In The Marketplace?

One of the main reasons for the hearing was to address the issue of a decline of Initial Public Offerings (IPO’s) across the country. Committee member Bill Huizenga posed the question that suggested ICO’s could be a solution to curbing this decline. He also questioned if all ICO’s need to be regulated. Hinman’s response to these observations and questions was quoted as, “in theory, there is a time when a coin may achieve a decentralized utility in the marketplace, or… there may be coins where a lack of a central actor may make it difficult to regulate.”

Will SEC Verify Initial Offerings Regulated Or Not Qualified As Securities?

Hinman when on to echo the same sentiments as SEC Chairman Jay Clayton that most ICO’s should be viewed as securities. The SEC would be part of the process with entities looking to release tokens to ‘verify that the offerings were regulated or not qualified as securities’ as mentioned in this report.
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Will The SEC Or Congress Regulate Initial Coin Offerings?

Another committee member to an opposing view when Brad Sherman from California disagreed that ICO’s could potentially replace IPO’s. Part of respondents stated that an IPO “provides jobs in the real economy” and ICO’s do “the opposite”. A direct quote from his response went on to add, “It takes money out of the economy, it takes people willing to invest and risk, and says don’t use that ability to risk, don’t use those animal spirits to help create a job for a person who needs one, let alone build a factory for thousands, sit there and trades back and forth in the ICO.”

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1.74%
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$308,149
$20.72M
blockv
BLOCKv
$0.0194882
-1.21%
1.97B VEE
$683,611
$38.37M
dropil
Dropil
$0.00582663
-4.47%
20.10B DROP
$332,241
$117.12M
utrust
UTRUST
$0.0643239
-0.19%
311.26M UTK
$315,572
$20.02M
ost
OST
$0.0677505
-0.44%
355.70M OST
$507,482
$24.10M
airswap
AirSwap
$0.145593
-0.71%
150.00M AST
$660,140
$21.84M
pillar
Pillar
$0.16392
-0.18%
259.35M PLR
$36,409
$42.51M
tokenpay
TokenPay
$3.81656
0.67%
15.47M TPAY
$293,909
$59.04M
credits
Credits
$0.218673
-0.4%
138.27M CS
$1.66M
$30.24M
bitbay
BitBay
$0.0318282
1.67%
1.01B BAY
$38,009
$32.21M
einsteinium
Einsteinium
$0.13042
-1.23%
217.30M EMC2
$473,572
$28.34M
dew
DEW
$0.401113
-1.93%
103.24M DEW
$47,139
$41.41M
ripio-credit-network
Ripio Credit Network
$0.0443671
0.62%
491.58M RCN
$1.46M
$21.81M
amber
Ambrosus
$0.285981
0.69%
144.59M AMB
$368,428
$41.35M
crypterium
Crypterium
$0.491416
-3.74%
79.06M CRPT
$601,479
$38.85M
sonm
SONM
$0.107375
-1.47%
359.60M SNM
$1.80M
$38.61M
bibox-token
Bibox Token
$0.861103
7.79%
104.34M BIX
$35.67M
$89.85M
data
DATA
$0.00543842
-1.43%
4.63B DTA
$877,881
$25.16M
iot-chain
IoT Chain
$0.460053
-0.15%
60.56M ITC
$2.51M
$27.86M
streamr-datacoin
Streamr DATAcoin
$0.0662258
-0.93%
677.15M DATA
$1.16M
$44.85M
adx-net
AdEx
$0.390006
-0.08%
73.43M ADX
$721,720
$28.64M
ruff
Ruff
$0.0490701
0.32%
921.80M RUFF
$1.97M
$45.23M
scryinfo
Scry.info
$0.214271
-1.79%
340.06M DDD
$508,559
$72.86M
salus
SaluS
$26.2202
-0.34%
1.01M SLS
$61,378
$26.50M
quantum-resistant-ledger
Quantum Resistant Ledger
$0.626599
1.58%
52.00M QRL
$2.66M
$32.58M
eidoo
Eidoo
$0.94383
-0.92%
29.26M EDO
$1.50M
$27.62M
medibloc
MediBloc [QRC20]
$0.00414159
-0.54%
2.97B MED
$124,994
$12.29M
singulardtv
SingularDTV
$0.0367403
-0.44%
600.00M SNGLS
$242,118
$22.04M
ion
ION
$1.01222
0.53%
21.69M ION
$9,720
$21.96M
c20
CRYPTO20
$0.978306
0.94%
40.37M C20
$34,486
$39.50M
sophiatx
SophiaTX
$0.183324
-0.51%
193.23M SPHTX
$362,374
$35.42M
spankchain
SpankChain
$0.0710812
0.36%
300.04M SPANK
$263,302
$21.33M
edgeless
Edgeless
$0.344042
-0.45%
95.64M EDG
$429,393
$32.90M
wepower
WePower
$0.0416348
-0.51%
448.53M WPR
$442,022
$18.67M
wabi
WaBi
$0.379444
-2.02%
45.25M WABI
$448,049
$17.17M
telcoin
Telcoin
$0.00111023
1.44%
31.34B TEL
$65,507
$34.80M
appcoins
AppCoins
$0.186376
-1.46%
100.05M APPC
$418,192
$18.65M

Sherman went to ask why the SEC has not stopped ICO’s since they negatively impact the economy. Back in February, the SEC and the Commodity Futures Trading Commission (CFTC) held a cryptocurrency hearing. They came the conclusion that ICO’s need the most amount oversight and real currencies such as Altcoin and Bitcoin to a lesser degree.

Previous News Article: Is Bitcoin Heading Into A Bull Market?

Summary
ICO Regulation Becomes a Hot Topic for SEC and Congress | Cryptocurrency News
Article Name
ICO Regulation Becomes a Hot Topic for SEC and Congress | Cryptocurrency News
Description
The cryptocurrency industry has been fueled by Initial Coin Offerings (ICO’s) over the past few years. While they continue to attract the interests of investors, they are also getting some closer scrutiny from government organizations such as the Security and Exchange Commission (SEC) as well as the US House of Representatives.
Author
Publisher Name
Army Of Bitcoin
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