ICO Haven Sent Packing; Singapore follows SEC Lead to Regulate Securities-type Token Sales

Share This
  • Add to Delicious
  • facebook
  • Share on FriendFeed
  • google
  • Digg
  • twitter
  • submit to reddit
  • myspace
  • stumbleupon
  • technorati
  • subscribe rss
Tags

Exactly one week ago, the SEC issued a report concluding that certain token sales could be considered securities, and hence were subject to regulation. Today, the Monetary Authority of Singapore (MAS) issued a similar statement, clarifying that, in some cases, Initial Coin Offerings (ICOs) were essentially equivalent to securities, and should fall under the same regulatory procedures.

I can’t help but feel slightly responsible. After all, just five days before the SEC report was published, I wrote an article describing many of the recent ICOs as tantamount to “buying shares in a stranger’s start-up.”

Oops!

Say What Now?

Sure, the SEC report was a direct response to the hack on the Ethereum side project, the DAO hub, almost a year ago… So I guess that can’t be my fault, but the timing is more than a little suspicious, wouldn’t you say?

Okay, the SEC focussed more on the risks to investors, and (quite rightly IMHO) ascertained this. If the token issued is promising to give investors a return (i.e. dividend), then it should fall under the realm of the SEC, and be subject to regulation. These rules are …

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN