The U.S. SEC chairman Jay Clayton doubles down on digital asset securities non-compliance
|- Jay Clayton was speaking at the SEC’s conference held in Washington.
- The SEC issued a guidance document that seeks to determine if digital assets constitute investment contracts.
The chairman of the United States Securities and Exchange Commission (SEC) in his speech on April 8 flagged the crypto space stating that regulation focus will go on. Jay Clayton was speaking at the SEC’s conference held in Washington where he outlines some of the regulatory authority’s roles and activities.
Clayton spoke about the time when existing securities laws have been applied in cases involving noncompliance from crypto entities.
“In the digital assets space, [...] the Division of Enforcement has brought cases that demonstrate that there is a path to compliance with the federal securities laws going forward, even where issuers have conducted an illegal unregistered offering of digital asset securities.”
He continued:
“This path includes appropriate disclosures to investors so they can make a more informed decision as to whether to seek reimbursement or continue to hold their tokens.”
Last week the SEC issued a guidance document that seeks to determine if digital assets constitute investment contracts. On April 3, the authority ruled that a new Initial Coin Offering (ICO) token issued by TurnKey, a startup was not a security token.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.