Thursday , December 3 2020

The SEC will publish a guide to information for entrepreneurs on the classification of cryptocurrencies CryptoNews



Once published, the companies will be able to read the guide and if they consider that their offer will qualify as an offer of securities, this material will also contain tips on how to register with the SEC. The official added that the guide will contain guidelines on accounting, storage and valuation of tokens as well as issues related to transactions on the secondary market.

Hinman too advised companies to consult the Strategic Center for Innovation and Financial Technologies (FinHub), launched by the agency in October last year. The center consists of staff with experience in the field of financial technology, and its mission is to guide entrepreneurs before starting their projects, accelerating and solving problems that may arise.

Both the guide and FinHub are part of the SEC strategy to help companies develop their ventures, accompanied by a number of pressures to regulate the market and prevent fraud with cryptocurrencies.

In this respect, the joint investigation conducted by Decrypt and Yahoo Finance in October decided that many companies implement ICO projects they prefer to return and pay a fine before they turn to the SECAmong other problems, the main problems faced by projects must be closely related to the definition of their tokens, with the choice between qualifying them as a sign of utility, value or otherwise.

In June last year, William Hinman stated that neither ETH nor Bitcoin (BTC) are securities, noting that digital tokens issued in ICO with profit expectations are considered as financial values, so they must be registered with the SEC and subject to regulations. as such.

Featured image by pixfly / stock.adobe.com


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