SEC Chairman: Legal ICO Can Help in Rasing Capital
The head of the US regulator, Jay Clayton, is confident that ICO can really help businesses in raising investments. But for this, crypto crowdfunding should abide by the law.
Summing up the results of the outgoing year Jay Clayton, the head of the Securities and Exchange Commission noted that Initial Coin Offering can help people raise capital.
However, crypto crowdfunding is obliged to follow all existing rules, including laws on the securities issuing and offering. The innovative nature of the ICO should not violate fundamental principles.
According to Jay Clayton, ICO encounters many problems. In particular, the projects do not protect the rights of investors as good as on traditional markets. In addition, there are many more opportunities for fraud and manipulation in the ICO market.
The SEC, the chairman said, devotes a lot of time to the blockchain and crypto assets. Jay Clayton expects this trend will only grow in the future.