Today, Jay Clayton, Chairman of the SEC, and Christopher Giancarlo, Chairman
of the CFTC, testified in front of Congress on cryptocurrencies. Here are the
10 most important takeaways from Jay Clayton’s remarks:
1. Bitcoin and Ether are not necessarily currencies. “Simply calling
something a currency or a currency-based product does not mean it is not a
security.”
2. Most utility tokens are securities. “Merely calling a token a ‘utility’
token or structuring it to provide some utility does not prevent the token
from being a security.”
3. Therefore, most ICOs are the sale of securities. “By and large, the
structure of ICOS that I have seen involve the offer and sale of securities
and directly implicate the securities registration requirements.”
4. Exchanges where investors trade tokens are not, in fact, exchanges because
they have not registered with the SEC. “Many trading platforms are even
referred to as ‘exchanges.’ I am concerned that this appearance is
deceiving. In reality, nvestors transacting on these trading platforms do not
receive many of the market protections that they would when transacting
through broker-dealers on registered exchanges or alternative trading systems.
”
5. No ICOs have been registered with the SEC, and the SEC has not approved
any Exchange Traded Funds or other assets related to cryptocurrencies. “If
any person today says otherwise, investors should be especially wary.”
6. ICOs to date have been vulnerable to digital hacks. “10% of proceeds
generated by ICOsXr almost $400MXave been lost to such attacks.”
7. Anti-money laundering and know-your-customer laws must be implemented. “
Market participants should treat payments and other transactions made in
cryptocurrency as if cash were being handed from one party to the other.”
8. ICO promoters, such as platforms and marketing agents, should be careful
not to engage in selling unregistered securities. “Engaging in the business
of selling securities generally requires a license.”
9. The market is ripe for fraud from many different actors. “Experience
shows that excessive touting in thinly traded and volatile markets can be an
indicator of scalping, pump and dump, and other manipulations and frauds.”
10. The new Cyber Unit in the Division of Enforcement is going to be more
aggressive with enforcement actions against those who violate the law. “I
have asked the SEC’s Division of Enforcement to continue to police these
markets vigorously and recommend enforcement actions against those who
conduct ICOs or engage in other actions relating to cryptocurrencies in
violation of the federal securities laws.”
It is clear the SEC is making sure investors are protected and those who defy
the securities laws brought to justice.
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心得:
我認為就這十點結論來看對整個市場是短空長多，想聽聽看大家的意見:D
原文:
https://hackernoon.com/top-10-points-made-by-the-sec-and-cftc-congress-testimony-on-cryptocurrencies-f4c71712624c