No Action Relief: Assistance for Applicants
Accordingly, it is also the task of the authority to provide guidelines on which applicants can orient themselves. The Securities and Exchange Commission is working on an advisory opportunity for ICO and STO applications:
Employees are working on some additional guidance to help people think about whether their crypto financing measures are covered by securities laws. There is also a permanent offer for people who can come to the so-called No Action Relief in connection with a specific token or project. Applicants will explain their intention and SEC staff may respond [by recommending a withdrawal of the application].
The authority ultimately creates space for both itself and applicants. With the No-Action-Relief scheme, the SEC saves work in advance while helping applicants to better prepare their applications.
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