SEC wants to work on guidelines and offer ICO assistance
The [Securities and Exchange Commission] opportunity to rethink its innovation approach stems from a decade of technology development in the context of blockchain and cryptocurrency. This area has challenged many regulators around the world. The SEC is certainly no exception. We ask ourselves, together with other regulators, how the rules in this area apply or whether a new legal framework would be better. If we act appropriately, we can enable innovation at this new frontier. And without endangering the goals of our securities laws […].
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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