From VICE
Some ICOs must be registered or they’re unlawful.Read more: https://motherboard.vice.com/en_us/article/j5qz88/oh-shit-the-sec-just-ruled-that-ethereum-ico-tokens-are-securitiesRecently, startups have managed to raise tens of millions of dollars—occasionally in mere minutes, and sometimes without an actual product attached—on the cryptocurrency and app platform ethereum.
Amid the gold rush, a looming concern has been: How will the US Securities and Exchange Commission see all this, and is it, well, legal?
On Tuesday, the SEC announced that tokens that are sold off in crowdfunding events known as Initial Coin Offerings (or ICOs) in ethereum may be considered securities in some circumstances, and are therefore subject to US securities law. Tokens are digital assets that investors may purchase during ICOs, and they usually have some sort of bespoke functionality—in some cases, voting rights or profit dividends—in the app the investor is buying into.
Well that escalated quickly! So Steemians what do you think this will do for the price of Ethereum or subsequently EOS with this latest event? How will this effect the current wild west of ICOs we see now?
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