SEC Subpoena ICOs? Legit move or panned tactics?
The SEC sends out about 80 subpoenas to companies, projects, advisers and lawyers involved in past ICOs.
Now think of this, might this be a play to trap ICOs from the start on?
The facts are:
- There are no regulations, it's not clear what the law is regarding ICOs and cryptocurrencies, it's undoubtedly that this is grey area.
- They give sufficient time to allow a large number of companies and projects to do their ICOs, this way letting them walk into their trap.
- When the time is right they attack them all for violating the regulations that don't even exist.
Looks a lot like they've done this on purpose.
Don't get me wrong, and this is merely my opinion, but the SEC send out subpoenas is not in itself a problem, since they are only asking the companies about the underlying details of the ICOs, for example which countries they have sold to, how much did they financed, if they did KYC to their costumers.
It's a mine-field I would say, but might this be good for the long term of ICOs? I hope so.
We'll have to wait how this works out, until then we can't be sure.
Anyway please let me know your comments and opinions.
Just an idea.
Thanks!