#CRYPTO INSIDER - SEC might consider ICOs as Securities, forcing them to comply with respective Regulations
Will the ICO Business move towards Asia now?
The US Securities and Exchange Commission might increase their regulations on initial Coin offerings, which are well known as ICOs in the crypto world. At least the SEC announced earlier this week that some ICOs could be considered as securities and would therefore be required to subscribe to the necessary regulations.
As ICO participants are investing or better said exchanging their money for a digital currencies. Some projects even raised hundreds of millions of dollars, while being more or less unregulated. It basically was a totally free market so far...
At the time being all firms running ICOs will probably start to change their phrases in official statements & documents to e.g. "participating in a protocol" instead of "owning a share". This way they will eventually outrun the SEC for some time but certainly not forever...
By spreading those words, the SEC gave a clear message that it will take a closer look on the market to prevent people from loosing a lot of money to the bad players in the future.
But many Asia-based ICO Investors and related companies are now pretty much excited, because this announcement by the SEC might shift the focus of the ICOs market to Asia instead. Especially countries like Singapore and China might become the Hotspot for ICOs in the short run as they are very open minded in regards to Cryptocurrencies and blockchain innovations in general.
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(A Proud German Ambassador from & for #Teamaustralia!)
it won't be in the USA.
I think exactly the same right now. The market will probably start to move to Asia within the next 2 months or so...
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