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US clamps down on red-hot digital coin offerings
The SEC says firms that raise money through the sale of these assets must now adhere to federal securities laws
Add BT as a preferred sourcePublished Wed, Jul 26, 2017 · 09:50 PM
Los Angeles
REGULATORS in the US said they have jurisdiction over one of the hottest new areas of finance: initial coin offerings (ICOs) of digital currencies.
Companies that raise money through the sale of digital assets must adhere to federal securities laws, the Securities and Exchange Commission (SEC) said on Tuesday. Issuers must register the deals with the government unless they have a valid excuse, as should exchanges that offer trading of cryptocurrencies such as bitcoin and ether, the regulator said.
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