Cryptos Are Becoming Just Another Banker Issued “Investment Vehicle”

Sunday, March 18, 2018
By Paul Martin

THEDAILYCOIN.ORG
MARCH 18, 2018

Not sure what else needs to be known at this point regarding the security and safe passage of cryptocurrencies. Over the past month we have focused specifically on how governments have been enacting rules and regulations to surround cryptos to, either crush them into the nothingness that they are or to tax them into oblivion. Now we learn the SEC is going after ICO’s because people just move into an ICO because it uses the word “crypto” or token or coin or some other buzzword linking it to the crypto market place.

Here is the latest information pointing out the scheme that is cryptos and how regulatory bodies are no longer going to allow the wild west mentality, nor something like bit-connect, to rise up. While this is a positive move in the crypto space it allows government and regulatory bodies to oversee what is happening and determine what can and can not happen with the crypto market place. Regulated, taxed and loaded with fees, sounds like just another banker issued “investment vehicle”, or is it just me?

SEC Official Says ‘Dozens’ of Crypto Investigations Underway

A top official at the U.S. Securities and Exchange Commission (SEC) has confirmed the existence of numerous investigations into initial coin offering (ICO) campaigns.

On Thursday, Stephanie Avakian, co-director of the SEC’s Enforcement Division, said the agency had “dozens” of investigations that relate to cryptocurrency and ICOs, according to Bloomberg BNA, during an appearance at this week’s Investment Adviser Association conference in Washington, D.C. During her remarks, Avakian said that the agency is “seeing a lot in the crypto space.”

“We are very active, and I would just expect to see more and more,” she told the conference.

Reports that the SEC had issued subpoenas to startups running ICOs emerged earlier this month, though the legal requests appear to have begun last year, as previously reported.

The agency is looking for every detail surrounding token sales, one industry lawyer told CoinDesk.

SEC officials have said previously that they are looking into the space for illegal activity, with a particular focus on token sales. Reports indicate that the agency might also be looking into sales that involve Simple Agreements for Future Tokens (SAFTs), which effectively act as a promise to eventually distribute tokens in exchange for immediate funds. Source

SAFT – or said another way; “I will happily pay you on Tuesday for a hamburger today” ~Wimpy

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter