Members of the SEC assure that it is necessary to regulate ICOs based on Bitcoin and other cryptocurrencies, to offer greater security to companies that work under the blockchain and cryptocurrencies.

Cryptocurrencies have been on everyone's lips, for some time now and it has nothing to do with the tiresome WannaCry. Its growing popularity is that Bitcoin is rising a lot after being regulated in China and Japan, banks are interested in Ethereum and JPMorgan has put 800 million dollars in Zcash, specifically in the company behind the cryptocurrency, because it is interested in the blockchain theme. All this is causing a rise in cryptocurrencies, in general and of course, the enlightened and the 'gurus' have appeared, who have begun to publish about cryptocurrencies without having the slightest idea.

Leaving aside the factor of the entry of people who do not know about other matters and get to fight in a matter that is very big for them, we must say that a few hours ago, one of the offices of the Securities and Exchange Commission, commented that The companies that create and issue participations under blockchain for their capitalization must have protection for the investors of the project, which is the first serious comment that comes from one of the members of the regulatory body of financial markets and securities of the United States in relation to to cryptocurrencies and their adjacent technologies.

These financing rounds or Initial Coin Offering allow blockchain-focused startups to move from slow and expensive transactions and other banking services or investment firms seeking a profit. Valerie Szczepanik, who is director of the SEC's distributed technology group, said during a conference at Consensus 2017, held in New York, the following: 'Whether or not it is regulated by the SEC, you still have fiduciary duties to your investors. If they want this industry to flourish, protecting investors should be a priority. '

It must be made clear that this is a personal opinion and not a firm position on the part of the SEC, although it has invited the different companies to protect the different investors in all aspects and phases of the financing of the project and the launch of the different platforms and projects.

All blockchain assets that support ICOs can be considered financial assets, in this case being an important criticism of the projects, which should have regulation and supervision by the SEC. On this Szczepanik has commented that they are a security or not, the truth is that 'they are an asset based on the circumstances, so they should be considered as a separate case'.

At this point, we must highlight that the SEC is working on the regulation of all these points and specifically aims at the regularization of Ethereum, among other cryptocurrencies, even allowing operations with some Altcoins on the New York Stock Exchange. The SEC would be developing a regulation of cryptocurrencies and virtual assets, labeling them as securities or titles, to control operations, being something like the system developed by the United Kingdom and Singapore.

Source: CN