Jay Clayton drew attention to the ongoing engagement with the crypto space and enforcement of existing legislation.
Speaking at the SEC Speaks conference in Washington, chairman Jay Clayton highlighted the digital currency space while giving a broad overview of the organization’s activities and roles.
Clayton chose to touch principally on instances where existing laws had been used to deal with noncompliance from crypto entities.
“In the digital assets space, […] the Division of Enforcement has brought cases that demonstrate that there is a path to compliance with the federal securities laws going forward, even where issuers have conducted an illegal unregistered offering of digital asset securities,” he said. The chairman continued:
“This path includes appropriate disclosures to investors so they can make a more informed decision as to whether to seek reimbursement or continue to hold their tokens.”
Clayton meanwhile also drew further attention to cryptocurrency’s appearance in the SEC’s in-house Examination Priorities for 2019, compiled in December by its Office of Compliance Inspections and Examinations.
The comments underscore a persisting commitment to crypto and its impact on areas such as securities regulations, the U.S. taking slow but comprehensive steps to formalize their status at the national level.
Last week, the SEC released guidance on determining whether digital assets constitute investment contracts. The same day, April 3, the agency also concluded a new initial coin offering token from startup TurnKey was not a security.
In recent months, the ongoing battle between the regulator and players involved in bringing a cryptocurrency-based exchange-traded fund to market has been more conspicuous.
Despite multiple delays and other setbacks, both the SEC and fellow body the Commodity Futures Trading Commission are continually reviewing the status of corresponding applications, Cointelegraph reported last month.
Source: , CoinTelegraph
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