Cryptocurrency and ICO news 12.06.2018
SEC Commissioner: it’s “silly” for SEC to write ICO rules
SEC Democratic Commissioner Robert Jackson Jr. said that it’s “silly” for SEC to set rules for ICOs as it such a quickly changing investing mechanism.
Because of the rapid change, rules written today could look foolish three months from now, Jackson said according to Forbes. He pointed to guidance on ICOs as the best tact for the Commission. The commissioner also added what keeps him up at night is retail investors are losing some of their retirement savings to unscrupulous ICO promoters.
At the same time, Jackson said he agrees that all ICOs are securities.