On the 30th July, Commissioner Hester M. Peirce, of the U.S. Securities and Exchange Commission (SEC),
spoke at a forum about the regulation of blockchain-based tokens. In remarks made in Singapore, Peirce claims by providing a safe harbor so that some digital assets are not treated as securities could benefit their growth. Although the SEC has in the past been stricter on the matter.
Hester Peirce hoped that the SEC will soon finish up writing it’s digital asset regulatory regime. She explains that the agency has made some progress, in May holding a
FinHub forum to discuss securities law on ICOs, the audit of blockchain-based currencies, brokering, and investments in digital assets.
However, the Commissioner also recognized that the U.S. has a much looser definition of securities than other nations. For instance, she points out
Singapore as a country with “much crypto-related activity” which has managed to offer more clarity to digital asset issuers.
Malta, too, has clearer separate regulations for ‘virtual assets’ and ‘virtual tokens’.
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