U.S. Releases Official ICO Guidance

Fecha : 15/04/2019 @ 11:47
Fuente :ADVFN Crypto NewsWire
Emisora : Bitcoin (BTCUSD)
Cotización : 11350.76000000  325.89000000 (2.96%) @ 03:00
Bitcoin Cotización de acciones Gráfica

U.S. Releases Official ICO Guidance


 
 

Bitcoin Global News (BGN)

April 15, 2019 -- ADVFN Crypto NewsWire -- It was five months ago that the U.S. Securities and Exchange Commission assured guests at a conference during the Washington D.C. Fintech Week Conference that there were guidelines for ICOs coming.

“We’ll elaborate on that in a very plain English way, so ‘do I think I have a security offering,’ look at that guidance and you should be able to sort things out.” - William Hinman SEC Director

The result is a 13 page document that does in fact present the primary objectives of an investment, an ICO and the vital aspects of these financial procedures for both investors and the organizations considering launching an ICO. The document focuses on tokens and outlines how and when these cryptocurrencies would be considered securities.

“The term “security” includes an “investment contract,” as well as other instruments such as stocks, bonds, and transferable shares.  A digital asset should be analyzed to determine whether it has the characteristics of any product that meets the definition of “security” under the federal securities laws.” - https://www.sec.gov/files/dlt-framework.pdf

 

Howey Test

The epitome of determining whether a digital asset is an investment contract is with the “Howey Test.” The essential question is, “does the success of (in this case) the digital asset relay primarily on the efforts of others?” This question is broken down into just two key variables in the SEC’s document:

  • Does the purchaser reasonably expect to rely on the efforts of an AP?

  • Are those efforts “the undeniably significant ones, those essential managerial efforts which affect the failure or success of the enterprise,” as opposed to efforts that are more ministerial in nature?

 

Re-Evaluation

The document also breaks down the methods for re-evaluation after completion of an ICO, or at a time when a digital asset is no longer being sold as an investment The criteria is as follows:

  • The “distributed ledger network and digital asset are fully developed and operational” (meaning individuals can immediately use the token for some function);

  • The token is focused on a specific use case rather then speculation;

  • “Prospects for appreciation” in the token’s value are limited; and

  • If billed as a currency, the token actually operates as a store of value.

  • While this guidance has been a long time coming, and provides some legal clarity for token issuers, it is not a legally binding document, and should be seen more as a guideline.
     

     

     

By: BGN Editorial Staff

Bitcoin (COIN:BTCUSD)
Gráfica de Acción Histórica

1 año : De Jun 2018 a Jun 2019

Haga Click aquí para más Gráficas Bitcoin.

Bitcoin (COIN:BTCUSD)
Gráfica de Acción Intradía

Hoy : Martes 25 de Junio 2019

Haga Click aquí para más Gráficas Bitcoin.
Su Consulta Reciente
BMV
FIBRAPL14
Fibra Prol..
BMV
AMXL
América Mó..
BMV
ME
IPC México
BMV
ALSEA*
Alsea
FX
USDMXN
United Sta..
Las acciones que ha visto aparecerán en este recuadro, lo que le permite volver fácilmente a las cotizaciones que ha consultado previamente
Registrarse ahora para crear su lista personalizada de acciones en streaming.

Cotizaciones PLUS están en tiempo real. Cotizaciones NYSE y AMEX están con retraso de por lo menos 20 minutos.
El resto de las cotizaciones están con retraso de por lo menos 15 minutos al menos que se indique lo contrario.

Al acceder a los servicios disponibles de ADVFN usted acepta quedar sujerto a los Términos y Condiciones

P: V:mx D:20190625 08:00:10