The U.S. Securities and Exchange Commission (SEC) will publish a guide for token developers in "plain English". The new rules will allow determining whether certain coins have the properties of securities.
This was announced by the director of the SEC Corporation Finance, William Hinman:
"We also will be putting out more guidance, the idea is a plain English instrument that people can look at and they'll bring together sort of my Howey-meets-Gary speech, and that analysis ... 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."
The guide will also spell out recommendations for tokens that are in circulation in the secondary market. William Hinman didn’t specify when the SEC will publish the relevant recommendations.
Hinman added that if developers of crypto tokens have doubts about whether they are issuing a security or not, employees of the new financial hub from the SEC will help them figure it out. They will also advise on the accounting, storage and evaluation of tokens.
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