The U.S. Securities and Exchange Commission has unveiled a new legal framework for ICOs and other coin offering-related campaigns, Reuters reports.
According to the new plan, crypto-related companies may be exempted from existing restrictions related to the securities laws to raise capital with the help of cryptocurrencies or suggested a senior representative of the SEC. However, the transition plan may take several years.
The SEC Commissioner Hester Pearce claims the idea is to find out whether these products could be sold as securities in the future.
While Pierce's idea is not an official regulator plan, the SEC Chair Jay Clayton will definitely review the proposed framework in the foreseeable future.
"...but it [the plan] is also just a sketch that requires productive engagement from the public," Peirce said.
The plan aims to provide crypto-related companies with a "regulation-free" period focusing on the development process.
If and when the proposal is accepted, the companies would be obliged to release information about the source code and development.
Earlier iHodl reported that the Swiss Financial Market Supervisory Authority FINMA tightened regulation of cryptocurrency-related operations by lowering the threshold value for exchange transactions in cryptocurrencies.
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