Crypto Industry Lauds Token Safe Harbor, but Warns of Risks
Crypto advocates are praising SEC Commissioner Hester Peirce’s token “safe harbor” proposal, though not without questioning the details.
The SEC is trying to freeze the assets of a cryptocurrency mining and multilevel marketing scheme that it claimed bilked investors of $12 million.
BitClave will pay back over $25 million in a settlement with the SEC stemming from a 2017 token sale.
A bill introduced by Rep. Tom Emmer could clarify the status of digital tokens issued as part of a securities offering under securities law.
Telegram will fork over bank records and communications with its investors in an agreement with the SEC as part of the agency's ongoing lawsuit.
A U.S. judge has dismissed a lawsuit alleging the firm changed its name to include "blockchain" in 2017 to boost its share price.
SEC Commissioner Hester Peirce has unveiled her proposal to create a safe harbor for crypto startups, allowing them three years to build out their networks before having to address federal securities laws.