Summary
- Paul Atkins, Commissioner of the U.S. SEC, said that most virtual asset projects will not need to fear securities regulations.
- He announced that safe harbor provisions for token offerings (ICO), airdrops, and network rewards will soon be provided.
- He reiterated that the majority of virtual assets are not securities by nature.
According to Decrypt, a digital asset (cryptocurrency)-focused media outlet, on the 19th (local time), U.S. Securities and Exchange Commission (SEC) Commissioner Paul Atkins stated at the Wyoming Blockchain Symposium held at the Four Seasons Resort and Residences Jackson Hole that "we have completely broken from past approaches to virtual asset regulations, and most virtual asset projects will have little to fear regarding securities regulations."
Regarding 'Project Crypto,' he said, "Safe harbor provisions for token offerings (ICO), airdrops, and network rewards will soon be provided," and again emphasized, "the majority of virtual assets are not securities by nature."
Safe harbor is a regime that exempts or relaxes legal sanctions or regulatory applications when specific requirements are met.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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