The US Securities and Exchange Commission plans to launch its second public forum on cryptocurrency andblockchain on May 31.
The forum, held in conjunction with the SEC's Strategy Center for Innovation and Financial Technology (FinHub), will show the industry what changes the body is considering in regulating the digital space.
So far, the SEC has hindered any progress,for which major industry institutes and exchanges fought, trying to introduce digital currency into mass use, including delays in ETF approval and the lack of clear guidelines for the industry as a whole.
On the positive side, the forum is open to the public, which suggests regulators are moving to address looming regulatory issues that have been overlooked so far.
One of the SEC's issues isthe risk of potentially innovative startups leaving the country in search of softer and clearer regulation. Over the last year there has clearly been a change in regards to the implementation of regulatory frameworks. This is how the concept of security and utility tokens was finally defined. According to SEC Chairman Jay Clayton, a cryptocurrency can be sold as a security if it meets the definition of an investment contract after launch, and that the digital asset can be subsequently traded without being defined as an investment.
The forum itself will support liveonline broadcast with the participation of a group of industry professionals and scientists, whose names have not yet been disclosed. The focus will be on topics such as ICOs, cryptocurrencies and blockchain.
