September 20, 2020

SEC announces the opening date of the second cryptocurrency and blockchain forum

SEC announces the opening date of the second cryptocurrency and blockchain forum

The US Securities and Exchange Commission plans to launch its second public forum on cryptocurrency and blockchain on May 31.

The forum, held in conjunction with the SEC Strategic 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.

The good news is that the forum is open to the public, which means that regulators are moving towards solving pressing regulatory problems that have been missed so far.

One of the SEC's concerns is the risk of leavingpotentially innovative startups from the country in search of softer and clearer regulation. Over the past year, there has been a clear change in the implementation of the regulatory framework. So finally the concept of security and utility tokens was defined. According to SEC Chairman Jay Clayton, cryptocurrency can be sold as a security if it meets the definition of an investment contract after launch, and that a digital asset can subsequently be sold without a definition of investment.

The forum itself will support directLive broadcast with the participation of a group of industry professionals and scientists whose names have not been disclosed. The focus will be on topics such as ICOs, cryptocurrencies and blockchain.