SEC will release a guide to security tokens. The Director of Corporate Finance at the United States Securities and Exchange Commission (SEC) announced that it will show a handbook that will help determine the cases in which a token becomes a security. About this last Friday at the D.C. Fintech Week said SEC Director of Corporate Finance William Hinman.
The handbook will be in English and should help in what cases tokens can be classified as securities. But the commission called the exact dates for the publication of the new leadership.
The initiators of the initial offers of tokens can contact the body called FinHub and get information on the operational response to questions about the compliance of tokens with the characteristics of financial instruments.
According to the director of the SEC, today the commission considers such aspects as reporting, the method of assessment and storage of tokens. All these procedures will be included in the future collection. In addition, it will contain the rules governing transactions in the secondary market.
The SEC representative explained when the commission would determine the token as a security:
“If the issuer offers a third party a monetary instrument or another kind of instrument, and the third party expects profitability or something that will increase the value of the coin or token - or whatever they call it - that is, there will be an expectation of return on investment, then we will consider such a procedure as an offer of securities
