Report issued by SEC on July 25th
https://www.sec.gov/news/press-release/2017-131
- ICO’s and crypto currencies are subject to the requirements of the federal securities laws
- Those participating in unregistered offerings also may be liable for violations of the securities laws
- “We seek to foster innovative and beneficial ways to raise capital, while ensuring – first and foremost – that investors and our markets are protected.”
- "The innovative technology behind these virtual transactions does not exempt securities offerings and trading platforms from the regulatory framework designed to protect investors and the integrity of the markets,"
- They decided not to bring any charges but rather make this a caution alert
- “the federal securities laws apply to those who offer and sell securities in the United States, regardless whether the issuing entity is a traditional company or a decentralized autonomous organization, regardless whether those securities are purchased using U.S. dollars or virtual currencies”