Jay Clayton, the chairman of the U.S. Securities and Exchange Commission (SEC), recently discussed the current regulatory climate surrounding initial coin offerings (ICOs). Clayton emphasized that all ICOs must register with the SEC to ensure compliance with U.S. law.
Requirements for Regulatory Compliance
The SEC chairman reiterated that the SEC does not see bitcoin as a security. However, it does view the tokens that are offered in many ICOs as securities. “If you’re going to offer and sell securities, you have to do that in compliance with our laws,” Clayton said.