All the ICOs that claim to be registered in the Securities and Exchange Commission ( SEC ) lie, as affirmed yesterday by the president of the US Securities and Exchange Commission, Jay Clayton , in an official statement.
The senior US official advised investors in cryptocurrencies to take “extreme precautions”when backing initial currency offers ( ICOs ), especially those claiming to be registered with the SEC.
The president of the securities regulator warned that “to date there have been no initial offers of currencies in the SEC . If someone today tells you otherwise, be especially cautious. ”
Likewise, it ruled out that the listing in the SEC of products that are listed on the stock exchange “with cryptocurrencies or assets related to cryptocurrencies” has been approved , reports TNW .
Finally, Clayton advised cryptocurrency enthusiasts to investigate and address opportunities that “sound too good to be true” with some skepticism, asking questions and demanding answers from their promoters. “As they are currently operating, there is substantially less investor protection than in our traditional securities markets, with the corresponding greater opportunities for fraud and manipulation,” he said.
Despite his warning messages about the cryptocurrency, blockchain and ICO boom, Clayton expressed great enthusiasm for the future of blockchain : “The technology on which cryptocurrencies and ICO are based can be disruptive, transformative and improve efficiency. . I am confident that fintech developments will help facilitate capital formation and provide promising investment opportunities for institutional investors and business districts alike. ”
Original article and pictures take digitalbodha.com site
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