Jay speaks the truth!!!
https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11
Today is a good day for Ethereum lovers out there. Along with the recent spike in price, ICOs have a new supporter amongst them: SEC Chairman Jay Clayton.
Clayton released a public statement on the official SEC website, concluding with:
"We at the SEC are committed to promoting capital formation. The technology on which cryptocurrencies and ICOs are based may prove to be disruptive, transformative and efficiency enhancing. I am confident that developments in fintech will help facilitate capital formation and provide promising investment opportunities for institutional and Main Street investors alike.
I encourage Main Street investors to be open to these opportunities, but to ask good questions, demand clear answers and apply good common sense when doing so. When advising clients, designing products and engaging in transactions, market participants and their advisers should thoughtfully consider our laws, regulations and guidance, as well as our principles-based securities law framework, which has served us well in the face of new developments for more than 80 years. I also encourage market participants and their advisers to engage with the SEC staff to aid in their analysis under the securities laws. "
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