The crypto debate is taking place in the halls of Congress. The Securities and Exchange Commission (SEC) has previously ruled that initial coin offerings (ICOs) are securities, but members of Congress are trying to change that view.
In a letter to SEC Chairman Jay Clayton, Senators Tom Carper and Mark Warner asked him to clarify that cryptocurrencies are not securities. They even go as far as to say that if cryptocurrencies are not considered securities, it will be difficult for companies to raise money from investors through ICOs.
The senators have asked the SEC to clarify its position on whether cryptocurrencies like Bitcoin should be treated as securities. They also asked for guidance on whether ICOs should be regulated under US federal securities laws.
Carper and Warner said they were concerned about how ICOs could affect retail investors and their impact on small businesses in Delaware and other states that have invested in the sector through campaigns. crowdfunding or equity investment.