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06/02
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SEC plans to free some ICOs from total control SEC plans to free some ICOs from total control

Startups that conducted ICO a couple of years ago can count on regulatory breaks. This was announced by the representative of the SEC. The agency analyzed the market and decided that digital assets could soon become a financial instrument that did not need to be regulated.

A number of startups have already received from the commission notice on the termination of the proceedings against them (no-action letter). One of the companies was TurnKey Jets. By the beginning of this year, the startup network and its token were mature enough to have a clear functionality and not be recognized as a security.

On the example of TurnKey Jets, a representative of the SEC said that those projects whose tokens at the dawn of their existence had signs of securities, but over the years have become utilities, can count on reviewing the decision and rejecting legal measures addressed to them.

Note that this decision is an important step for the entire crypto-sphere. This demonstrates the flexibility of the regulatory framework and the regulators’ intention not to put a speck on the wheel for truly useful projects!