Two weeks ago, the United States (U.S) Securities and Exchange Commission (SEC) boss was speaking at a gathering in at the University of Princeton. At this event, SEC Chairman Jay Clayton showed a more favourable disposition towards ICOs as compared to the past as he was categorical in his rejection of the notion that all ICOs are fraudulent. Whiles answering a question from a participant about all ICOs being fraudulent and if his agency’s action against a number of ICO projects is testament to such but he responded emphatically “absolutely not.”
This remark was highlighted during a talk on “Cryptocurrency and Initial Coin Offerings.” At the same event, he said that every ICO he has seen on his desk could be regarded as a security. In his opening remarks, he told students present that he is of the belief that “distributed ledger technology has incredible promise for the financial industry.”
The SEC boss informed participants that his outfit is playing an active role in helping to ensure that the nascent Blockchain industry matures properly.
“Is the approach taken in Washington by the SEC adversely affecting distributed ledger technology in other areas? My quick answer is that my hope is that it’s actually helping.”