The SEC points out that some digital currency market participants and promoters of initial coin offerings (ICOs) are not following federal and state laws that govern other parts of financial markets, such as stocks and bonds.
“If you have an ICO or a stock, and you want to sell it in a private placement, follow the private placement rules. If you want to do any IPO with a token, come see us. File financial statements, file disclosure, take the responsibility our laws require,” said Clayton in an interview with CNBC.
Earlier this year, Clayton said all ICOs are securities and that the SEC intends to regulate them as such, meaning ICOs will be held to the same laws, regulations and standards as equities and bonds, among other asset classes.
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