Commissioner Peirce confirmed the information on creating a unified legal framework for tokens
The SEC, in the person of Commissioner Peirce, warned about the ongoing refinement of the code of laws that will be adopted for the sale of tokens.
Hester Peirce clarified that this would be an “extra guide,” created for startups. With it, it will be easy to determine if the projects are subject to SEC requirements.
As a reminder, Hester Peirce, one of the few SEC commissioners, gained fame last year, supporting cryptocurrency. According to her, the Howey Test applied everywhere is not always 100% effective.
The token offers are so variable, and it is impossible to say with full confidence that the token has all the attributes of securities which threatens the future of many really promising and good projects.
Unlike E-CHAT, approved not only in Europe but also in China, as well as in the Asia-Pacific region, other projects are much more complicated. Even William Hinman, SEC Corporate Finance Director, finally realized this.
At the end of last year, he agreed that the regulatory policy even crossed the line. A guide for developers saying which tokens are securities and which are utilities is vital information that will help develop cryptocurrency and blockchain without regard to the financial and tax component of this field.
Fortunately, E-CHAT did not face difficulties in 2018. We are a stable, useful and popular cryptocurrency project with wallet functions, as well as the most popular social networking messenger in Asia.
Our users have the opportunity to make crypto payments around the world, pay with cryptocurrency in stores and support bloggers rewarding them with ECHT tokens. Join us))