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SEC Statement on Crypto - 11.16.18


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  • 2 weeks later...

A bit of a non-answer update on the status of XRP today per Consensus Invest:



The SEC chairman – who clarified at the outset that he was speaking in a personal capacity, and not on the part of his agency – also honed in on the question of whether the sale of tokens during initial coin offerings (ICOs) constitute securities offerings.

“If you finance a venture with a token offering, you should start with the assumption that it is a security,” he remarked.

Still, Clayton conceded that in some instances, the status of a particular token isn’t as clear-cut. When the topic of distributed ledger startup Ripple and the digital asset XRP was raised, Clayton said that “some of these questions require a lot of information” without going further into that specific topic.

On the other hand, “many are very obvious,” according to Clayton. “I’m selling you my token, I’m going to go off and produce a venture and, hopefully, you’ll get a return for having purchased that token.”



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