Listen to "Reality Check with Ben Swann" on Spreaker.

SEC Chair Discusses Benefits of Cryptocurrency Regulations

Must Read

Vaccine Passports Used To Create A Lesser Class of Citizens?

Vaccine Passports Used To Create A Lesser Class of Citizens? - powered by ise.media Are vaccine passports being used to...

Arizona Law Gives Business Owners Authority Over Mask Mandates

Arizona Law Gives Business Owners Authority Over Mask Mandates - powered by ise.media Texas lifted its mask mandate a few...

19,000 Children Have Crossed The Border Alone/Sexually Abused at San Antonio Facility?

19,000 Children Have Crossed The Border Alone/Sexually Abused at San Antonio Facility? - powered by ise.media Texas governor Greg Abbott...
Brenden Weberhttp://alteredoutlook.fireside.fm/
Brenden Weber is a recent college graduate from the University of Iowa with a degree in Political Science and Philosophy. He is a writer in journalism and opinion pieces; podcaster in politics, philosophy, and cryptocurrency; and owns a small business in Salt Lake City Utah. https://steemit.com/@brendenweber https://thephilosophyguy.fireside.fm/

Securities and Exchange Commission chairman Jay Clayton recently defended the agency’s regulatory initiatives while acknowledging the legitimacy of initial coin offerings (ICOs) during a talk at Princeton University.

CoinDesk reported that Clayton responded “absolutely not” to a question about whether ICOs are fraudulent, in relation to the agency’s recent regulatory actions against ICOs such as charging Centra Tech’s ICO with fraud.

Sohrab Sharma and Robert Farka of Centra Tech were charged with fraud after they raised $32 million by selling unregistered securities.

- Newsletter -

Clayton made remarks during his talk at “Cryptocurrency and Initial Coin Offerings.” He made headlines during his last public statements when he said he believes that “every ICO” he has seen qualifies as a security.

Chairman Clayton contended that regulatory steps being taken by the agency could actually help the industry mature.

Clayton said to the attendees:

“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 – because this technology is being used for fraud and to the extent that it’s being used for fraud, history shows that government comes down harshly on that technology later.”

He continued, “I think if we don’t stop the fraudsters, there is a serious risk that the regulatory pendulum – the regulatory actions will be so severe that they will restrict the capacity of this new security.”

Currently, cryptocurrency regulations vary state by state and federal plans are not yet clear. However, one certainty is the SEC is not backing away from its plans for ICO regulations, although the Chairman of the SEC hasn’t wavered in his support for the future of blockchain technology.

- Advertisement -

Featrued Sponsors

video

Texas Files Lawsuit Asks SCOTUS To Block 4 States From Participating in Electoral College

Texas Files Lawsuit Asks SCOTUS To Block 4 States From Participating in Electoral College - powered by ise.media Check out our sponsor Kim Daly and...

Unstoppable Domains

Uncensorable blockchain domains. Every domain purchase supports Ben Swann and Truth in Media

Holland Center

Holland Center is a day treatment program and medical clinic for children with autism.
- Advertisement -

Latest News

Vaccine Passports Used To Create A Lesser Class of Citizens?

Vaccine Passports Used To Create A Lesser Class of Citizens? - powered by ise.media Are vaccine passports being used to...
video

Arizona Law Gives Business Owners Authority Over Mask Mandates

Arizona Law Gives Business Owners Authority Over Mask Mandates - powered by ise.media Texas lifted its mask mandate a few weeks ago, and the COVID...
video

19,000 Children Have Crossed The Border Alone/Sexually Abused at San Antonio Facility?

19,000 Children Have Crossed The Border Alone/Sexually Abused at San Antonio Facility? - powered by ise.media Texas governor Greg Abbott says that his office has...
video

Pentagon’s “COVID Detecting Microchip” For Under Your Skin?

Pentagon's "COVID Detecting Microchip" For Under Your Skin? - powered by ise.media A new report from 60 Minutes includes an interview with a scientist from...
video

Life Insurance Unchanged By COVID?

Life Insurance Unchanged By COVID? - powered by ise.media Bob Burnett explains how life insurance rates are telling a very different story about the COVID...
- Advertisement -

More Articles Like This