Crypto coins no different than stocks – SEC Chairman

North America United States

Chairman of the U.S. Securities and Exchange Commission (SEC) Jay Clayton revealed, that the agency sees little difference between trading stocks and inviting people to invest in ICOs as both falls under the federal securities laws.

He added that no matter how cryptocurrencies are classified, bokes must follow KYC/AML regulations. He did not, however, reveal if SEC has any plans to issue formal regulations in ICOs and crypto tokens.

“Your responsibilities on knowing your customer are the same as if someone shows up and plunks a bag of cash on your desk,” said the Chairman.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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