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Cryptoassets & Blockchain Legal News

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United States

SEC and NASAA call for further Cryptocurrency regulations

January 5, 2018 by Ashley MAO

The concerns raised in the North American Securities Administrators Association (NASAA)’s directive on “Cryptocurrency-Related Investment Products”, cryptocurrencies and ICOs have gained support from three top-tier members of the U.S. Securities and Exchange Commission (SEC) – SEC’s chair Jay Clayton, the former acting Chair of the SEC Michael Piwowar and the author of the 2010 Dodd-Frank Act Kara Stein.

In a jointly released statement, they lauded NASAA for speaking up and reminding investors to take the risk of investing in cryptocurrencies into account. The statement also indicated that at least some cryptocurrency-related investment products may be considered Securities under the current law – with all the legal implications.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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