April 30, 2018

US: ICO Market Is Example Of Unregulated Securities Market, Says SEC Commissioner

US Securities and Exchange Commission (SEC) Commissioner Robert Jackson highlighted consumer protection regarding Initial Coin Offerings (ICO) in an interview on CNBC today, April 30.

When asked about cryptocurrencies and ICOs, Jackson said that he hasn’t yet seen an ICO that wasn’t a security, echoing SEC chairman Jay Clayton’s comments earlier this year. Jackson added that the crypto space “has been full of troubling developments that we’ve seen at the SEC, and especially the ICO space,” adding:

“Investors are having a hard time telling the difference between investments and fraud.”

The ICO market right now, according to Jackson, is a prime example of an unregulated securities market:

“If you want to know what our markets would look like with no securities regulation, what it would look like if the SEC didn’t do its job? The answer is the ICO market.”

However, Jackson doesn’t think this means either more bans or regulation, but rather a focus “on protecting investors who are getting hurt in this market” for right now. He suggested in the future looking into “ways to make those investments work consistent with our securities law.”

At the SEC and Commodity Futures Trading Commission (CFTC) cryptocurrency hearing in February of this year, the conclusion was reached that digital ledger technologies (DLT) like blockchain need the least regulation, ICOs need the most, and virtual currencies fall somewhere in between.

More recently, during a hearing at the US House of Representatives on April 28, the director of the SEC’s Division of Corporation Finance said that the SEC was striving for a “balanced approach” in regards to ICO regulation.

Published at Mon, 30 Apr 2018 18:55:52 +0000

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April 9, 2017

Bannon, Kushner Agree To Stop Fighting, “Bury The Hatchet”

zerohedge.com / by Tyler Durden / Apr 8, 2017 3:31 PM

Following several days of media reports that Trump is close to parting ways with his closest advisors, either chief strategist Steve Bannon who recently was removed from Trump’s National Security Council due to his imploding relationship with Jared Kushner, or chief of staff, Reince Priebus, who has been rumored to be the fall guy for the failure to pass Obamacare, or both men combined, moments ago Reuters reported that Bannon and Jared Kushner met and agreed to “bury the hatchet” over their differences, according to a senior administration official said on Saturday.

The end of the feud supposedly comes as it has “distracted from President Donald Trump’s message” although in recent weeks many are increasingly unsure just what that message is, and even more confused that it suddenly appears to echo the message of Hillary Clinton.

As Reuters details, Bannon and Kushner, reportedly Trump’s most influential adviser not to mention his son-in-law, met on Friday at the request of Reince Priebus who told them that if they have any policy differences, they should air them internally, the official said. The development came at the end of what Reuters dubbed “a relatively smooth week for Trump” which is an interesting way of describing the launch of airstrikes against what may well be a premeditated “false flag” in a bid to boost one’s approval rating.

Prebus’ message to Bannon and Kushner was to “stop with the palace intrigue” and focus on the president’s agenda, the official told Reuters. Both aides left having agreed that it was time to “bury the hatchet and move forward,” said the official, who spoke on condition of anonymity.

A slightly different version comes from Axios, which reports that Trump himself addressed his feuding inner circle: “You guys are close. Knock it off. Work together.”

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