SEC Regulatory Approved ICO’s Secured by SharesPost
SharesPost – private exchanging platform for crypto-token and investment trading has been given the green light by SEC [The Securities and Exchange Commission]. The FINRA registered asset dealing firm from San Francisco has made public that its ATS – Alternative Trading System has grasped the regulatory approval for running Initial Coin Offering’s without scratching any law.
The development could be a signal that regulators from the US could be getting ready for digital currencies. For the time being, laws regarding the verse are quite tight with many fearing rumors that even stricter regulator-standing points could cover the market.
The allowance puts SharesPost under the few firms of the status in the crypto-space to seek regulatory blessings. Coinbase, the largest US cryptocurrency broker, has also approached the SEC for approval to deal in Ethereum and related tokens, and Poloniex narrowly escaped disciplinary measures after it was acquired by Circle.
“If a platform offers trading of digital assets that are securities and operates as an ‘exchange,’” the Commission warned earlier this year, “then the platform must register with the SEC as a national securities exchange or be exempt from registration.”
Various [like the above] warnings have been made by the Securities and Exchange Commission towards exchanging online platforms that could be running unlawfully.
“This is a landmark moment for SharesPost,” said John Wu, the newly-appointed CEO of SharesPost’s Digital Securities Group, in a statement. “We saw a need from our investors to expand their portfolios by having the opportunity to participate in Initial Coin Offerings and trade tokenized securities. The ATS approval allows SharesPost to be one of the first companies to operate in this capacity.”