The US Securities and Exchange Commission (SEC) is looking at how cryptocurrency projects were handled in the past, with a focus on whether some token sales should get "retroactive relief".
The Crypto Task Force, formed by the White House, is exploring whether certain past token offerings might receive some form of regulatory flexibility if they meet specific conditions.
Hester Peirce, a commissioner at the SEC, shared in a statement on February 4 that the task force is working on clearer guidelines for digital assets.
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She noted that the group is recommending steps that could offer both future and past regulatory relief for crypto offerings. Peirce stated in the statement:
The Task Force also is thinking about the possibility of recommending Commission action to provide temporary prospective and retroactive relief for coin or token offerings.
Companies may qualify for this if they provide updated information about their assets and agree not to dispute the SEC’s authority if fraud is later found in connection with those assets.
One of the key parts of this effort is determining whether different crypto assets should be classified as securities. She noted, "The status of crypto assets under the securities laws is fundamental to resolving many other questions. The Task Force is working hard to examine different types of crypto assets".
Meanwhile, the SEC in Thailand has planned to launch a digital token trading platform using distributed ledger technology (DLT). What's the purpose of this platform? Read the full story.
