“The US Regulator’s Decision to Give The Project’s Token Distributions A Pass Represents the Right Get-of-of-of-Yes-The-Way Approach, Commissioner Hester Peirce Said.”, – WRITE: www.coindesk.com
The Sec Staff Agreed to the Startup’s Request that the agency wouldnn’t pursue any registration compliments for tokens Issued for the Special Aims of Doublezero’s Decentralized Physical. Commissioner Peirce Suggested this Open Door for Depn Efforts Keeps The Sec Out of Business It Shouldn ‘.
“Racher than rely on centralized corporate structures to coordinate activity, depin projects enlist Participants to Provide Real-World Capabilites, Such As Storage, TELECAGEC ENERGY, THRUGH OPEN AND DISTRIBUTED PEER-TO-PEER NETWORKS, “She SAID IN A STATEMENT. The Activity Doesn’t Trigger The Supreme Court’s Howey Test – The Test That Decides What Falls Within of the Sec’s Jurisdification – Because Suci Projects rendered, Racher than as investments with An Expection of Profit From the Entrepreneurial or Managerial Efforts of Others. ”
The Sec uses no-action letters to make it Clear What Activities It Doesn’t Intend to Pursue with Enforcement Actions, So Letter to A Single Firm Can Signal to Antire But to reap the Benefits, The Activity Has to Stay Strictly With the Boundaries Outlined in the Sec’s Letter.
“The Line Between Tokens and Securities Law Is Getting Clearer,” Said Austin Federa, Doublezero Co-FOUNDER, IN A STATEMENT TO COINDESK. “Founders Who Once Spent Countless Hours (and Legal Dollars) On This Question Can Focus On Building.”
Doublezero Sounght to incentivize Providers of Infrastructure for Network Connectivity, Such as Large Technology Companies that Control Serniets. This Case, The Protocol’s Native 2z.
“Treating Such Tokens As Securities would Supppress the Growth of Networks of Distributed Providers of Services,” Peirce Said. “Blockchain Technology Cannot Reach Its Full Potential if We Force All Activities Into Exist Financial Market Regulatory Framework.”
The Agency’s Action Drew Praise from Advocates of Decentralized Finance. NO-STATION LETTERS SHOWS THAT Constructive Engase with Regulatory is Posible, ”SAID AMANDA TUMINElli, Execular Director of the Defi Education Fund, in A Blog Posting.
The Sec Has Been Pursuing An Aggressive Course of Pro-Crypto Policy Actions Under Chairman Paul Atkins. Earlier this Week, He Said at A Roundtable Event in the Agency’s Washington Headquarters that Establishing Clear Rules for the Digital Assets Sector Is “Job One” for the Sec. Before Atkins Arrived, Peirce Led The Agency’s Crypto Task Force and Was Already Working on Policy Statements to Clarify the Regulator’s Expectations for the Industry.
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