Blockchain and Cryptocurrency: People, Culture and Tech
One concern that the agency has with the regulation of cryptocurrency assets is that while promoters stress the advantages they bring by eliminating intermediaries, securities regulators have long worked with intermediaries in functions such as anti-money-laundering and are comfortable with them.
The U.S. Securities and Exchange Commission’s unrelenting crackdown on unregistered initial coin offerings has claimed another victim—this time, an online gaming and gambling platform that attracted a star-studded list of investors.
Ever since the agency’s crackdown on initial coin offerings, the only way to participate in the private capital markets used to raise money for startups is to meet the definition of an “accredited investor”—which boiled down to “be a millionaire” for individuals and “entities” with at least $5 million.
Speaking at a hearing on her nomination for a second term on the Commission, the Republican appointee promised to “redouble” her effort to create such an environment in order to spur innovation and attract new entrants to the industry.
