SEC Commissioner Hester Peirce has unveiled her proposal to implement a "safe harbor" for crypto startups, allowing them a three-year grace period after their initial coin offerings to achieve a level of decentralization sufficient to pass the Howey test.
The Securities and Exchange Commission wants to make it easier to become a sophisticated investor. The term is, technically, “accredited investor,” and currently, it translates roughly to “rich.” Since the agency’s crackdown on ICOs, accredited investors have been a primary way to raise money in the cryptocurrency market. Under the Securities Act of 1933’s Regulation D, it is far easier to sell securities to individuals and businesses that meet this standard. The problem with “accredited investors” that the agency feels it needs to solve is summed up nicely in a Dec. 18 statement by the ever-quotable Commissioner Hester Peirce, also known as “Crypto Mom” for her industry advocacy. “Our current definition includes investors that…
According to a survey by State Street Corporation, 94% of the 101 asset managers and owners with $100 billion-plus portfolios said they either have digital assets under management or are planning to add them in 2020.
WASHINGTON—Sometimes the best scheduling comes down to luck. Day Three of the four-day conference known as Fintech Week was clearly scheduled to keep attendees in the vicinity through at least Wednesday. Securities and Exchange Commission Chairman Jay Clayton, Ripple CEO Brad Garlinghouse, and Ethereum co-founder Joe Lubin were all on the scene at the Showroom on 14th St NW. All the better that, by coincidence, the conference locale was just blocks from the high stakes testimony Mark Zuckerberg was delivering at the same time at the Capitol.