The U.S. Securities and Exchange Commission (SEC) is holding a much-anticipated public forum on May 31st 2019. The forum is being organized by the agency’s Strategic Hub for Innovation and Financial Technology (FinHub). Blockchain industry leaders are looking to attend or watch the event live on the SEC’s webcast.
Initial Coin Offerings
Startup companies are constantly running a fine line between determining the correct regulatory and compliance approach for their new endeavors. An online search of SEC compliance for utility and security tokens provides varied results with conflicting information. In recent years, the distinction between security vs. utility tokens has caused debates among blockchain, cryptocurrency and legal experts as to the correct classification.
Likewise, discussions on Initial Coin Offerings will take place to clarify such confusion for the field. Panelists are expecting to explore this topic during the event with enough detail and clarifications. This presents a major goal of clearing up current requirements for the SEC when raising capital through initial coin offerings.
Digital Asset Platforms
Consequently, the SEC’s enforcement actions against AirFox, Paragon, Crypto Asset Management, TokenLot, and EtherDelta last year raised major concerns. Industry experts are constantly discussing the appropriate securities framework for operating digital asset platforms. Likewise, the SEC has continued to reinforce its position that market participants much adhere to Federal securities laws when dealing with technological innovation. This includes the use of new blockchain technology platforms.
Continuing to Educate
This forum is the second such event by FinHub that is hosting an information panel. Industry and experts in academia will be participating in discussions for the benefit of attendees. The major goal of the event is to foster greater communication and understanding around SEC issues. This includes the SEC’s role in regulating the industry. Information on the appropriate legal standards for dealing with investors is in high demand. In addition, the status of the blockchain and cryptocurrency markets at large are major areas the event will be addressing with future market predictions.
SEC Public Forum Details
The SEC public forum will be held at the SEC’s Washington D.C. headquarters on May 31 and will be open to the public and webcast live via the SEC’s website. Furthermore, additional event details regarding the agenda and participants will be published in the coming weeks on the SEC’s website.