Prepare because the ICOS will go to the moon
The U.S. Securities and Exchange Commission decides to equate Icos to securities issuance the U.S. Securities Commission (SEC) has decided to regulate digital currencies as securities, as reported in a statement. The SEC has made this decision after the piracy investigation of the Autonomous Decentralized Organization (DAO) in June 2016. During the attack, hackers managed to steal coins worth $50 million. The SEC has said that the sale of digital assets by "virtual" organizations using blockchain technology is the jurisdiction of federal securities laws: "Research has revealed that the currencies sold by the DAO were values and as such are subject to federal laws." Companies that issue values based on blockchain technology must record transactions, unless they are special situations. Members of unregistered transactions may be charged with violating the securities laws. "Markets that sell such assets must also be officially registered." In addition, the issuance of Criptomonedas or ICOS that skip the laws of the SEC will be punished: "Issuers or distributors of securities based on the blockchain must record purchases and sales of such securities." New technologies could be used to execute investment plans that do not comply with federal securities laws. As the SEC points out, all these measures are necessary to protect investors and control their actions. SEC President Jay Clayton said: "The SEC is studying the impact of distributed records and other innovative technologies and encourages market participants to stay in touch with us." "We strive to promote the development of innovative ways of obtaining capital, but protecting investors and the market is our priority."