Crypto Heidi: Former SEC Investigator: SEC is not Acting Fast Enough on Blockchain
Heidi interviewed Gary J. Aguirre, a security attorney, former investigator with the United States Securities and Exchange Commission (SEC) @F50 Synergy event in Silicon Valley.
SEC keeps “both eyes” focusing on ICO and Blockchain projects, because there are a lot of frauds. It is “not surprising SEC is focused on fraud and security in the blockchain market.”
SEC is not acting fast enough and will not to keep a lot Blockchain and ICO projects in the US. For entrepreneurs who want to keep their ICO projects in the US, “there is a risk you may think you are okay, but SEC doesn’t, and you can be on the wrong side of SEC case.”
“It is possible to issue something like ICO, essentially it’s an issue of security token. That helps you place it with the investor. While what you can’t do is to tell that investor that they can trade that security in a year over any kind of exchanges. That I think is the biggest problem right now, there is no way for an investor who buys a token security to sell it downstream. And because of that, who wants to buy that security? If you buy something is an investment, in the back of you mind is, someday you or maybe your offspring will be able to sell it or continue with it. But if there is no market for it, there’s gonna be no value in it.”
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Twitter: @heidihanyu
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