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by dnomad
2970 days ago
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Yes, the SEC will continue to take a very light touch. There's no upside to them cracking down on ICOs. The only people losing money are the people who mostly understand the risks of cryptocurrencies and "invest" anyways. The SEC may get serious when grandmothers lose money or there's blood in the streets. Until then there's a kind of regulatory sovereignty that must be defended on a pro forma basis eg the slam-dunk enforcement actions and various announcements that "some ICOs are securities but we won't say which, never the less it's our decision to make and nobody else's." The only real risk to the SEC is that some other regulator like the NFA or the CFTC will step in and say "these coins are currencies and we're gonna regulate them" or "these coins are commodities and we're gonna regulate them." |
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To add: enforcement resources are limited. Every cryptocurrency fraud investigated is a bread and butter fraud ignored. While caveat emptor isn't the law of the land, justice is a slow-turning mechanism. What will be enforced in the long term need not be addressed in the short.