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The small business advocacy group recommends that Congress clarify the status of assets

September 27, 2021 - Around 4 mins mins to read

The US Securities and Exchange Commission (SEC) has submitted a report to Congress containing recommendations from small businesses seeking regulatory clarification on the role of digital assets.

Small Business Advocacy Group recommends US Congress to clarify the state of digital assets 3

27, the SEC’s Office of Small Business Capital Advocacy reported on recommendations from the Commission’s 40th annual Small Business Forum, held in May. Forum attendees – including all 5 SEC commissioners, 14 SEC staff, 12 small business advocates, 11 guest speakers, and 610 other US public attendees – recommend that Congress “clarify the status of digital assets to clarify when it is a security “. . “

The Small Business Forum’s recommendation did not provide additional details on why the group is seeking changes to the regulatory framework related to digital assets. However, the SEC made it clear in its response that the current standard to determine whether cryptocurrencies such as Bitcoin (BTC) qualify as “investment contracts” and are therefore securities uses Howey’s test. In addition, the Commission cited the framework published in 2019 by the Strategic Center for Fintech Innovation and Technology (FinHub), which “analyzes whether digital assets are investment contracts or not and whether offers and sales of digital assets are securities transactions”.

“We encourage market participants who want to determine whether a digital asset is a security to seek advice from a securities advisor and to contact FinHub staff,” the SEC said.

Related: Redefining Finance: Double Growth and SEC oversight, Dec. 19-23 September

The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Cointelegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stablecoins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform.

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The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. 

# Cryptocurrencies

#UNITED STATES OF AMERICA

regulation

Regulation #Bitcoin

SEK

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Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
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The small business advocacy group recommends that Congress clarify the status of assets

The US Securities and Exchange Commission (SEC) has submitted a report to Congress containing recommendations from small businesses seeking regulatory clarification on the role of digital assets.

Small Business Advocacy Group recommends US Congress to clarify the state of digital assets 3

27, the SEC’s Office of Small Business Capital Advocacy reported on recommendations from the Commission’s 40th annual Small Business Forum, held in May. Forum attendees – including all 5 SEC commissioners, 14 SEC staff, 12 small business advocates, 11 guest speakers, and 610 other US public attendees – recommend that Congress “clarify the status of digital assets to clarify when it is a security “. . “

The Small Business Forum’s recommendation did not provide additional details on why the group is seeking changes to the regulatory framework related to digital assets. However, the SEC made it clear in its response that the current standard to determine whether cryptocurrencies such as Bitcoin (BTC) qualify as “investment contracts” and are therefore securities uses Howey’s test. In addition, the Commission cited the framework published in 2019 by the Strategic Center for Fintech Innovation and Technology (FinHub), which “analyzes whether digital assets are investment contracts or not and whether offers and sales of digital assets are securities transactions”.

“We encourage market participants who want to determine whether a digital asset is a security to seek advice from a securities advisor and to contact FinHub staff,” the SEC said.

Related: Redefining Finance: Double Growth and SEC oversight, Dec. 19-23 September

The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Cointelegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stablecoins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform.

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. The Commission is familiar with the slogan. SEC chairman Gary Gensler has repeatedly urged crypto platforms and projects to “come and speak” with the agency instead of waiting for possible enforcement action. Coin telegraph reported in August that the SEC chairman is hoping to introduce crypto-related policy changes regarding stable coins, token offering, decentralized funding, custody, exchange traded funds exchange, and lending platform. 

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