“Investing In America: At the Town Hall Meeting held in Atlanta”, the SEC Chairman has reiterated in his speech where he pointed out that ICOs should be considered as securities, that need regulation. The town hall was highly anticipated because regulators planned on speaking about cryptocurrency regulations and innovation. The session was open to the public and streamed live on the SEC website.

As SEC Chairman Jay Clayton has stated, the newly invented method of fundraising, “tokens and offerings” that feature and market the potential for returns based on the entrepreneurial or managerial efforts of others contain the hallmarks of a security under U.S. law.

The pronunciations reaffirmed that the agencies seek to welcome innovation with Blockchain technology but are also extremely cautious on potential frauds, especially as it relates to retail or individual investors. The stance on ICOs was also the same — that they are securities — though no token or coin was mentioned by name.

Kara Stein, Commissioner of the SEC, said:

“Cryptocurrency has the potential to reduce the cost of investing. It could decrease the cost of capital allocation. We are being challenged, we are being disrupted like everybody else is… and one of the things we’re thinking about is how to embrace the innovation and make sure it’s used effectively. One thing we are thinking through is how to ideally anticipate and prevent problems before they arise.”

As Thailand’s Securities and Exchange Commission (SEC) is set to enforce the latently proposed law of digital asset later this month, five Blockchain-based projects out of 50 propose projects are already expected to initiate fundraising program via initial coin offerings (ICO), according to the Bangkok Post on Wednesday.

However, such projects may have to wait for a while, when a royal decree on cryptocurrency, finalized last month, formally comes into law.

While it seems imprecise why these ICO projects are likely to obtain approval, Thawatchai Kiatkwankul, director of the SEC's corporate finance division, said projects need to have commercial value and go through vetting before they can be considered for registration.

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