The Chairman of the US Securities and Exchange Commission (SEC), Jay Clayton, issued a public statement on Monday regarding Cryptocurrencies and Initial Coin Offerings (ICOs).

The statement serves as a warning to both "Main Street" investors and market professionals

Warning to "Main Street "investors: ask questions, request answers

Clayton begins with a general warning on the cryptocurrency and ICO markets directed towards" Main Street "investors, demand clear answers. "

He also notes the particular risks of investing in crypto and ICOs. As Clayton warns, this makes it harder for national regulatory bodies, such as the SEC, to protect investors from fraud and "bad actors."

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The second section of Clayton's statement is addressed to market professionals, including securities lawyers, accountants and consultants, and emphasizes their responsibility to protect investors. He is encouraged to consider each asset case, whether it is called a coin or a coin, or to determine whether or not it is a security in the US.

Clayton notes that the content of the transaction is more important than the form in determining if an investment is a security. Whatever a token, coin or currency is called, each one must be looked at by the United States. SECURITY AND SECURITY IN SECURITY AND SECURITY IN THE UNITED STATES (19459003)

According to the SEC, an asset would be considered "

In Clayton 's view, the most likely things to do in the United States. they have "utility" functions as:

"By and large, the structures of initial coin offerings investor protection provisions of our federal securities laws. (19459003)

Despite this fact, so far no ICOs have registered with the SEC, as Clayton points out

The conclusion: ICOs could be a good thing, but must be regulated

It is worth noting that Clayton begins with a positive statement on ICOs, saying:

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