ICOs Are ‘Effective Way’ to Raise Capital If Rules Are Followed: SEC Chairman

Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), has spoken of the advantages of initial coin offerings (ICOs) as a way to raise capital – with a significant caveat.

In a speech last week, focused on reviewing the SEC’s progress in 2018 and discussing the agenda for 2019, Clayton said “I believe that ICOs can be effective ways for entrepreneurs and others to raise capital.”

However, he added that securities rules must be adhered to where appropriate.

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