Wednesday, March 3African Business News
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Tag: Dogecoin

‘SEC will regulate crypto-token that qualifies as securities transactions’

‘SEC will regulate crypto-token that qualifies as securities transactions’

Finance
The Security and Exchange Commission (SEC) has proposed a legal framework that will regulate Crypto-token or crypto-coin investments when the character of the investments qualifies as securities transactions. According to SEC, the proposed regulation was aimed at promoting market efficiency and transparency and not impede the nascent technology. The apex capital market regulator insisted that virtual crypto assets are securities unless proven otherwise,  noting that the burden of proving that crypto assets proposed to be offered are not securities, and therefore not under the jurisdiction of the SEC, is placed on the issuer or sponsor of the said assets. It stated that issuers or sponsors are expected to satisfy the burden of proving that the virtual assets do not constitute s...