SEC Gives ICO Guidelines
In a continuous effort to formalize the cryptocurrency sector, the U.S. Securities and Exchange Commission (SEC) to Twitter to reemphasize five key guidelines for initial coin offerings (ICOs).
A section on SEC’s official website was dedicated to the five aspects of ICOs the commission deems crucial, as well as a separate section for investors and market professionals.
The five points listed have to do with the overall viewpoint of the SEC, which includes a confirmation that any token issued in an ICO can be security in need of registration with the SEC, regardless of how its issuer refers to it.
The guide also made references to potential risks involved for investors, beckoning on them to do due diligence before investing their money with these coins.
“While these digital assets and the technology behind them may present a new and efficient means for carrying out financial transactions, they also bring an increased risk of fraud and manipulation because the markets for these assets are less regulated than traditional capital markets.”
Last week, SEC chairman Jay Clayton gave substantial testimony about ICOs as part of a hearing on cryptocurrency, similarly underscoring the need for investor protection.
NEM Foundation On A New Path
NEM has announced the start of new plans to its community. But before the announcement, the NEM Secretarial Office, which is the voice of the NEM Foundation’s executive committee and council, said he had one final message.
The message was that the NEM Foundation, community members knew before “is gone.”
This message came in an effort to remain true to their values of transparency, acknowledging that the foundation is facing severe financial difficulties and a realization that the previous organizational structure failed.
A financial audit was reportedly done after the current NEM Foundation leadership team took office on the first of this year, revealing that they are running low on the native currency of the NEM blockchain platform, XEM, and fiat funds.
“Please know I understand how confusing things look and we are working to communicate all information to you and the community in a timely manner. Part of this means we have to take extra steps to ensure we are legally and correctly sharing information — this takes time to do.”
Despite these troubling times for the NEM Foundation, members were encouraged to expect to see a stronger leadership, solid governance and more service to the community, partners and the world as we hope for a brighter future.
This week’s airdrops, Rally and Huddl:
Rally
Rally is a blockchain based marketplace where users are rewarded by advertisers to share content and join communities. Rally is dedicated to attributing fair value to content sharing, putting power back in the individual’s hands.
Rally is airdropping up to 1200 RALLY tokens equivalence of $ 60. You can also earn 300 RALLY tokens, the equivalence of $15 for every referral. Current ICO price is 1 RALLY equaling 0.05 USD and it is based on the Ethereum platform.
How to join this airdrop:
- Register for the Rally Airdrop
- Download their App
- Verify your email and phone number.
- Follow them on Telegram
- Follow them on Twitter
- Like them on Facebook
Huddl
Huddl is a transformative mobile platform launched by former BlackRock and Mastercard executives. Huddl allows you to turn their social network into an investment network, and invest with your friends and family. The collective purchasing power unlocks access to premium investments like pre-IPO stocks, hedge funds, private equity, previously available only to the wealthy.
Huddl is airdropping 50 HUDDL tokens and you can earn an additional 10 HUDDL tokens for every referral.
How to join this airdrop:
- Register for the Huddl Airdrop
- Verify your mail
- Share Huddl on social media
- Like Huddl on social media
