The group met with the S.E.C. in Washington on March 28 to present their idea for a safe harbor that would allow some tokens to be categorized as “utility tokens” rather than securities. An S.E.C. spokesman declined to comment on the meeting.
Based on what the SEC has already said and done, and given the reality of these tokens and ICO’s, it seems highly unlikely that they will support the non-securities argument. I realize that some think that they won’t be ruled securities by sheer force of wanting that to be so, or think they can take the money and run. To those people I’d refer the history of the SEC, which describes an orginazatiom which can be glacially slow, and glacially inevitable.
Based on what the SEC has already said and done, and given the reality of these tokens and ICO’s, it seems highly unlikely that they will support the non-securities argument. I realize that some think that they won’t be ruled securities by sheer force of wanting that to be so, or think they can take the money and run. To those people I’d refer the history of the SEC, which describes an orginazatiom which can be glacially slow, and glacially inevitable.