US SEC PROPOSES RULES FOR THE REGULATION OF ENCRYPTED ASSETS

According to Galaxy Research, the United States Securities and Exchange Commission (SEC) submitted on 18 August a proposal for the Regulation Crypto Assets (Reg Crypto) Rules, aimed at establishing a specific regulatory path for the sale and sale of some encrypted assets. Alex Thorn, Research Manager of Galaxy Research, stated that for the first time the proposal reflected the SEC ' s perception of the formal and functional differences between the issuance of tokens and the issuance of traditional equity, and attempted to establish a disclosure framework for encrypted assets. Alex Thorn argued that, while Reg Crypto provided the theoretical basis for the “early release 2.0” version of the compliance version, its short-term impact was more likely to be to help existing tokens to address the uncertainty of the identity of securities than to immediately promote a new wave of public distribution, owing to high United States domestication requirements and continuing disclosure obligations. In addition, he noted that the long-term stability of reliance on the SEC rule alone was still lacking and that, ultimately, Congress legislation was still needed to consolidate the framework for the regulation of encryption。