Gary Gensler: ICO-Tokens are Securities
October 17, 2018
Gary Gensler, former СFТС expert, is convinced, the majority of crypto coins distributed via ICO are securities.
Gensler believes, it is the US CFTC that must monitor all ICO projects with a number of functions including projects registration and description as well as disclosure of required data being among the Committee’s duties.
Gensler also pointed at the importance of regulation of the distributed ledger and noted that although this system is regarded as almost completely secure, full control over the blockchain-based products is necessary. He also stressed it that the major cryptocurrency must be regulated and protected at the level higher than oil industry even.
Note that similar stance was taken by many in the regulatory sector of the US, for example, Valerie Szczepanik , chief SEC advisorm who claimed the following:
“If you want [the crypto] industry to flourish, protection of investors should be at the forefront.”