SEC Commissioner proposes 3-year safe harbor for projects that sell tokens to build decentralized networks
In a speech delivered in Chicago today, SEC Commissioner Hester Peirce unveiled a proposal to create a regulatory safe harbor for projects that sell tokens to build decentralized networks. As long as issuers follow rules that apply to initial fundraisings, they will have 3 years to build a function decentralized network during which the SEC will not apply the registration and trading provisions of the securities laws.
Why it matters:
- If adopted by the majority of the SEC’s commissioners, the proposal will provide some of the clearest regulatory guidance on token sales to date
- With clear regulatory guidelines, the proposal paves the way for token sales to make a comeback, this time around in compliant fashion.
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