💣 UK regulators reject SEC's token decentralization test
The UK's Financial Conduct Authority has released a consultation paper on utility tokens, rejecting the SEC's decentralization test as criteria to be a security token. According to Twitter analyses from Blockchain's President and CLO Marco Santori, the FCA does not hold jurisdiction over utility tokens because they do not fit the requirements to be called security tokens. FCA consultation papers, however, are not law like SEC statutes. Interested parties have till April 5, 2019 to give feedback to the FCA on the consultation paper.
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