SEC responds to questions about sanctions
In a new statement, the SEC said it would investigate cryptocurrency hosting on cryptocurrency exchanges. The SEC also responded to questions about securities tokens. According to the SEC’s announcement, institutions that trade securities tokens can continue to do so for another 5 years.
Securities and Exchange Commission (SEC) today, the Securities Exchange Act Rule 15c3-3 securities to promote innovation related to the implementation of the digital asset, digital asset regarding retention of securities by institutions were announced.
SEC responded to long-term question marks, according to an announcement made on December 23rd. SEC both requested comments on the subject and stated that it wanted to investigate the cryptocurrency industry.
Trading institutions will be protected from sanctions for the next five years, according to the SEC’s announcement:
“In particular, the commission’s position, which will expire after a period of five years from the date of publication of this notification, is that it will not be subject to a commission sanction for institutions operating under the conditions set out in Section 4.”
4 in short. institutions that comply with the rules in the department will not be subject to sanctions, he said.
In addition, the commission is seeking comment to provide an opportunity for additional information on evolving standards and best practices regarding the retention of Digital Asset Securities. Such insights will serve to inform possible future Commission actions in this area.
The commission statement and request for comment are on the Commission’s website and will take effect 60 days after it is published in the Federal Register.