SEC delivers a one-two punch on regulation of digital token sales

The U.S. Securities and Exchange Commission has been busy in the area of cryptocurrencies and initial coin offerings lately, taking enforcement action against a token seller and with its Chairman delivering a personal statement on the topic on the same day.

First, in the latest move by the Commission to regulate ICOs, the SEC has stopped an initial coin offering from “Munchee”, a restaurant review app, for failure to register the tokens it was offering as a security.

A few hours later, Chairman Jay Clayton issued a statement, aimed at both “main street” investors and market professionals, warning smaller investors of the potential risks of investing in cryptocurrencies.

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