David Levine, CEO of Indeco, released the following statement in response to SEC Chairman Jay Claytons Statement on Cryptocurrencies and Initial Coin Offerings. Indeco recently announced the worlds first crypto asset pre-sale under the SECs rules for Regulation Crowdfunding (Reg CF) at Token Summit in San Francisco. Reg CF allows everyone, regardless of their net worth or income level, to invest in securities issued by startup companies.
Indeco is encouraged by SEC Chairman Jay Claytons Statement on Cryptocurrencies and Initial Coin Offerings. We believe all blockchain industry participants, including issuers, investors, exchanges and promoters, will benefit from a rigorous set of rules and protections. Indeco plans to issue its token as a security, complying with relevant SEC regulations governing the issuance of securities. By leading the movement to develop compliant tokens, we intend to lead the blockchain movement to the mainstream.
Crypto assets can and will grow to be a major component in investor portfolios around the world. We can accelerate the transition to the blockchain, reducing waste in the system and increasing the benefits of participation, by recognizing the critical role of securities laws and the regulators who enforce them to protect market participants.
David Levine, CEO, Indeco