SEC Needs To Better Understand Cryptocurrency Industry
By Harvey Kesner (May 7, 2018, 5:17 PM EDT) -- Educating the U.S. Securities and Exchange Commission staff is expected when dealing with comments issued by the commission. While we are accustomed to some level of education with any issuer, when it comes to blockchain or cryptocurrency companies, there is an entirely new dimension to that effort. While subpoenas fly and much confusion surrounds unregistered initial coin offering sales, the SEC staff struggles to grasp the evolving businesses around blockchain. The staff is grinding out ill-fitted comments to issuers relying on assumptions incompatible with this brand-new industry, often to comical ends. What is clear is that the staff is struggling with the issues and public companies are paying the price with delays and added costs....
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