Law360 (February 6, 2020, 9:47 PM EST) -- SEC Commissioner Hester Peirce released the text of a proposed rule Thursday that would implement a three-year safe harbor for cryptocurrency projects, allowing startups to issue digital tokens and develop their product without worrying about securities law violations.
Speaking at the International Blockchain Congress in Chicago, Peirce outlined how her safe harbor proposal, Proposed Securities Act Rule 195, would provide startups with the time to develop sufficiently decentralized networks, reducing uncertainty brewing in the crypto market around how and when digital tokens become securities regulated by the U.S. Securities and Exchange Commission.
She explained that the three-year period would provide entrepreneurs...
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