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Solve.Care comment on new SEC Cyber Unit to police ICOs and other DLT ‘Violations’

The U.S. Securities and Exchange Commission (SEC) announced yesterday the creation of a new task force to focus on cyber-related misconduct.

Tucked away in the statement was an intriguing detail: the areas of focus include violations involving distributed ledger technology and initial coin offerings (ICOs).

At the same time, the SEC also revealed a group that will develop initiatives to protect retail investors, which implies greater scrutiny of new instruments.

Given the flood of ICO projects attempting to enter the market, and taking into account the institution’s previous statements on the funding mechanism, it is not surprising that the SEC is dedicating more resources to monitoring activity in the sector.

What is notable is the speed with which the SEC appears to be mobilizing.

While no doubt disquieting some market participants, the increased policing can be interpreted as welcome news for digital tokens in general — rather than dampening innovation, enhanced legitimacy and stronger investor protection could broaden interest, and give the market a stronger fundamental base.

Original source:

Comment from Solve.Care

We welcome the progression towards greater transparency and accountability to protect investors and companies. We at Solve.Care are following best practices for transparency, disclosures and know-your-client requirements. This is why our website and whitepaper has an extraordinary level of detail on market opportunity, roadmap, corporate governance and a plethora of documents to provide all possible information to our token buyers.

We are not offering equity or debt vehicles via our Early Adopter sale, but rather a utility token for our platform that gives the token holder right to use our platform. Regardless, we have adopted the best practices advocated by SEC in terms of disclosures and processes.

Solve.Care is working on a filing with SEC under the appropriate rule, before the Opensale of the platform tokens in Nov 2017. This is one the key reasons why Early Adopter Sale is not available to US buyers.

Originally posted on Medium.

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