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Opinion

Wealth management blockchain platform promises new standard for ICOs

Marco Abele, former head of digital for private banking at Credit Suisse, plans to tokenize billionaires’ luxury assets so millionaires can enjoy them too.

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Amid all the buzz about huge fortunes being made almost overnight in cryptocurrency and initial coin offerings (ICOs), SEC chairman Jay Clayton felt compelled to comment in December.

There was some grudging acceptance.

“I believe that initial coin offerings – whether they represent offerings of securities or not – can be effective ways for entrepreneurs and others to raise funding, including for innovative projects.”

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Jay Clayton, SEC

However, there was yet another clear warning: “A change in the structure of a securities offering does not change the fundamental point that when a security is being offered, our securities laws must be followed.”


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