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U.S. Regulators Tougher on ICOs than Cryptocurrencies in Yesterday’s Congressional Hearing
Early in yesterday’s congressional hearing on cryptocurrencies and ICOs, SEC chairman, Jay Clayton, stated, “I believe every ICO I’ve seen is a security.” In response to Massachusetts Senator Elizabeth Warren, who asked Clayton whether any ICO had been subject to SEC registration, Clayton replied, “Not one,” and added that unregistered ICOs are illegal. However, he stated that ICOs and cryptocurrencies deserved different regulatory approaches.
Singapore’s Deputy Prime Minister Sees No Need to Ban Cryptocurrency Trading Yet
Singapore’s Deputy Prime Minister Tharman Shanmugaratnam claimed there is no strong case yet to ban cryptocurrency trading. According to Reuters, the Monetary Authority of Singapore (MAS) has been studying cryptocurrencies and their risks. After this research, Shanmugaratnam suggested that while not all coins and tokens will be successful, the full implications of their success will not be known for some time.
Warren Buffet’s Railroad Company Joins Blockchain in Transport Alliance
Berkshire Hathaway’s Railway Company, BNSF Railway Company has joined the Blockchain in Transport Alliance (BiTA). According to Cryptovest.com, BNSF Railway Company is the second largest freight railroad network in North America and is wholly owned by Warren Buffet. FedEx recently became a member of the alliance as well.
Ultimo Founder and Billionaire Businessman to Conduct USD 75 Million ICO
Ultimo lingerie founder, Michelle Mone, and her billionaire business partner, Doug Barrowman, are launching new investment platform called Equi. According to Business Insider, Equi will conduct an ICO in which the founders hope to sell USD 75 million-worth of Equi Tokens. Equi Tokens will be used to invest in tech, biotech, and cryptocurrency companies that Mone, Barrowman, and their team discover for token holders.