In early March, the Securities and Exchange Commission (SEC) stated that online platforms that trade cryptocurrency and are considered by securities need to be registered with the agency.
Therefore, start-ups that publish cryptocurrency are busy reporting to US capital market regulators (US).
On Thursday (22/3), the publishers of cryptocurrency began preparing registration called SEC as initial coin offerings (ICOs).
In addition, the SEC gives a start-up requirement to do a "customer check" to make sure everything goes in the legal corridor. The reason, the SEC began to act decisively by imposing the same treatment with share investors to investors cryptocurrency.
"It's better to pay up front fees than later SECs come and silence you," said Armin Ebrahimi, CEO of ShoCard who is preparing for ICO in May 2018.
To date, there are hundreds of cryptocurrency publishing companies that collect billions of dollars with little to provide an investor protection system or customer checks.
However, many formal legal observers consider the cryptocurrency market not to be included in the SEC's authority. However, SEC Chairman Jay Clayton said he believes digital currencies are effective securities and should be regulated as such.
The SEC has also launched a series of investigations stating that, many digital currency publishers as well as their lawyers and advisers may violate the rule of law. So many US law firms are terrified by suggesting digital coin clients to be much more careful.
This SEC's firmness makes many fund-raising activities by the start-up of the cryptocurrency publishers temporarily suspended. At least until such companies have obtained ICO from SEC.