The US Securities and Exchange Commission (SEC), has advised staff members to be on a lookout for ICOs that violate federal law. The chairman of the SEC, Jay Clayton, has made this decision, and believes there are many ICOs out there that are not operating legally. He has also instructed securities lawyers to give legitimate legal advice to their investors. The SEC staff is now on high alert for ICOs who may look proper on the outside, but are actually illegitimate. Clayton has also pointed out that there are many companies that are inflating their share values due to blockchain technology. The SEC will be analyzing these companies closely to make sure they are adhering to federal securities law.
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