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SEC Subpoenas VS. ICO's Revisited: Could SAFT Be Targeted?

Last week, it was informed that the USA SEC (Securities and Exchange Commission), the federal financial watchdog, was targeting ICO’s because some of them might operate outside federal laws. But the real reason for the myriad of subpoenas sent remained a mystery.
But now, new light has been shed on the issue, and it does not look so good for ICO’s. According to this source, the subpoenas were being targeted to companies who based their offerings on a document called the SAFT (Simple Agreement for Future Tokens). This whitepaper offers a series of regulatory definition for an ICO to follow. But if the SEC considers the SAFT premises to be illegal, it could be potentially disastrous for the entire token industry. On the other hand, it could be good for possible investors to avoid scam products in the future.
This is why regulation must ideally be brought to markets early, to avoid possible drawbacks like the ones set ahead for the said industry. With clear rules, investors and customers know their rights and exercise them. But with this development, the future is certainly unclear.

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