A lawyer with the crypto investment arm of venture capital giant Andreessen Horowitz (a16z) says web3 projects should not publicly sell tokens in the US to raise funds. In a new blog post, a16 Crypto general counsel Miles Jennings says that the U.S. Securities and Exchange Commission (SEC) has made it clear that Initial Coin Offerings (ICOs) fall under the ambit of securities laws. The SEC subjected ICOs to securities laws amid the popularity of this fundraising activity in 2017. Jennings says that while the industry has since moved away from public US token sales, ICOs still re-emerge in new forms.
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BCH
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