SEC gives OK to social media platform to issue stablecoin without registering as a security
Cointelegraph
Published Nov 19, 2020 05:36PM ET
Updated Nov 19, 2020 07:20PM ET
The U.S. Securities and Exchange Commission, or SEC, has issued a rare no-action letter in response to a request from a blockchain-backed platform over the issuance of a digital asset.
The SEC letter issued on Nov. 19 says that its Division of Corporation Finance would “not recommend enforcement action” against avatar social platform IMVU issuing its VCOIN digital asset under certain conditions. The commission will allow the firm to offer the token without registering it as a security.
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Written By: Cointelegraph
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