SEC’s Crypto Czar Says Exchanges That List IEOs May Face Legal Risks – CoinDesk

Speaking Monday at CoinDesk’s Consensus 2019 conference in New York, Valerie Szczepanik, the SEC’s senior advisor for digital assets and innovation, said cryptocurrency exchanges that facilitate token sales for a fee likely meet the legal definition of securities dealers if the issuer or any of the buyers are based in the U.S.

As such, they need to follow the registration and licensing requirements for broker-dealers, alternative trading systems (ATS) or national securities exchanges. And if they’re not, they’re going to be in hot water, according to Szczepanik.

via SEC’s Crypto Czar Says Exchanges That List IEOs May Face Legal Risks – CoinDesk.