US SEC Chairman Clayton Remains Tight-lipped Regarding ICO Enforcement Deals Mishap

On the mention of enforcement deals with ICOs Paragon and Airfox done recently, Jay Clayton, Chairman of the U.S Securities and Exchange Commission stressed on the need of conducting token sales in public with the consumers of United States, under the guidelines of SEC.

Pairing up with Commodity Futures Trading Commission, SEC is siding with the perspective that several tokens of Initial Coin Offering or ICO, each are subjected to scrutiny. It has been also mentioned that the BItcoins are not considered security. Even though the conversation walked through various topics related to cryptocurrencies and the issues affecting the industry of it, Clayton refused to talk about it highlighting on the strict stance of the SEC regulator.

Paragon and Airfox are both accused of selling security tokens which are unregistered and are penalized to pay back to the investors with millions along with fine implied. The companies had risen near about $27 million from their Initial Coin Offerings but now are bound to repay to their investors as compensation.