Hedge Fund Arrington XRP Capital focused on digital assets, stop funding for all startups from the United States.
Founder Michael Arrington (Michael Arrington), also known as the founder of TechCrunch, wrote in his Twitter that the company came for the second time a subpoena from the securities and exchange Commission (SEC) on the investment of U.S. companies.
“The legal costs associated with this significant,” notes Arrington. — “We will not invest in any of the American companies as long as the SEC does not specify rules regarding tokens. Turning towards Asia”.
In the following tweet the businessman added that the Fund can pay close attention to Liechtenstein. Arrington did not specify, activities what exactly a startup is exploring the SEC, and what information it asked for. Also not quite clear on what the costs says Arrington in the first tweet.
The entrepreneur said that the SEC needed to clarify the status token, in order to clearly show the rules concerning them. Not only Arrington recently said about it: many players of cryptocotyle insist that the Commission should decide whether it considers tokens of securities or not. On Friday, SEC Chairman Jay Clayton (Jay Clayton) received a letter with a request to clarify the issue with tokens from fifteen congressmen. In the letter, the lawmakers ask whether the sale of the token as sale of securities, and whether the regulator is to revise this classification over time.
In March, Arrington XRP Capital first received a request from the SEC for information. As written media, the agenda from the controller can be connected to his intention to increase the control of the ICO. In response to these assumptions Arrington stated that the request was addressed to him as to a private person in connection with the last year’s investment.