The Commission on securities and exchange Commission (SEC) is configured to take a “balanced position” in the regulation of cryptocurrency and primary offerings of coins (ICO). This was during the congressional hearing, said the Director of the Finance Department SEC William Hinman.

In General, Hinman sees significant prospects in the development of blockchain technology. At the same time, the ICO projects he called an important tool that contributes to the development of alternative methods of doing business. At the same time, he noted that it is impossible to hold the ICO without the sale of the securities, and therefore this sector should be regulated in accordance with applicable law.

However, not all congressmen agreed with the point of view of William Hinman. Thus, the representative of the democratic party, Brad Sherman expressed the opinion that cryptocurrencies negative influence on the development of the national economy. According to him, the ICO and do you need to ban because, unlike the IPO, they do not contribute to the creation of new jobs.

“The task of the securities market is to create jobs in the real economy, — said Sherman. — The IPO [initial public offering] doing it at the time, like ICO work in the opposite direction. They withdraw money from the real economy”

However, Sherman reacted favorably to the prospects of development of the technology of the distributed registry:

“I don’t propose to ban the blockchain. I advocate a ban ICO”

Further, in the course of his speech, Sherman said that “bitcoin is a security because it is an investment”.

In contrast to Sherman, a member of the house of representatives from Minnesota, Tom Emmer noted the importance of the development of the ICO. According to him, not all tokens produced in the course of licenseyou are securities, because users can buy them not for investment purposes, and for use in a particular blockchain system.

ForkLog previously reported that the blockchain and cryptocurrencies for the first time has appeared in the annual economic report of the Congress of the United States.