SEC gives OK to social media platform to issue stablecoin without registering...
The letter states the regulatory agency “will not recommend enforcement action” against a platform issuing a digital currency capable of being converted to fiat. 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....
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