Caroline Crenshaw, a commissioner at the United States Securities and Exchange Commission, has said the “safe harbor” proposal would have exacerbated the problems seen during the initial coin offering (ICO) boom of 2017 and 2018.
Crenshaw made the remarks during the annual “SEC Speaks” event this month and posted her speech to the SEC website on Tuesday. The commissioner argues that the impact on investors and markets would have been far greater if safe harbor provisions were in place at the time:
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