after the first cryptocurrency roundtable meeting held by the U.S. Securities and Exchange Commission (SEC), Commissioner Hester Peirce shared some key points. She pointed out that the SEC needs to consider cryptocurrency transactions separately from assets. Many cryptocurrencies themselves are not securities, but the primary issuance of cryptocurrencies used for financing purposes is considered securities trading. Therefore, the SEC is willing to accept inquiries on how to conduct such issuances in the form of registration or exempt transactions. The cryptocurrency working group welcomes reasonable requests for no-action letters or exemptive relief.

Note: Hester Peirce is currently leading the SEC's cryptocurrency working group.