解局:美国证监会批准首个代币募资(附中英原文)
美国证监会(SEC)昨天正式公开回信,
这是美国证监会发出的第一个针对区块链代币的所谓“
我们先来说一说美国证监会(下文简称SEC)
几点启发
首先,
这就避免了2017年底、
所以这样一来,正如SEC指出的,
然后,在流动性方面,SEC强调,
也就是说,这个代币就是一个系统内流转的代币,
SEC指出,
这一点就卡住了TKJ自己操纵币价,
最后,SEC明确,
也就是说,既然你是实用型代币(utility token),就不许说你有储值增值的功效。
四个字:币用不炒。
邮件中文译文
1933年证券法第2(a)(1)条
2019年4月3日 企业融资监管司的回应
回复:TurnKey Jet公司2019年4月2日发出的来信
基于所述事实,根据您认为代币不是证券的意见,对于TKJ未按《
在达至此立场的过程中,我们特别指出:
TKJ不会使用代币销售所得的任何资金来开发TKJ平台、
代币在被出售的同时可立即被用于其预期功能(购买包机服务);
TKJ将限制代币只能转到TKJ钱包,
在整个项目的生命周期里,
如果TKJ进行代币回购,它只能以比(每个代币1美元)
代币在营销宣传的方式上应强调代币的使用功能,
该立场乃是基于您写给本司信件中的陈述。
此致,
乔纳森 A. 英格拉姆
首席法律顾问,FinHub
企业融资监管司
邮件英文原文
Securities Act of 1933
Section 2(a)(1)
April 3, 2019
Response of the Division of Corporation Finance
Re: TurnKey Jet, Inc.
Incoming letter dated April 2, 2019
Based on the facts presented, the Division will not recommend enforcement action to the Commission if, in reliance on your opinion as counsel that the Tokens are not securities, TKJ offers and sells the Tokens without registration under the Securities Act and the Exchange Act. Capitalized terms have the same meanings as defined in your letter.
In reaching this position, we particularly note that:
TKJ will not use any funds from Token sales to develop the TKJ Platform, Network, or App, and each of these will be fully developed and operational at the time any Tokens are sold;
the Tokens will be immediately usable for their intended functionality (purchasing air charter services) at the time they are sold;
TKJ will restrict transfers of Tokens to TKJ Wallets only, and not to wallets external to the Platform;
TKJ will sell Tokens at a price of one USD per Token throughout the life of the Program, and each Token will represent a TKJ obligation to supply air charter services at a value of one USD per Token;
If TKJ offers to repurchase Tokens, it will only do so at a discount to the face value of the Tokens (one USD per Token) that the holder seeks to resell to TKJ, unless a court within the United States orders TKJ to liquidate the Tokens; and
The Token is marketed in a manner that emphasizes the functionality of the Token, and not the potential for the increase in the market value of the Token.
This position is based on the representations made to the Division in your letter. Any different facts or conditions might require the Division to reach a different conclusion. Further, this response expresses the Division's position on enforcement action only and does not express any legal conclusion on the question presented.
Sincerely,
Jonathan A. Ingram
Chief Legal Advisor, FinHub
Division of Corporation Finance
# 参考文献
[1] Turnkey Jet公司官网:https://www.
[2] SEC英文邮件原文链接:https://www.sec.
[4] 华尔街日报的报道:https://www.wsj.com/
[5] coindesk的报道:https://www.
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