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美国SEC批准社交媒体平台IMVU发行稳定币,无需注册为证券

2020-11-20 14:54

 

美国证券交易委员会(SEC)罕见的发布了一份不行动函,以回应一个基于区块链的平台对发行数字资产的要求。

SEC在11月19日发布的信中表示,其公司财务部建议“不对社交平台IMVU采取执法行动”,并允许其在特定条件下发行VCOIN数字资产。SEC将允许公司发行代币,而无需将其注册为证券。

发行自己的代币的加密货币公司通常必须遵守SEC的监管框架,事实证明这是有争议的。“证券”的分类是指依赖第三方工作来获取利润的资产。为了遵守不行动函,IMVU需要防止其新稳定币看起来像一个投资机会,例如,Facebook在其天秤座稳定币上就犯了错。

作为工作人员推荐信条款的一部分,美国证券交易委员会表示,IMVU除对VCOIN的购买、兑换和转移有“特定限制”外,仍将受“了解客户”(KYC)和“反洗钱”(AML)法规的约束。不行动函中表示,IMVU将需要使代币“以0.004美元的固定价格、不限量地持续提供”,并且不得在任何第三方平台上“推广或支持代币的上市或交易”。此外,在代币可用之前,这个公司无法使用VCOIN销售收入来升级其网络。

然而,显然,监管机构表示,它建议不针对IMVU采取执法行动,以使VCOIN可以实现其“预期目的”。根据这个平台表示,用户可以从IMVU购买,赚取和转移代币,并兑换成法币。

这封不行动函表达了证券委员会工作人员对执法的意见,而不是法律上的决定。但是,这种不行动函只为加密货币公司发布过两次。2019年4月,SEC确认,它不会建议对飞机公司Turnkey Jet出售TKJ代币采取执法行动。

几个月后,SEC向一位八年级学生发出了类似的不行动函,这个学生希望为其加密游戏公司Pocketful of Quarters发行代币。但是,这两个代币都比VCOIN更保守,因此被批准,因为它们不允许代币兑换成法币。

IMVU首席战略官John Burris对Cointelegraph表示:“与其他两封不行动函不同,这封意义重大,因为这是美国证券交易委员会首次批准ERC-20代币,它在说'嘿,让它离开平台'。可以这么说,它将被允许进入到大众视野。”

虽然Pocketful of Quarters和Turnkey Jet的用例非常有限,但IMVU已经是一个成熟的平台,每月约有700万玩家使用虚拟交易。Burris认为,SEC的决定是基于为更广泛的加密货币和区块链领域建立一个“真正的证明案例”:

“我们的用户已经非常习惯用现金购买数字货币,然后在平台上相互消费。我们对采用非常有信心。”

由于SEC的不行动函中表示,VCOIN代币不能转移到第三方平台,IMVU用户只需支付10%的交易费,就可以将代币从虚拟世界转移到一个私人钱包里。IMVU表示,将根据要求将代币买回。 VCOIN绝对不是比特币,它将以固定价格销售,以后可以增加代币供应量。

IMVU计划从明年1月开始在虚拟环境中销售代币。

 

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 to offer the token without registering it as a security.

Crypto firms issuing their own tokens often have to abide by the SEC’s regulatory framework, which has proved contentious. The classification of a "security" is for assets dependent on the work of a third party to gain profit. To abide by the no-action letter, IMVU needs to keep its new stablecoin from looking like an investment opportunity, which, for example, Facebook got tripped up doing with its Libra stablecoin. 

As part of the terms of the staff recommendation letter, the SEC said IMVU would still be subject to Know Your Customer and Anti-Money Laundering regulations in addition having “specified limits” on VCOIN purchases, conversions, and transfers. The letter stated IMVU would need to make the token “continuously available in unlimited quantities and at a fixed price” of $0.004,  and would not “promote or support listing or trading” of the token on any third-party platform. In addition, the company could not use proceeds from VCOIN sales to upgrade its network before the tokens are available.

However, in an apparent first, the regulatory body stated that it would not recommend enforcement action against IMVU for making VCOINs available for their “intended purpose." According to the platform, users can buy, earn, and transfer the tokens off IMVU to convert to fiat.

The letter expresses the Commission’s staff opinion on enforcement, and is not a legal determination. However, such no-action letters have only been issued twice for crypto firms. In April 2019, the SEC confirmed it would not recommend enforcement action against aircraft company Turnkey Jet in the sale of its TKJ tokens.

A few months later, the SEC issued a similar letter for an 8th grader who wanted to release tokens for her crypto gaming company Pocketful of Quarters. But both of those tokens were approved on the basis of being much more siloed than VCOIN, as they don't allow tokens to go back into fiat.

“This no-action letter is meaningful because unlike the other two, this is the first time an ERC-20 token is being blessed by the SEC — it’s saying ‘hey, take it off platform,’” John Burris, IMVU Chief Strategy Officer said to Cointelegraph. “It’ll be allowed to go into the wild, so to speak.”

While Pocketful of Quarters and Turnkey Jet both had very limited use cases, IMVU is already an established platform, with virtual transactions used by roughly 7 million players monthly. Burris theorized that the SEC’s decision was based on establishing a “real proof case” for the broader crypto and blockchain space:

“Our users are already very comfortable with the use case of using cash to purchase a digital currency and then spending that with each other on the platform. We’re very confident in adoption.”

Because the SEC letter says the VCOIN tokens can’t be transferred to third-party platforms, IMVU users will be able to send them out of the virtual world and into a private wallet, where the company said it will buy them back as requested for a 10% transaction fee. VCOIN is definitely not Bitcoin (BTC) — it will be sold at a fixed price and the token supply can be increased later on.

IMVU is planning to start selling the token in the virtual environment starting in January.

 

 

 

来自: cointelegraph