Technology trading startups may be exempted from current securities law restrictions to raise capital using digital currencies or “tokens,” a top U.S. financial regulator proposed, but a transition plan would be required after three years. The plan must show whether those products can continue to be traded as securities, or if they change characteristics over time and no longer meet that definition, said Hester Peirce, a U.S. Securities and Exchange Commissioner, at an industry conference in Chicago.
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