Lawyer Stephen Palley: ICO boom is just a flash in the pan and will not happen again

According to AMBCrypto, Stephen Palley, a legal expert in the field of encryption and a partner at Anderson Kill Washington, DC, recently spoke about the lack of information related to the rules of the encryption field. He said the court is applying existing laws to things they don't even know, while claiming that the ICO boom is just a flash in the pan and will not happen again. “I personally don’t tend to use unknown technologies that we don’t understand to raise money. What I know is that what happened between December 2017 and June 2018 will not happen again. Now we are dealing with encryption. Disputes and disputes related to regulations.” When asked if he needed to change the SEC and whether he needed a new law, he expressed his belief that the Howey Test is currently used in the field of encryption. He also said, "I don't know why we need to modify the securities laws, but I do believe that regulation in some areas can be more clear, especially the Bank Secrecy Act. These changes can also be extended to transactions between cryptocurrencies. ”