The US SEC issued the first ICO no-objection letter, recognizing that the token TKJ issued by TurnKey Jet is not a security

On April 3, the US Securities and Exchange Commission (SEC) issued the first ICO no-objection letter (no action). The SEC Ministry of Finance stated in the letter that, based on the facts provided, TKJ (TurnKey Jet, Inc) provides and sells tokens under the Securities Act and the Transaction Act without registration, based on the opinion that lawyers believe that tokens are not securities. , the department will not propose enforcement actions to the committee. The condition is that the company is required to use its upcoming token under certain conditions, including: the funds generated by the token cannot be used to develop the company's platform technology (such as its application); the token will immediately be effective; TKJ token The fixed price will be kept at $1; the token can only be used for charter services; the repurchase will only be made at the token discount; TurnKey Jet does not represent this profitable token.