SEC Commissioner Hester Peirce has proposed a three year “safe harbor” for digital token projects that would let them develop networks and build communities before they’re considered securities that need to be enforced, according to a report Thursday (Feb.6) by Coindesk.
The proposed rule would let a token reach a level of decentralization to allow it to pass regulations for the SEC.
“The analysis of whether a token is offered or sold as a security is not static and does not strictly inhere to the digital asset,” according to notes detailing the proposal.
Peirce said that current laws would not help a token to reach its potential.
“The application of the federal securities laws to these transactions frustrates the network’s ability to achieve maturity and prevents the transformation of the token sold as a security to a non-security token functioning on the network,” Peirce said per published reports.
In other news, Acoer, a blockchain developer, has created a data visualization engine that will track the coronavirus in real time. The tool is called the HashLog data visualization engine, and it pulls data from the Center for Disease Control and the World Health Organization.
“HashLog allows for the real-time visualization of coronavirus data and trends. This includes the overall number of cases globally, rates of deaths and recovery per infections (where we have reliable data), cases filtered by country, as well as Google trends by interest and region on coronavirus,” Acoer’s CEO, Jim Nasr said in published reports Thursday (Feb. 6).
Finally, Catalonia, which has been fighting with Spain for independence for some time now, is also looking to be digitally independent using Blockchain, according to a report by Coindesk.
“Just as the Internet brought us universal connectivity, blockchain will bring us new universal governance. It will affect the administration [of government], will affect the economy, and it will affect one thing which is very important in our society: trust,” said Jordi Puigneró, Minister of Digital Policies and Public Administration. “Trust is what moves economic transactions and it’s what moves the relationship between the citizens and their government.”