All Cryptocurrencies want to be utility token and never want to be regarded as security so that they can maintain esteem integrity especially in the United States.
After a pronouncement by the Security and Exchange Commission’s (SEC) Director of Corporate Finance, William Hinman, that the regulatory body recognizes only Bitcoin and Ethereum are not securities, the hope of many Cryptocurrencies were dashed, and they began to sort for means to be among the non-security coins.
According to an update released yesterday, the former SEC chairman, Arthur Levitt disclosed his willingness in joining Tron (TRX) blockchain firm.
@justinsuntron Good meeting in SF. Looking forward to working with you.
The founder of the blockchain technology, Justin Sun, got elated with request. The CEO said the collaboration will help them elevate blockchain technology, and its foundation would be much interested in contributing to the regulation in the blockchain industry.
Really, the addition of Levitt who is also a board member of BloombergLP will mean something really big for the blockchain firm.
Before now, the octogenarian served as the Chairman of the New York City Economic Development Corporation and the American Stock Exchange. Mr. Levitt also worked for 16 years on Wall Street.
At the moment, Levitt is an advisor to companies like Greg Kidd, Bitpay, Omniex Sofi and more.
With the experience and expertise he garnered from different finance-related firms especially SEC, Levitt can help guide Tron blockchain technology in its affairs so that it can be regarded by the regulatory body as not being a security.
Twitteratti and lovers of the altcoin see the news as a glad tiding, claiming that Levitt chose the right team to work with.
A Tron enthusiast said instead of moving to Malta which is dubbed a crypto friendly zone, the need for the rectification of crypto regulations especially in the USA is paramount.