Grayscale Sees Ethereum, Solana, BNB Chain as Winners from US Token Rules
The US Securities and Exchange Commission (SEC) has proposed new regulations for token-based fundraising in the country. Grayscale Research sees three altcoins as potential winners from this move: Ethereum (ETH), Solana (SOL), and BNB Chain.
According to Grayscale, these networks will capture activity and value if founders and investors bring their raises onchain. The demand for token sales has a precedent - over 1,500 projects raised $12.9 billion through initial coin offerings (ICOs) between 2017-18.
The SEC's proposed Regulation Crypto Assets (Reg Crypto) would create two fundraising lanes: one-time options and ongoing reports. It also gives tokens an exit from securities treatment once issuers complete managerial efforts. This is seen as a clear answer to the Investment Contract Safe Harbor question that fueled the SEC's long court fight with Ripple over XRP.
SEC Commissioner Mark Uyeda supports the shift, stating that clear rules should reduce incentives for founders to launch offshore.