U.S. Rep. to Host ICO Summit to Discuss ‘Light-Touch’ Crypto Regulation

A U.S. Congressman has invited 32 cryptocurrency industry organizations to Capitol Hill to discuss initial coin offering (ICO) regulation.

Axios reports that the summit, sponsored by Rep. Warren Davidson (R-OH), will take place on Sept. 25 and feature participation from a variety of businesses and non-profits, including Intercontinental Exchange (ICE), Nasdaq, CME Group, Andreessen Horowitz, Union Square Ventures, Circle, Kraken, Ripple, and Coin Center, among others.

Chief among Davidson’s questions is whether ICOs should be regulated as securities offerings, which fall under the oversight of the Securities and Exchange Commission (SEC). To date, the agency, led by Chairman Jay Clayton, has maintained that it’s conceivable that an ICO could be structured such that it is a “utility token” and not subject to SEC oversight. However, Clayton has also said that he has never personally seen an ICO that is not a security.

That said, the agency has left open the possibility…