SEC Grants Digital Avatar Firm IMVU Permission to Sell Crypt

by Jayant · 4 posts
1 year ago
Posted 1 year ago · Author
The U.S. Securities and Exchange Commission (SEC) has granted another crypto firm permission to sell its native cryptocurrency.

The SEC published a “no-action letter” on Thursday (dated Nov. 17) to IMVU, a digital avatar company, allowing the firm to sell its VCOIN digital tokens to users, albeit with strict restrictions on how these tokens can be sold.

The securities regulator has granted just a handful of other such letters, including to Turnkey Jets and Pocketful of Quarters, making the latest action somewhat notable despite the token’s relative obscurity. In a first, the SEC is allowing IMVU to sell tokens designed to be converted back to fiat by users. (In its previous rulings, the SEC said users could not buy, sell or trade either Quarters or Turnkey tokens.)
Posted 1 year ago
I don't know a lot about VCOIN, but I know I don't like it. Still have to use credit cards, bank cards to get VCOIN and more work to get VCOIN to imvu lol. What a pain.
Posted 1 year ago
I did not understand that well
Posted 1 year ago
To me it just looks like another way for IMVU to get in your pocket while acquiring/confirming your personal data. Don't think I'm going to be buying any of those anytime soon.

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