SEC Ruling on Crypto Tokens

The landscape of cryptocurrency and gaming intersected recently when the United States Securities and Exchange Commission (SEC) granted approval to Pocketful of Quarters (PoQ) to issue blockchain tokens called “Quarters” without the need for registration. Their determination, announced on July 25, signifies a bold step into uncharted waters as PoQ navigates the often-turbulent seas of crypto regulations.

Meet the Young Innovator

George B. Weiksner, the co-founder and CEO of PoQ, might just be the youngest CEO to wear that title comfortably. As an eighth-grader, Weiksner is making waves—not just in his classroom but in the cryptocurrency space as well. A seasoned speaker on this otherwise complex topic, he’s already penned articles featured in Marketwatch and ICO Investor TV. Talk about setting the bar high for your peers!

Understanding the SEC’s Decision

The SEC’s ruling hinged on the specific uses for the Quarters tokens. According to Jonathan Ingram, the chief legal advisor of the SEC’s FinHub division, if the tokens are marketed primarily as tools for gamers, meant for consumptive purposes within games, they may not fall under the same obligations as traditional securities. This designation avoids the usual maze of regulations that could stifle young innovators.

• Key conditions:
  1. Quarters are for gamers only.
  2. Transactions limited to Approved Accounts.

Engagement in Popular Games

Pocketful of Quarters aims to enhance the gaming experience by offering exciting rewards for participation in thrilling competitions across popular titles like PUBG, Fortnite, and CSGO. The thrill of winning is complemented by a chance to earn tokens, adding a layer of excitement that classic gaming could only dream of.

Investing in Future Potential

For those interested in investing, PoQ isn’t just about fun and games. The company offers a stake in its future through token sales and royalties. Investors have the opportunity to earn a portion of the sales royalties in Ethereum (ETH) by using smart contracts, providing a tantalizing glimpse into the future of digital currency within the gaming realm.

Rewards Across the Gaming Universe

In a similar vein, Refereum—a company dedicated to crypto rewards in gaming—has jumped on the bandwagon by running promotional campaigns in PUBG. Gamers can earn token rewards by completing specific tasks within their favorite game until August 20, potentially netting them some extra loot while playing.