For Crypto Global News I'm Edward. On June 13th of 2018 the Securities and Exchange Commission also known as the S.E.C. held a public forum called investing in America. Atlanta town hall meeting this particular town hall was highly anticipated by many folks in the crypto community as the regulators from the FCC plan to speak about cryptocurrency regulations and innovation. 
The town hall meeting was open to the general public and it was even streamed on the FCC web site. The general tone from members of the FCC was that they do welcome innovations from block chain technology but they're still prudent towards fraud and other illicit activities. Carl Stein commissioner of the FCC had this to say cryptocurrency has the potential to reduce cost of investing. 
It could decrease the cost of capital allocation. We're being challenged we're being disrupted like everybody else's. And one of the things we're thinking about is how embrace the innovation make sure it's used effectively. One thing we're thinking through is how to ideally anticipate and prevent problems before they arise. Commissioner Stein was not the only member of the FCC that had something significant to contribute.
 Jay Clayton chairman of the FCC also chimed in during the day's discussion blocking technology has incredible promise for securities and other industries. I think we can all agree on that. It greatly reduces transaction costs including the cost of verification. It's a powerful technology that technology people have used to apply to fund raising. We've had pretty clear rules on how to conduct fund raising when you're offering securities. 
Much of what I've seen in the ICAO or token or ICAO space is security offering. I don't know how much more clear I can be about it. For two heavy hitters the FCC to speak so candidly like this is quite exciting for the greater world of cryptocurrency. It may be sooner than later that crypto currencies will be treated like any other security in the marketplace. But I suppose only time will tell. For crypto Global News I'm Edward. Until next time you take care.
