The Securities and Exchange Commission issued a report yesterday that said that tokens offered and sold by a "virtual" organization known as "The DAO" which mean Decentralized Autonomous Organizatin were securities and subject to the federal securities laws. It saidthat offers and sales of "initial coin offerings" or "token sales" by "virtual" organizations using distributed ledger or blockchain technology are subject to the securities laws. The SEC did not bring charges, or make findings of violations in this case, but is using the results of the investigation to put the industry on notice.
The Commerce Department reports sales of new homes ran at a seasonally adjusted annual rate of 610,000. That was 0.8% above May’s 605,000 rate, after a slight downward revision. June was 9.1% higher than a year ago. But It missed the MarketWatch consensus forecast for a 615,000 annual pace. The median sales price was $310,800, down 3.3%, compared with a year ago. There’s is 5 months of inventory at this sales pace up from 4.6 months in May.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
