The SEC has issued its 1st ever letter saying it won't take action against a cryptocurrency business by DelRayMan
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The company that received the precedent-setting letter, called a “No Action Letter,” was TurnKey Jets, a startup that offers an all-inclusive private jet service including the plane, crew, and pilot. Interestingly, the company’s website has no mention of a crypto-token, which appears to play a role in the actual reservation of the services.
The No Action Letter itself includes six key points as specifically relates to TurnKey Jets. Notably, the company has promised not use any funds from token sales to develop its platform, network and applications, each of which will be fully developed and operational when the tokens are sold. Also, the tokens will be immediately usable to purchase air charter services when they are sold.
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