The Securities and Exchange Commission (SEC) has recently proposed a new token relief program, which has sparked a lot of discussion and speculation within the cryptocurrency community. Many are wondering if this means a blanket pass for all projects, but according to attorney Franco Jafré, this may not be the case.

Jafré, a well-respected legal expert in the crypto space, believes that the proposed token relief program should not be seen as a free pass for all projects. In fact, he argues that it is important for projects to still adhere to the existing securities laws and regulations.

The proposed token relief program aims to provide a safe harbor for certain digital assets, allowing them to be exempt from securities laws for a period of three years. This would give projects time to develop and become decentralized enough to no longer be considered securities. However, Jafré warns that this does not mean projects can simply ignore securities laws during this time.

He explains that the SEC will still be closely monitoring projects and their activities, and any violations of securities laws will not be tolerated. This means that projects must still be transparent and follow proper procedures when it comes to fundraising and token distribution.

Jafré also emphasizes the importance of proper legal counsel for projects, especially during this time of uncertainty. With the SEC cracking down on fraudulent and non-compliant projects, it is crucial for projects to have a solid understanding of securities laws and how they apply to their specific token.

In conclusion, while the proposed token relief program may provide some relief for certain projects, it is not a blanket pass for all. Projects must still adhere to securities laws and regulations, and proper legal counsel is essential for navigating this complex landscape. As the crypto industry continues to evolve, it is important for projects to stay informed and compliant in order to thrive in the long run.