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The U.S. Securities and Exchange Commission issued a “precedent-setting" No Action Letter assuring investors of TurnKey Jets it will not take enforcement action against the firm, which uses crypto-tokens. So reports Forbes.
It also issued a separate explanation of its decision.
TurnKey offers all-inclusive jet services. The company vowed not use funds from token sales to “develop its platform, network and applications,” which will already be operational when tokens are sold.