The SEC Division of Corporate Finance recently issued a no-action letter to Pocketful of Quarters, confirming that the Division will not recommend any enforcement action if the company sells its blockchain-based tokens...more
8/12/2019
/ Blockchain ,
Division of Corporate Finance ,
Enforcement Actions ,
FinTech ,
Howey ,
No-Action Letters ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Tokens ,
Token Sales
A recent complaint concerning KIK Interactive Inc. filed in the US District Court of the Southern District of New York reveals some SEC priorities for cryptocurrency enforcement actions. The complaint indicates that the SEC...more
6/13/2019
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
In its long-awaited guidance, the Staff of the Securities and Exchange Commission recently provided a lengthy list of factors to consider when determining whether an initial coin offering (ICO) is a security. While the...more
4/10/2019
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Howey ,
Initial Coin Offering (ICOs) ,
Intellectual Property Protection ,
Internet Retailers ,
Investment Contract ,
Investors ,
New Guidance ,
Popular ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
Since the inception of Bitcoin in 2009, certain digital tokens (often referred to as cryptocurrencies) have been popularized as secure, decentralized and private alternatives to government-controlled currencies. More...more
Proceeds from ICOs topped $5 billion in 2017, $1 billion of which originated in the United States. Since blockchain technology has a variety of applications and blockchain tokens may have a variety of characteristics, it is...more
The Director of the SEC’s Division of Corporation Finance William Hinman gave a speech in which he discussed whether a digital asset originally offered as a security can become something other than a security over time. The...more
Trading venues for blockchain tokens and other digital assets, such as exchanges and alternative trading systems and other liquidity providers are becoming subject to increased regulatory scrutiny from both federal and state...more
As 2017 fades in the rear view mirror of the speeding car that is blockchain, five significant regulatory issues will likely be speedbumps for blockchain tokens in 2018. Pundits spend much time talking about blockchain tokens...more
The SEC has recently taken significant public steps in the regulation of token sales (popularly known as initial coin offerings, or ICOs) relating to blockchain. While the SEC Guidance provides clarity for critical points and...more
On October 17, 2017, the Commodity Futures Trading Commission’s LabCFTC released “A CFTC Primer on Virtual Currencies.” The Primer provides an overview or virtual currencies and their potential uses, discusses the role of...more