A pair of recent rulings from the Southern District of New York (SDNY) have potentially increased confusion around the regulatory status of crypto asset regulation—but may also provide some interesting signs of what’s to...more
The Rule Proposal Would Significantly Broaden the Scope of Systems Required to Register as an Exchange or an ATS The U.S. Securities and Exchange Commission (SEC) has issued a rule proposal (the Proposal) that would...more
On the Friday before Thanksgiving, the Securities and Exchange Commission ("SEC") and its staff ("Staff") took a coordinated set of actions that should help further clarify its views on the application of the federal...more
Over the last few months, there has been fairly wide-spread recognition that most offerings in the United States of tokens and of Simple Agreements for Future Tokens (SAFTs) are securities offerings.1 As a result, most U.S....more
Initial coin offerings (ICOs), token pre-sales, and similar sales of blockchain-based coins and tokens are quickly becoming an important fundraising option, and an important method of attempting to seed a token-based platform...more
Wilson Sonsini Goodrich & Rosati is pleased to present the October 2017 issue of the WSGR Fintech Update. This latest edition features an article discussing the U.S. Securities and Exchange Commission's new "Cyber Unit"...more