The Securities and Exchange Commission ("SEC") recently won a high-profile victory when a federal court held that there is a substantial likelihood that the SEC will prevail at trial in proving that "Grams"—the digital asset...more
The Securities and Exchange Commission’s (“SEC”) mission has three principal components: investor protection; maintaining fair, orderly and efficient markets; and facilitating capital formation.2 The SEC’s regulation of...more
Until September 30, 2019, Securities and Exchange Commission (“SEC”) enforcement actions in the crypto industry conveyed a consistent message: most crypto is a security, and if a token issuer does not follow the registration...more
10/18/2019
/ Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Financial Industry Regulatory Authority (FINRA) ,
Penalties ,
Registration Requirement ,
Regulation A ,
Regulation D ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation ,
Securities Violations ,
Settlement Offer ,
Token Sales
This white paper discusses considerations related to conducting a token offering under Regulation A under the Securities Act of 1933 (the “Securities Act”). The benefit of this strategy is that it can allow broad...more
10/2/2019
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Howey ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Offering Statements ,
Public Offerings ,
Regulation A ,
Reporting Requirements ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
White Papers
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