News & Analysis as of

Securities and Exchange Commission (SEC) › Regulatory Oversight › Securities Act of 1933

Latham & Watkins LLP

SEC Staff Clarifies That Certain Dollar-Backed Stablecoins Do Not Implicate the Securities Laws

Latham & Watkins LLP on

The Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....more

Eversheds Sutherland (US) LLP

The SEC marches on - Cryptocurrency startup Block.one pays civil penalty of $24 million over unregistered initial coin offering

Eversheds Sutherland (US) LLP on

In a somewhat surprising move, the Securities and Exchange Commission (SEC) entered into a $24 million settlement with Block.one on September 30, 2019, over its unregistered initial coin offering (ICO) that raised upwards of...more

Ballard Spahr LLP

SEC Proposes "Test-The-Waters" Expansion

Ballard Spahr LLP on

On February 19, 2019, the SEC voted to propose Rule 163B under the Securities Act of 1933, as amended (the Securities Act), and amendments to Rule 405 (collectively the Proposed Rule) promulgated under the Securities Act to...more

Womble Bond Dickinson

ICOs – The Developing Regulatory Environment

Womble Bond Dickinson on

Initial Coin Offerings, or ICOs, have emerged at the intersection of cryptocurrencies and blockchain. Compared to a traditional equity offering in the United States where a company issues stock to investors in exchange for...more

Stinson - Corporate & Securities Law Blog

Fintech Company Subject to SEC Enforcement Action for Exceeding Rule 701 Option Grant Limit

Stinson - Corporate & Securities Law Blog on

Subject to its limits, Rule 701 permits non-reporting companies to grant employees equity without registration under the Securities Act of 1933. ...more

Proskauer - Blockchain and the Law

New SEC Probe of ICO Issuers and SAFT Structure

Proskauer - Blockchain and the Law on

The Wall Street Journal recently reported that the SEC has issued dozens of subpoenas and information requests in connection with sales and pre-sales of initial coin offerings. As we have previously noted, the SEC Enforcement...more

Orrick, Herrington & Sutcliffe LLP

Regulation D Battlefield Heating Up as Acting Chairman Piwowar Suggests Doing Away with Concept of Accredited Investors

Orrick, Herrington & Sutcliffe LLP on

On the same day that President Trump signed an Executive Order instructing federal agencies to create task forces designed to identify regulations for potential elimination, Michael Piwowar, Acting-Chairman of the Securities...more

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