The First Comprehensive Study of ICO Performance Yields Some Surprising—and Some Sobering—Results

In what may be a first of its kind analysis, a team at Boston College recently published a study that analyzed 4003 “executed and planned ICOs” for short and longer term performance. In “Digital Tulips? Returns to Investors in Initial Coin Offerings,” the study authors found “evidence of significant ICO underpricing, with average returns of … Continue reading The First Comprehensive Study of ICO Performance Yields Some Surprising—and Some Sobering—Results

Missed Our Webinar?

Last week, Michael Best Blockchain and Litigation Attorneys Evan Strassberg and Steven Joffee hosted a complementary webinar and discussed the actions regulatory bodies are taking and could be taking against cryptocurrency issuers and traders. They also provided an overview of private litigation, particularly putative class actions against companies that have conducted ICOs. Access Michael Best's … Continue reading Missed Our Webinar?

SEC Provides Guidance on the Applicability of Securities Laws to ICOs and Sales of Digital Tokens – The Beginning of a “Safe Harbor”

William Hinman, Director, Division of Corporate Finance, provided significant guidance on the applicability of U.S. Federal Securities Laws to Initial Coin Offerings (ICOs) and the sale of digital tokens.  His presentation was made on Thursday, June 14, 2018 at the Yahoo Finance All Market Summit: Crypto in San Francisco. Click here to read the full … Continue reading SEC Provides Guidance on the Applicability of Securities Laws to ICOs and Sales of Digital Tokens – The Beginning of a “Safe Harbor”

Taking the “Crypto” Out of Cryptocurrencies

How securities laws and regulations impact this booming business.  Utah Business Magazine features Michael Best Attorneys Brad Jacobsen and Evan Strassberg in the May 2018 edition. Brad and Evan write, "During 2017 it appeared you couldn't lose money investing in Bitcoin, initial coin offerings and other cryptocurrency offerings (collectively ICOs). Not since the Tulip Bubble of … Continue reading Taking the “Crypto” Out of Cryptocurrencies

Join Our Webinar!

Cryptocurrency Issuers & Traders Beware: Enforcement Actions and Private Litigation Emerging Thursday, June 14, 12:00 p.m. - 1:00 p.m. CST. Michael Best Attorneys Evan Strassberg and Steven Joffee are hosting a complimentary live webinar discussing actions regulatory bodies are currently taking, and could be taking in the future, against cryptocurrency issuers and traders.  Additionally, they … Continue reading Join Our Webinar!

Missed Our Webinar?

Yesterday, April 10, Michael Best's blockchain, tax, and securities & capital markets professionals Brad Jacobsen, Jim Kruse, Lyndon Ricks, Tim Schally, Evan Strassberg, and Betsy Voter hosted a complimentary webinar which discussed the securities laws applicable to initial coin ICOs, and covered everything from exempt private offerings to registered public offerings. Additionally, the panel reviewed actions … Continue reading Missed Our Webinar?

Join Our Webinar!

Initial Coin Offerings – Complying with U.S. Securities Laws & Tax Issues Wednesday, April 10 at 12:00 CST. Michael Best's Blockchain, Digital Currencies & Smart Contracts attorneys will be hosting a complimentary live webinar reviewing the securities laws applicable to Initial Coin Offerings (ICOs), covering everything from exempt private offerings to registered public offerings, and … Continue reading Join Our Webinar!

Better to Ask Forgiveness Than Permission? Not When It Comes to ICOs…

In some ways, the legal landscape surrounding cryptocurrencies is very much a blank canvas. For example, no court has yet issued an opinion finding that a cryptocurrency—indeed, any cryptocurrency—is a security. But the converse is also true, and no court has held that a cryptocurrency is not a security. In a vacuum, this lack of … Continue reading Better to Ask Forgiveness Than Permission? Not When It Comes to ICOs…

SEC Shoots with a Spiritual Blunderbuss – Why Your ICO Is Most Likely a Security In the Eyes of the SEC

On Monday, January 22, 2018, SEC Chairman Jay Clayton expressed the SEC’s growing concern with ICOs and other cryptocurrency offerings being issued and sold without complying with securities laws. Chairman Clayton also warned/scolded the professional advisors connected to these offerings. The full text of Chairman Clayton’s statement is available here. Compliance with securities laws can … Continue reading SEC Shoots with a Spiritual Blunderbuss – Why Your ICO Is Most Likely a Security In the Eyes of the SEC

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