ICOs the New IPO? SEC Enforcement and When an ICO is a “Securities Offering”

Traditionally, a company seeking to raise capital might do so by conducting an initial public offering (IPO), and investors participating in the IPO would obtain an ownership stake in the company. However, with the introduction of cryptocurrencies and digital tokens, new ways of raising capital and entering the public market have emerged over the last … Continue reading ICOs the New IPO? SEC Enforcement and When an ICO is a “Securities Offering”

75 Years of Howey

How the sale of Florida Orange Groves 75 years ago established Securities Law compliance standards for Cryptocurrencies and other Digital Tokens today Earlier this year, 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. Director … Continue reading 75 Years of Howey

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