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- Framework for “Investment Contract” Analysis of Digital Assets
[1] I Introduction If you are considering an Initial Coin Offering, sometimes referred to as an "ICO," or otherwise engaging in the offer, sale, or distribution of a digital asset, [2] you need to consider whether the U S federal securities laws apply A threshold issue is whether the digital asset is a "security" under those laws [3] The term "security" includes an "investment contract
- Cyber, Crypto Assets and Emerging Technology - SEC. gov
The SEC is dedicated to protecting investors in crypto markets and from cyber-related threats The SEC's Crypto Task Force seeks to help the Commission provide clarity on the application of the federal securities laws to the crypto asset market, and seeks to recommend practical policy measures that aim to foster innovation and protect investors The SEC’s Office of Strategic Hub for
- SEC Halts Fraudulent Scheme Involving Unregistered ICO
The Securities and Exchange Commission today charged two co-founders of a purported financial services start-up with orchestrating a fraudulent initial coin offering (ICO) that raised more than $32 million from thousands of investors last year Criminal authorities separately charged and arrested both defendants
- Company Settles Unregistered ICO Charges After Self-Reporting to SEC
The Securities and Exchange Commission today charged Gladius Network LLC with conducting an unregistered initial coin offering (ICO), which the company self-reported to the SEC According to the SEC’s order, Gladius conducted an ICO in late 2017, after the Commission had warned in its DAO Report of Investigation that ICOs can be securities offerings Gladius, a Washington, DC-based company
- Statement on Cryptocurrencies and Initial Coin Offerings
The cryptocurrency and ICO markets have grown rapidly These markets are local, national and international and include an ever-broadening range of products and participants They also present investors and other market participants with many questions, some new and some old (but in a new form), including, to list just a few: Is the product legal?
- Two ICO Issuers Settle SEC Registration Charges, Agree to Register . . .
The Securities and Exchange Commission today announced settled charges against two companies that sold digital tokens in initial coin offerings (ICOs) These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations Both companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic
- SEC Charges ICO Issuer and Founder with Defrauding Investors
In this offering, which occurred between January and April 2018, Sproule told investors that the ICO proceeds would be used to develop a new technology that would enable Metavine, Inc ’s existing application-development software to run on a decentralized network of users’ own computers
- UK ICO Provides Clarity Regarding Transfers of Personal Data to the SEC
The ICO’s letter clarifies that the UK GDPR permits UK firms’ transfers of personal data to the SEC directly in connection with, among other things: (1) the SEC’s evaluation of the firms’ compliance with legal obligations in the United States, including during an examination; and (2) the SEC’s efforts to prevent and enforce against
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