A Judge has granted the SEC an injunction against the public distribution of Grams, tokens intended to be used on Telegram’s long-promised blockchain network. As we wrote in Coin Center’s...
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SEC Commissioner proposes safe harbor for projects that raise funds to build decentralized networks
In a speech in Chicago today, SEC Commissioner Hester Peirce unveiled a proposal to create a regulatory safe harbor for projects that raise funds in order to build decentralized, unowned...
A bill focused on stablecoins has been introduced in Congress
The bill, titled the “Managed Stablecoins are Securities Act of 2019” (H.R. 5197), was introduced last week. It defines the term “managed stablecoins” and makes clear that products meeting the...
When Kik made public its Wells notice response in January, many folks asked us what we thought and whether we would be commenting on the matter. What we told anyone...
Coin Center analysis of SEC cryptocurrency guidance
The Securities and Exchange Commission today released much-anticipated staff guidance “analyzing whether a digital asset is offered and sold as an investment contract, and, therefore, is a security.” What’s new...
We’re often asked whether that policy, articulated mid-last year by Director of the Division of Corporation Finance William Hinman, truly represents the policy of the Commission or whether it’s just the...
The SEC published much-needed guidance on tokens and trading.
It recently released a “Statement on Digital Asset Securities Issuance and Trading” that uses the example of recent enforcement actions and settlements to illustrate how the securities laws will be...
What can the EtherDelta settlement tell us about how decentralized exchanges are regulated?
The SEC has charged and settled with Zachary Coburn for operating an unregistered securities exchange, EtherDelta, in violation of Section 5 of the Exchange Act. This may come to a...
Can a Future Network’s Token Be “Presold” and Not Qualify as an Investment Contract?
The “Expert Views” series of publications allows legal and technical practitioners in the cryptocurrency space to share their insight and opinions on cutting edge policy questions. The views expressed here...
The SEC rejected a request to allow the BZX Exchange to list and trade shared of the Winkelvoss Bitcoin Trust, a Bitcoin based Exchange-Traded Product (ETP). In order to allow...