Heads up, everyone! We’re launching a weekly information recap, so keep tuned after the interview to seek out out concerning the high tales in crypto this week! (Hyperlinks beneath.)
Zachary Fallon, principal at Blakemore Fallon and former SEC staffer, explains why the SEC penalty towards Block.One, which raised $4 billion in a yearlong ICO, acquired a penalty of simply $24 million and didn’t should register EOS tokens as securities. He additionally discusses how this differs from the Kik case, what we will study from one other SEC order this week towards Nebulous and what different grey areas stay for potential token issuers who could wish to promote to U.S. residents. We additionally go over the Crypto Score Council, and what significance these scores might have on the best way they’re regulated, if any.
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Episode hyperlinks:
SEC press launch concerning the Block.One settlement: https://www.sec.gov/information/press-release/2019-202
SEC Order re. Block.One: https://www.sec.gov/litigation/admin/2019/33-10714.pdf
Cooley letter on Block.one: https://www.sec.gov/divisions/corpfin/cf-noaction/2019/block.one-093019-506.pdf
Katherine Wu’s annotated settlement: https://static1.squarespace.com/static/5ac136ed12b13f7c187bdf21/t/5d92c33d937a3466c0c723a9/1569899329538/33-10714.pdf
SEC motion on Nebulous: https://www.sec.gov/implement/33-10715-s
Jake Chervinsky tweet storm on the settlement: https://twitter.com/jchervinsky/standing/1179162527541993472?s=20
Marco Santori tweet storm on the settlement: https://twitter.com/msantoriESQ/standing/1178811671621591040?s=20
Crypto Score Council: https://www.wsj.com/articles/cryptocurrency-exchanges-including-coinbase-to-rate-digital-assets-11569835801
CRC scores so far: https://twitter.com/lawmaster/standing/1178627290676301824?s=20
