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Tag Archives: utility tokens

The Yellow Brick Road for Consumer Tokens: The Path to SEC and CFTC Compliance (an Update)

Latham & Watkins provides an in-depth look at the intersection of CFTC and SEC regulatory jurisdiction in the crypto context. By David L. Concannon, Yvette D. Valdez, and Stephen P. Wink, with Paul M. Dudek and Miles P. Jennings With the rapid growth in the development of blockchain technology, virtual currencies, and token sales (sometimes … Continue Reading

Meet Me at the Arcade: SEC Provides No-Action Relief for Ethereum-Based Gaming Token

The SEC issues second no-action letter for a digital token, but will “utility” token offerings reach the next level? By Stephen P. Wink, Cameron R. Kates, Shaun Musuka, and Deric Behar Gamers, rejoice! In only its second no-action letter to date for digital tokens, the SEC cleared the way for Pocketful of Quarters, Inc. (PoQ) … Continue Reading

Can Broker-Dealers HODL? SEC and FINRA Say Keep It Noncustodial for Now

The regulators attempt to clarify their position on the possible custody of digital assets by broker-dealers, but questions remain. By Stephen P. Wink, Cameron R. Kates, Shaun Musuka, and Deric Behar The SEC and FINRA recently released a joint staff statement (Joint Statement) addressing the custody of digital asset securities by broker-dealers. For some time, … Continue Reading

New SEC Token Guidance: This Is Howey Do It

The SEC provides additional guidance for analyzing whether a digital asset is a security. By Stephen P. Wink, Cameron R. Kates, and Shaun Musuka On April 3, 2019, the U.S. Securities and Exchange Commission’s Strategic Hub for Innovation and Financial Technology (the SEC) released a framework (the Framework) for assessing whether a blockchain-issued token or … Continue Reading

Will Developments in the UK’s Regulation of Cryptoassets Bring Them Into The Mainstream?

UK regulators are addressing regulatory uncertainty through a number of regulatory initiatives due for implementation in 2019. By Stuart Davis Background Following the FCA’s consultation paper that offers guidance on the regulatory status of cryptoassets published in January 2019, the regulator is now engaging with the industry and other stakeholders such as law firms to … Continue Reading
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