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by wpietri
3118 days ago
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It's way down, but this strikes me as the key section: --- By and large, the structures of initial coin offerings that I have seen promoted involve the offer and sale of securities and directly implicate the securities registration requirements and other investor protection provisions of our federal securities laws. Generally speaking, these laws provide that investors deserve to know what they are investing in and the relevant risks involved. I have asked the SEC’s Division of Enforcement to continue to police this area vigorously and recommend enforcement actions against those that conduct initial coin offerings in violation of the federal securities laws. --- That seems a pretty clear warning: most ICOs will be treated as securities under US law. I'd be willing to bet that the SEC will be making an example of some people relatively soon. |
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https://techcrunch.com/2017/12/12/sec-shuts-down-munchee-ico...