Bill Hinman Archives - Modern Consensus.

Where the magic happens: The Securities and Exchange Commission's Washington, DC headquarters (via Shutterstock).

United States

SEC’s long-awaited ICO guidance didn’t change anything, says Wall Street Blockchain Alliance’s Joshua Klayman

Crypto investors who thought the agency’s plain English guidance would suddenly free them from securities laws were unrealistic

May 20, 2019 /

The Securities and Exchange Commission’s much heralded “plain English” guidance on what makes an ICO a security wasn’t the good news many people thought it was. That is, wrapped in nicer language, the conclusion reached on May 16 by the Wall Street Blockchain Alliance, which had 11 attorneys and its chairman, Ron Quaranta, studying the document for nearly six weeks.

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Leo Jakobson
The SEC emerges victorious in its ICO lawsuit against Kik (via Shutterstock).

United States

SEC finally issues guidance on when an ICO token is a security

Having to register as a security offering puts substantial limitations on the reach of an ICO

April 3, 2019 /

The Securities and Exchange Commission on Wednesday released its long-awaited (and long-promised) “plain English” guidance designed to help determine if initial coin offerings (ICOs) must register as securities.

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Leo Jakobson