• 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

    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.

  • The New York State Legislature
    Cryptocurrencies,  United States

    Law raising red flags on crypto exchanges now targeted for repeal

    Yes, there’s a tie-in to Tether and Bitfinex

    One New York lawmaker wants to undo a big part of the state’s regulation of cryptocurrency exchanges. Yet that very regulation may have raised a red flag about some of the world’s largest—and most controversial—bitcoin exchanges three years ago. Assemblyman Ron Kim, a Democrat from Queens, introduced bill A9899 that he touts as replacing the state’s “BitLicense” rules that were put in place three years ago. It’s not the first time such a proposal has been bandied about the legislature. Last month, Sen. Jesse Hamilton and Sen. David Carlucci, Democrats from Brooklyn and Rockland County respectively, also discussed changing regulations. But now a bill is in committee, where it faces the…