• Gaming entrepreneur and sixth grader George Weiksner, CEO of Pocketful of Quarters, got the SEC to do what only one other crypto company could—sell tokens without registering them as securities (photo via Pocketful of Quarters).
    Gaming entrepreneur and sixth grader George Weiksner, CEO of Pocketful of Quarters, got the SEC to do what only one other crypto company could—sell tokens without registering them as securities (photo via Pocketful of Quarters).
    Ethereum,  United States

    SEC allows gaming startup to sell tokens without registering them as securities

    The no-action letter issued to Pocketful of Quarters requires that the tokens cannot be sold by the general public

    July 26, 2019 /

    Gaming startup Pocketful of Quarters (PoQ) was issued a no-action letter by the SEC’s Division of Corporation Finance (DCF) on July 25 for its plan to sell Ethereum-based Quarters tokens. These tokens will be used as in-game currencies on gaming platforms, and will be transferable from one game to another, even across platforms.

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

    SEC issues first no-action letter to an ICO issuer

    While not binding, the SEC staff’s opinion sends a strong sign that the ICO will be approved

    April 3, 2019 /

    The Securities and Exchange Commission’s Division of Corporation Finance Wednesday issued its first “no-action” letter informing a would-be ICO producer that it did not consider its tokens securities and would not recommend enforcement action against it for proceeding with the sale.

    Read More