Tagged: anthony zeoli

When Does A “Digital Asset” Qualify As A Security? A Deeper Dive Into Recent SEC Guidance.

Here’s a question for all of you. Between coins, tokens, stamps, tickets, vouchers, and chips, which of these qualifies as a “security” under U.S. Securities laws? It’s actually a trick question, they all do! Well, technically speaking, they all could potentially qualify as securities. The… Read More

Long Anticipated, SEC Issues Framework & Guidance for Digital Assets

The Securities and Exchange Commission (SEC) has published a statement on the “Framework for ‘Investment Contract’ Analysis of Digital Assets” The public statement announcing the Framework was co-signed by Bill Hinman, Director of Division of Corporation Finance and Valerie Szczepanik, Senior Advisor for Digital Assets… Read More

SEC Issues First No Action Letter Regarding Tokenization of Digital Asset by TurnKey Jet that is NOT a Security

The Securities and Exchange Commission (SEC), Division of Corporate Finance, has issued its first No-Action letter pertaining to the issuance of a token that is considered not to be a regulated security. The response was engendered by a request by attorney James Curry, on behalf… Read More

Court’s Reconsideration of Blockvest ICO Related Injunction Just Confirms What Securities Attorneys Knew All Along

There has been a good amount of discussion regarding the decision by Judge Gonzalo Curiel, of the US District Court for the Southern District of California, to grant the Securities and Exchange Commission’s (SEC) bid for a preliminary injunction against crypto company Blockvest LLC. Initially, the Court… Read More

A Review Of The Proposed “Token Taxonomy Act” and Why It Falls Short…

While most people were busy with last minute Christmas shopping, on December 20th of last year, Representatives Warren Davidson and Darren Soto were busy finalizing and introducing the proposed new “Token Taxonomy Act” (HR 7356). The proposed Token Taxonomy Act seeks to modify both existing… Read More

Anthony Zeoli Named to National Law Journal’s List of Crypto, Blockchain & Fintech Trailblazers

Anthony Zeoli, a partner at Freeborn & Peters LLP and long time CI Senior Contributor, has been named to the National Law Journal’s (NLJ’s) list of Cryptocurrency, Blockchain and Fintech Trailblazers. NLJ says the attorneys on their list are individuals who truly have “moved the needle” in… Read More

JOBS Act 3.0: Breaking Down Highlights of The  “JOBS and Investor Confidence Act of 2018”

Earlier this month the House Financial Services Committee unveiled a new bill aimed at fostering increased private investment. The “JOBS and Investor Confidence Act of 2018,” as the bill is titles, is actually a compilation of 32 individual bills. While the complete list of the… Read More

Focusing on the How, Not the What: Making Sense of Recent SEC Guidance on Crypto Assets

Through a triad of recent releases/interviews, the SEC has further clarified how it views the offering and sale of crypto assets. These guidance materials provide some really good insight on the SEC’s thinking with respect to its treatment of crypto assets; including some bright line… Read More

The Sometimes Dubious Practice of ICO Advisors

The world of initial coin offering (ICO) investing is chock full of peril and risk, as well as opportunity. Purchasing a tokenized asset has become a trip to Vegas-like event as investors attempt to discern which ICO will rise and which offering will quickly plummet…. Read More

Initial Coin Offerings: Why the SAFT is DEAD …

Investment in the cryptocurrency industry is currently dominated by the use of Simple Agreements for Future Tokens (SAFTs). While SAFTs were a somewhat novel approach when they were introduced, now that cryptocurrency assets have become almost universally deemed “securities” by the SEC, the use of… Read More

Initial Coin Offering Attorneys Beware, You Could Be Next!

Following the SEC’s recent initial subpoena offerings (pun intended) targeting initial coin offering (ICO) issuers, many believe the SEC might now turn its sights toward some of the gatekeepers involved in the subject ICOs, including the attorneys. Some attorneys practicing in the ICO space have… Read More

CERES Coin Files to Raise $20 Million ICO for Blockchain based Cannabis Transaction Network

CERES Coin has filed a Form D with the Securities and Exchange Commission (SEC) indicating its intent to raise up to $20 million to launch a “Blockchain based transaction network for the legal Cannabis industry.” Ceres’ initial coin offering (ICO) seeks to provide a solution… Read More

Priming the ICO Pump: Don’t Get Sucked In

If you’ve been under a rock for the last year or so, you might not know that “initial coin offerings” or ICOs are the hottest thing in the financial market today. As if the fact that the overwhelming majority of ICOs aren’t regulated in any… Read More

State of the States: An Updated Analysis of Current Intrastate Crowdfunding Options

While Regulation (Title III) Crowdfunding continues to get all of the attention, the overwhelming majority of states currently have some form of “intrastate” retail crowdfunding laws already in effect; many of which offer significantly more favorable terms to issuers and investors than the federal rules…. Read More

Vanishing IPOs: A Discussion Of The Causes, Cures & Implications

In a recent testimony to the Investor Advisory Committee of the Securities and Exchange Commission (SEC), Scott Kupor, CEO & Managing Partner of Andreessen Horowitz, a $6.5 billion multi-stage venture capital firm, gave an amazingly comprehensive and concise description of today’s vanishing IPO market, the… Read More

Point of View: Regulating The Fintech Revolution

What was previously a relatively innocuous industry sector, the financial technology (or “Fintech”) industry has exploded over the past few years. With the litany of new Fintech startups and existing Fintech businesses, and even Fintech specific incubators and accelerators popping up, the Fintech revolution is… Read More

Chicago Rising: New Entry to List of Fintech Hubs is Important Gain for the Windy City

Deloitte’s recent report on Fintech Hubs entitled A tale of 44 cities – Connecting Global FinTech: Interim Hub Review 2017 indicated that London remained at the top of the list with Singapore closely behind it and obviously hoping to become number one. But alongside the original 20… Read More

The Invest in America Act: Supporting Entrepreneurs & Innovation While Empowering Everyday Americans

  First off, we all owe Tony a debt of gratitude for actually drafting this set of regulations. Legislative drafting is yeoman’s work especially when it comes to tax law. This new legislation solves for two extremely important problems in the U.S. economy and society…. Read More

Calling All Would-be Angels: “Invest In America Act” Bill Could Help You Find Your Wings

Start-ups and small businesses represent the heart of the American economy and fostering this sector is integral to continued innovation and job growth in the U.S.  Access to capital however, is always a critical issue for these types of businesses and angel investors often represent… Read More

Ohio is Preparing Intrastate Crowdfunding Rules

Ohio is next on the list to consider intrastate crowdfunding legislation. If the current bill passes (HB 10), Ohio will join 30+ states that have already signed legislation into law that allows for raising capital online for businesses based in their states. Today, issuers have… Read More

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