Tagged: doug ellenoff

Reading the Tea Leaves: Doug Ellenoff Shares Opinion on SEC Enforcement Action Against Two Post DAO Report ICO Issuers

Last week, the Securities and Exchange Commission (SEC) announced enforcement actions against two initial coin offerings (ICOs): Paragon (Paragon Coin Inc.) and AirFox (CarrierEQ Inc. dba Airfox). As the SEC recounted in their Administrative filing: Airfox: “Between August and October 2017, AirFox offered and then… Read More

Doug Ellenoff Discusses the Emerging Security Token Market, Contrasts STOs to the ICO World: In the US, a Utility Token is a Myth

Initial Coin Offerings (ICOs) hit the popular media screen during 2017 with stories of outrageous sums of money being raised online – sometimes under questionable circumstances. In total, according to EY, $4.1 billion was raised for the top ICOs during 2017. In 2018, that number… Read More

Legaltech iDisclose to Add Reg A+ Services to Existing Reg D, Reg CF Software

iDisclose, a Legaltech firm that currently provides streamlined solutions to complete both Reg D and Reg CF securities offerings, will soon add Reg A+ to its list of services. iDisclose has announced a new partnership with Ketsal Consulting, a firm comprised of former big law… Read More

AOIP: New Association Launched to Help Guide Investment Crowdfunding Industry

Youngro Lee of NextSeed 3

Association of Online Investment Platforms Seeks to Boost Trust, Educate Investors & Help Businesses in Need of Funding The investment crowdfunding industry in the United States was launched following the signing of the JOBS Act of 2012. This bi-partisan legislation enabled online platforms to promote… Read More

Prominent Group of Fintech Leaders Send Letter to SEC Chair Jay Clayton Demanding an Increase in Regulation Crowdfunding to $20 Million

In a letter forwarded to Securities and Exchange Commission (SEC) Chairman Jay Clayton, a group of Fintech leaders demanded the Commission to increase Regulation Crowdfunding (Reg CF) from the current $1.07 million max amount to $20 million – a substantial increase to current rules. The… Read More

Initial Coin Offerings: Is this How it Should’ve Been a Few Years Ago When US Securities Crowdfunding First Became Legalized?

    The very first initial coin offering (ICO) took place in June of 2013 when Mastercoin raised around $5 million in Bitcoin. That was the same year that Title II of the JOBS Act launched allowing general solicitation (SEC lingo for advertising) under Regulation… Read More

ICO Industry Adjusts as SEC & CFTC Warn Both Issuers & Advisors Including Attorneys Engaged Token Offerings

  This past week both the Securities and Exchange Commission and the Commodity Futures Trading Commission came out with strong statements warning the exuberant initial coin offering industry (ICO) that regulators will no longer tolerate the flouting of existing securities law. ICOs have increased rapidly… Read More

Michael Knox Appointed CEO of iDisclose as Co-Founder Georgia Quinn Joins CoinList

iDisclose, a Legaltech company which assists companies with legal documents including Form D and Form C, has announced that it has named Michael Knox as its new CEO. Knox takes over the leadership position from Georgia Quinn, the long time co-founder and CEO. Knox has been with… Read More

Recent Cease & Desist by Texas Regulators Targeting BitconnectX ICO May Foreshadow More Enforcement Actions

The regulatory drums are getting louder when it comes to initial coin offerings (ICOs). The first shot across the virtual bow was the Securities and Exchange Commission (SEC) Report addressing the DAO and the fact it was an unregistered security. Since last July, there have been… Read More

The SEC, the ICO and Avoiding the ICU: A Call for Leadership and Action

As a securities lawyer and a sometimes advocate for smart regulation of capital formation, I must confess: When it comes to addressing the current state of the Initial Coin Offering (ICO) marketplace, I believe that market participants face a crisis of growing proportions. No Hype… Read More

ICOs are Securities: Token Based Offerings Poised for a Rude Awakening as US Regulators May Soon Act

The US Securities and Exchange Commission (SEC) pumped their regulatory brakes on Initial Coin Offerings (ICOs) earlier this year. Pointing to the DAO debacle, the Feds said if a tokenized offering is a security it will be regulated, end of story. This  statement was a long… Read More

iDisclose Receives Strategic Investment, Michael Knox Joins Management Team

iDisclose, a New York based legal technology platform, has announced that Michael Knox, President of private equity firm, Gold Ridge Asset Management, has joined the management team. Simultaneously, iDisclose announced that Knox has made an investment in the company. Specific details of the investment were not… Read More

French Firms Form An Association To Weigh in on Cryptocurrency Investment

French firms have formed an association to foster the sustainable growth of the cryptocurrency investment sector and weigh in on its governance. Among other things, they hope to build on progressive regulations such as the French decree that allowed crowdlending securities called minibons to be… Read More

DAO: Here is the SEC Investigative Report on ICOs that Will Squelch Emerging ICO Market

The Securities and Exchange Commission (SEC) issued an investigative report on the fast-growing Initial Coin Offering (ICO) market that will squelch the ICO market, at least in the US. The report, embedded below, was specifically directed at the DAO or Decentralized Autonomous Organization that launched… Read More

Doug Ellenoff: We Have Concerns about ICOs But Want to Work With the Industry to Ensure a Successful Outcome

The Initial Coin Offering (ICO) space has been rocketing recently. It seems that every few days the next hot ICO is raising incredible sums of money from global investors. ICOs have plenty of supporters and detractors with most followers advising caution in this largely unregulated… Read More

Doug Ellenoff Shares Perspective on Anniversary of Regulation Crowdfunding Launch

Doug Ellenoff is one of the most recognizable names in the crowdfunding space. A founding partner of the Manhattan law firm of Ellenoff, Grossman and Schole, LLP, he has spent the last few years acting as a JOBS Act champion and crowdfunding advocate both publicly… Read More

The Securities & Exchange Commission and NYU Partner on Half Day Session on Investment Crowdfunding

The Division of Economic and Risk Analysis (DERA), the research arm of the Securities and Exchange Commission (SEC), has partnered with New York University’s Salomon Center on a half-day conference reviewing investment crowdfunding. The event, which is open to the public, will be held at… Read More

Fig Secures $7.84 Million in Series A Funding Round Led By Spark Capital & Greycroft

Fig Publishing announced on Thursday it secured $7.84 million during a Series A Funding Round, which was led by Spark Capital and Greycroft with participation from Resolute Ventures, NextView Ventures, and Draft Ventures. Fig, which was founded in 2015, allows accredited and non-accredited investors to… Read More

Doug Ellenoff & Richard Baumann of EGS Explain Unique Structure of Fig Reg A+ Crowdfunding Offer

Utilization of the updated securities exemption colloquially called Reg A+ continues to gain traction. A form of crowdfunding that has been described as a Mini-IPO type offering due to the scaled disclosure, reduced cost and the option to immediately trade shares, Reg A+ is an… Read More

SEC Announces Agenda for Small Business Capital Formation Forum Scheduled for this Week

The SEC has had a busy week. First, the Commission held its first Fintech Forum, as suggested by Commissioner Piwowar, indicating its growing interest in financial technology disruption. This morning, SEC Chair Mary Jo White testified before the House Financial Services Committee regarding the SEC… Read More

Send this to a friend