Tagged: jor law

Securities Token Roundtable is Heads Down to Create Working Standard for Blockchain based Investments

  Earlier this month, CI reported about a gathering taking place in Barbados that incorporated a grouping of emerging security token firms. The goal of this meeting was to attempt and establish a standard by which securities could be offered on blockchain thus reducing sector… Read More

Securities Token Roundtable Deliberations Continue Seeking Consensus on the Future of Blockchain based Securities

  As was reported last week, the Securities Token Roundtable is continuing deliberations in Barbados over the weekend. Organized in part by the efforts of Polymath who is hosting the event, the meeting includes a good number of emerging platforms and industry participants seeking to… Read More

Securities Token Roundtable Meets to Upgrade ERC20 Smart Contracts for Blockchain based Security Token Offerings

The flight to Barbados isn’t a short one.  I left home at 5am and didn’t get into Barbados until after midnight thanks to a minor delay caused by inclement weather surrounding Miami.  I heard that it’ll take roughly 35 hours for another person who’s coming… Read More

Blockchain Disruption: Heard at Crypto Invest Summit

The Crypto Invest Summit (CIS) in Los Angeles this week, rebranded from previous “Crowd” events, was a standing room only conference this year. Organizers sold out of tickets in the last weeks as demand was high for the cryptocurrency / blockchain focused gathering. More than… 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

tZero Has Acquired VerifyInvestor for $12 Million in Cash

Buried within the tZero Offering Memorandum for its ongoing initial coin offering were several interesting items of note. The first was the fact the SEC was in the process of reviewing the offering. Another interesting bit of information was the fact tZero has acquired a… Read More

Disrupting Goldman Sachs: Polymath Wants to Create a New Investment Banking Paradigm with Initial Coin Offerings

Investment banking is a highly profitable business. Goldman Sachs, perhaps the most prominent investment bank in the world, raked in $32 billion during fiscal 2017 with the majority of this revenue driven specifically by investment banking. Yet arguably, much of the value that is provided… Read More

Polymath Network Telegram Account is First to Tap Out at 50,000 Follower Cap

Polymath Network is the first cryptocurrency related project to hit the 50,000 follower ceiling on Telegram. The highly popular company is the industry first security token launch pad. As initial coin offerings become professionalized and regulated you must have a service that can manage tokenized securities and… Read More

SEC Blockchain Panel at Berkeley: Still Plenty of Work as Regulators Figure Things Out

This past week, Blockchain at Berkeley was the host to an ICO Financing Conference. Participating at the event were representatives from the Securities and Exchange Commission (SEC). Blockchain at Berkeley is a student run, independent organization dedicated to the crypto and distributed ledger space. The… Read More

ICO Advisors: Are they Broker-Dealers or Finders?


Despite the record success of many initial coin offerings (ICOs), raising capital for ICOs is a difficult process.  It is tempting to accept help anywhere one can get it, and there is no shortage of persons and companies clamoring to “find” or refer investors in… Read More

Doing a Concurrent Reg D & Reg S Initial Coin Offering

Initial coin offerings are all the craze, and for good reason.  According to CoinSchedule, over $3 billion has been raised in the first 10 months of October.  The Securities Exchange Commission released an investigative report concluding that DAO tokens were securities, and that scared people… Read More

Don’t Panic! US Securities Exemptions for Initial Coin Offerings

So you were ready to do an initial coin offering (ICO), and then the Securities Exchange Commission released an investigative report concluding that DAO tokens were securities.  Seasoned securities attorneys have always known that token sales could implicate securities laws if the tokens were treated… Read More

Syndication is the What, Crowdfunding is the How

Syndication and crowdfunding are terms that have been used interchangeably within the last decade, and their concepts and meaning have become increasingly blurred. However, whereas syndication focuses on funding relationships and structure between the funder and funded, crowdfunding is a method of finding investors (or… Read More

Everything You Need to Know About Accredited Investor Verification

For years, most capital raises conducted by private companies have primarily relied on Regulation D as an exemption from compliance with certain burdensome securities laws.  In particular, most offerings were conducted under what was known as Rule 506 under Regulation D.  Those offerings, which have… Read More

What’s In a Regulation A Plus Offering Circular, Anyway? 

        If your company is not public and plans to raise capital, you might have considered Regulation A Plus – and you are aware that it comes with a big warning sticker: the company needs to prepare an offering circular and go… Read More

Legal: Drafting the Regulation A Offering Statement

If your company has decided to take advantage of the new avenues for reaching investors under Regulation A, the biggest task you face will be preparing an offering statement that includes mandatory disclosures about the offering and the offeror, and obtaining Securities and Exchange Commission… Read More

Part II: Due Diligence to Identify “Bad Actors” In Private Offerings under Rule 506

This the second part, of a two part series, reviewing Bad Actors in private placements.  The first article may be viewed here. The Securities and Exchange Commission (SEC) issued new Rule 506(d) in 2013, a rule that bars felons and other specified “bad actors” from… Read More

Identifying “Bad Actors” In Private Offerings under Rule 506

This article is part one, of a two part discussion, on Identifying Bad Actors for private placements. In 2010, as part of the aftermath of the Global Financial Crisis of 2008, Congress adopted the Dodd-Frank Wall Street Reform and Consumer Protection Act. While most of… Read More

Crowdfunding EB-5 Foreign Investors: A Path to US Citizenship

Billions of dollars have flowed into U.S. companies through a little known program known as “EB-5”.  EB-5 is an immigrant investor program created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors.  The program is administered… Read More

VerifyInvestor & CommunityLeader Form Partnership on Investor Verification

CommunityLeader and Verify Investor have announced a strategic partnership to provide crowdfunding and private placement platform operators with an integrated solution for verifying investor accreditation status which meets the SEC’s “reasonable steps” standards required for all companies conducting Rule 506(c) capital raises. “VerifyInvestor.com is proud… Read More