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Simple Agreements for Future Tokens (SAFTs) are investment contracts used to raise capital from accredited investors for the development of a virtual token. Because virtual tokens implicate many complex areas of state and federal law, hiring a knowledgeable attorney to create the SAFT and structure its sale is critical to the legal and practical success of such offerings.

Dilendorf & Khurdayan are New York City blockchain lawyers who help startups, developers, token-issuers, and other FinTech organizations safely and legally raise money through token generation events (i.e., initial coin offerings), including by using SAFTs and other sophisticated strategies.


Advised a client during preparation for a token pre-sale on the advantages and limitations of the SAFT framework

Advised clients on the difference between utility and security tokens under the current regulatory framework in the U.S. and possible use of SAFTs to eliminate the restrictions on resale under the SEC

Advised companies in the U.S. and abroad on ICOs in the real estate, investment, gaming, media, lending and retail industries

Providing ongoing updates to clients regarding the latest regulatory developments, including relevant releases by the Securities and Exchange Commission (SEC) in connection with regulating existing and new cryptocurrencies and ICOs

We Provide a Wide Range of Legal Expertise to Our Clients

Virtual tokens implicate a diverse array of state and federal laws and are subject to regulation by numerous state and federal agencies.

Our attorneys leverage their thorough understanding of the law when drafting SAFTs, structuring sales and advising our clients, to ensure their transactions are lawful and further their goals.

Advantages of the SAFT Framework for pre-Utility Tokens

Structuring an ICO via a pre-sale of tokens using Simple Agreement for Future Token may provide certain benefits – exemption from registration under applicable statutory exemptions, and, possibly, avoid restrictions on re-sale when the utility token is fully functional.

Such result can only be achieved with proper legal guidance, advice and careful structuring and implementation.