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Lawyers Offering Virtual Token White Paper Review in New York City

When launching a virtual token through a token generation event (colloquially, an initial coin offering or ICO), it is customary for the developer to release a white paper describing the token and its implementation.

Investors, courts, and regulators rely on the white paper to understand a token, and so it should be reviewed by a knowledgeable lawyer before being published.

Dilendorf & Khurdayan is a New York City law firm providing white paper review services for individuals, blockchain startups, established developers, and other firms interested in creating a virtual token.

We offer rigorous reviews of white papers’ contents, helping to ensure compliance with state and federal laws and minimize legal risks.


Advised clients on the difference between utility and security tokens under the current regulatory framework in the U.S. and how such difference should be properly reflected in a whitepaper

Reviewed whitepaper and marketing materials for compliance with the U.S. securities regulations

Worked with development teams to accurately describe tokens in the whitepapers

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

Advised prospective investors regarding ICO participation, including team due diligence, whitepaper review and escrow provisions

Helping Our Clients Avoid Whitepaper Pitfalls

Because a whitepaper is marketing material intended to attract investment in a virtual token, its contents may be regulated by state and federal securities and consumer-protection laws.

Our lawyers apply their thorough understanding of those laws when reviewing a whitepaper. As part of our comprehensive review of clients’ whitepapers, we:

  • Confirm that the representations made in a whitepaper are complete and not misleading

  • Assess whether the contents of the whitepaper could lead the Securities and Exchange Commission (SEC), state securities regulators or courts to classify the token as a security subject to onerous registration requirements

  • Ensure that all necessary disclaimers are included, and unnecessary disclaimers—which could increase the risk of the token being classified as a security—are not