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May 21, 2019   |   By: Max Dilendorf, Rika Khurdayan and Gleb Zaslavsky

Response to the Securities and Exchange Commission Staff’s April 2019 Digital Asset Guidance

On April 3, 2019, the U.S. Securities and Exchange Commission staff released a “Statement on Framework for ‘Investment Contract’ Analysis of Digital Assets” and the first no-action letter for a blockchain-based token (“SEC Guidance”).

Rika Khurdayan and Max Dilendorf contributed to the Wall Street Blockchain Alliance – Legal Working Group’s Response to the SEC Guidance, which was published on May 16, 2019.

The report discusses many questions left open by the SEC Guidance, including the differences between digital “investment contracts” and digital “equity securities”, treatment of airdrops, the transition from security to non-security, the process of engaging the SEC’s FinHub and other questions. Check the full report HERE. -hyperlink the word here to take them to report

 

 

This article is provided for your convenience and does not constitute legal advice. The information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Prior results do not guarantee a similar outcome.

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