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

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

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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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Max Dilendorf, Esq.

Max Dilendorf’s practice is focused primarily on digital assets, cryptocurrency, and technologies that drive blockchain and related distributive computing networks. An early adopter of virtual currency and its associated legal, financial, and business implications, Max is considered the go-to expert for ...

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Gleb Zaslavsky, LLM

Gleb Zaslavsky’s practice involves investment and startup structuring and support, international and domestic corporate transactions in the blockchain and technology industries, and venture capital.

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