The SEC Concludes That Digital Tokens May Be Securities

From: New York Law Journal

Margaret A. Dale and Mark D. Harris

In their Corporate and Securities Litigation column, Margaret A. Dale and Mark D. Harris write: The flurry of recent Initial Coin Offerings have raised questions as to whether, and in what circumstances, virtual currencies and digital tokens may be considered securities whose offer and sale are subject to federal registration requirements. A recent report by the SEC cautioning investors that digital assets may be securities is a turning point for the token marketplace and other blockchain-based mechanisms of alternative fundraising.

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