The Director of the SEC’s Division of Corporation Finance William Hinman gave a speech in which he discussed whether a digital asset originally offered as a security can become something other than a security over time. The speech provided some of the most important considerations to date for analysis of blockchain token transactions under US securities law.
SEC Director Makes Groundbreaking Speech about Blockchain Token Sales
By Anthony A. Bongiorno, McDermott Will & Emery, Alexandra Scheibe and David L. Taub on July 3, 2018
Tags: bitcoin, blockchain token transactions, digital asset, Director Hinman, Director of the Division of Corporation Finance, employment agreements, Ether, executive compensation, Howey, ICOs, SAFT, SEC, SEC v. W.J. Howey Co., SEC’s Divisions of Trading and Markets and Investment Management, Securities Act of 1933, Simple Agreement for Future Tokens, US Securities and Exchange Commission, US securities law, William Hinman
Anthony A. BongiornoAnthony (Tony) A. Bongiorno has extensive jury trial experience in a variety of commercial matters and serves as the partner-in-charge of the Firm’s Boston office. Tony has successfully tried cases in various federal and state courts around the country. In addition to his significant jury trial experience, Tony has also tried matters under the auspices of the American Arbitration Association, the International Centre for Dispute Resolution and the International Chamber of Commerce. Tony has represented clients in many industries, including energy, health care, biotech and construction.
McDermott Will & Emery
Alexandra ScheibeAlexandra C. Scheibe focuses her practice on representing financial institutions and financial technology companies in structuring and negotiating a broad range of derivatives, structured finance products, blockchain projects and all aspects of their blockchain token offerings as well as related regulatory and transactional matters. Alexandra is co-head of the Firm’s FinTech and Blockchain Practice Group. Read Alexandra Scheibe's full bio.
David L. TaubDavid L. Taub focuses his practice in the field of municipal derivatives, distressed municipal bankruptcy and financial technology (FinTech). David is head of the Firm’s Financial Institutions Advisory Practice and is a member of the Firm’s Management Committee. Read David Taub's full bio.
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