SEC Continues Its Focus on Cryptocurrencies and Initial Coin Offerings amid Regulatory Concerns
On December 11, 2017, the SEC released a cease-and-desist order against digital tokens sold by Munchee Inc. (“Munchee”) along with a press release and a statement by SEC Chairman Jay Clayton on Cryptocurrencies and Initial Coin Offerings[1] (“ICO”), evidencing its continued focus on this emerging… Read More
SEC Committee on Small and Emerging Companies Publishes Final Report and Addresses SOX 404(b) and Securities Act Rule 701
In 2011, the SEC formed the Advisory Committee on Small and Emerging Companies (the “Committee”) to focus on interests and priorities of small business and smaller public companies. On September 13, 2017, the Committee met for the last time before the Committee’s charter expired on… Read More
Securities and Exchange Commission Addresses Virtual Currencies and Blockchain Technology
On July 25, 2017, the SEC issued a Report of Investigation under Section 21(a) of the Securities Exchange Act of 1934 (Exchange Act) describing an investigation of “The DAO,” a virtual organization, and its use of distributed ledger or blockchain technology to facilitate the offer… Read More
SEC Crowdfunding Investor Bulletin
Ernest Holtzheimer contributed to this blog post. Holtzheimer is a 3L at Drexel University Thomas R. Kline School of Law, concentrating in business and entrepreneurial law. On February 16, 2016, the SEC’s Office of Investor Education and Advocacy issued an investor bulletin relating to securities-based crowdfunding,… Read More