Recently, Jeffrey Alberts, Co-Chair of Pryor Cashman's FinTech Group, spoke with Corporate Counsel about the regulatory issues surrounding initial coin offerings - or ICOs - and what is in store for cryptocurrency-based fundraising.
According to Alberts, companies can expect to receive more guidance in 2018 as additional enforcement actions are brought by both the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. "Each case will shed new light," he said. The courts have yet to weigh in on the issue of whether a particular "token" is a security, so the lack of clear judicial guidance underscores the importance of obtaining legal advice before moving forward with an ICO.
To read the full Corporate Counsel piece, please click here.
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