SEC takes aim at digital tokens and smart contracts

On the heels of the first-ever judicial holding this past summer that a cryptocurrency could qualify as a “security” under federal securities laws, the Securities and Exchange Commission (SEC) has brought a wave of new enforcement actions targeting blockchain-based digital token ventures under a variety of provisions in the securities laws. In a recent New York Law Journal column, Robert Schwinger, a partner in the New York office of Norton Rose Fulbright, discusses a wave of new enforcement actions brought by the SEC targeting blockchain-based digital token ventures, including one case where it appears that a “smart contract” blockchain application may have proved to be a bit too “smart” for its own good. Please see our previous posts, available here and here, which provide additional commentary and analysis on some of the enforcement actions discussed in the column. Readers interested in learning more about blockchain can sign up for…

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