605 Days Later: How ArCoins Got the SEC Go-Ahead as an Ethereum-Traded Treasuries Fund

Convincing the U.S. Securities and Exchange Commission (SEC) that the Ethereum blockchain is an acceptable medium to store regulated investment funds was no easy task for Mason Borda of Tokensoft. The CEO of this Bay Area tokenization firm spent over two years crusading for a peer-to-peer tradeable fund. Borda developed compliance-appeasing token standards, hired regulatory […]

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SEC Chair Clayton Nominated as US Attorney for New York

U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton may be the next U.S. Attorney for the Southern District of New York. According to a Department of Justice press release published late Friday, Clayton has been nominated by U.S. President Donald Trump to helm the prosecutor’s office, three years after he first took on the […]

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Crypto’s Biggest ICOs Stay Silent on SEC Subpoenas

The silence is deafening. After rumors began to fly late last week that the SEC has been sending out subpoenas to initial coin offerings (ICOs), some of the biggest projects to yet utilize the funding mechanism have remained tight-lipped, refraining from public commentary. CoinDesk has so far reached out to the 14 best-known issuers that […]

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Federal Judge Orders Kik Technical Advisor to Sit for Deposition With SEC

Kik technical advisor Tanner Philp must be deposed by the Securities and Exchange Commission (SEC) related to the company’s 2017 kin token sale, elongating the discovery process in the messaging app’s battle with federal regulators. The agreement was made Wednesday before District Judge Alvin K. Hellerstein in the U.S District Court for the Southern District […]

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SEC Punts Decision on Wilshire Phoenix’s Bitcoin ETF Proposal to February

The Securities and Exchange Commission (SEC) has postponed making a decision on a bitcoin and U.S. Treasury bond exchange-traded fund (ETF) proposal filed by Wilshire Phoenix. According to a document published Friday, the SEC will continue evaluating the proposal, which was first filed earlier this summer, setting Feb. 26, 2020 as its next decision date […]

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SEC’s Court Hearing on Telegram Token Delayed Till Next Year

Telegram will have to wait to make its case to the U.S. Securities and Exchange Commission (SEC) that its “gram” token is not a security. According to the latest court filing (see below), the hearing on the case has been postponed until Feb. 18–19, 2020, pushed forward from an Oct. 24. slot. The judge hearing […]

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New Interest in DAOs Prompts Old Question: Are They Legal?

“Ethereum is only now starting to shrug off its ‘PTSDAO,’” tweeted Ameen Soleimani, the SpankChain CEO and creator of a now-$1.2 million decentralized autonomous organization (DAO) called the MolochDAO. After an infamous hack drained “The DAO” of roughly $60 million in 2016, developers have been hesitant to kickstart new projects in its likeness. That is, […]

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