Perkins Coie LLP, and Flourish, a platform which provides innovative access to financial products that help Registered Investment Advisers (RIAs) secure their clients’ financial futures, announce the release of a white paper that highlights key regulatory and compliance considerations for RIAs looking to engage with cryptocurrencies.
Flourish engaged Perkins Coie to author a
Perkins Coie is pleased to announce that it has obtained no-action relief from the Securities and Exchange Commission Staff that clears the way for its client IMVU Inc., to sell VCOIN, a blockchain-based digital asset, as a transferable non-security to its users worldwide.
IMVU is the world’s largest avatar-based social platform with a global network
The U.S. Securities and Exchange Commission (SEC) Strategic Hub for Innovation and Financial Technology (FinHub) published a framework on April 3, 2019, for analyzing whether a digital asset is offered and sold as a security under the federal securities laws.
The framework includes “common sense guidance” that provides greater detail and clarity regarding the application
Through their recent actions and statements, the Securities and Exchange Commission (SEC) has further clarified their position with respect to digital assets and ICOs. Following on from earlier enforcement efforts throughout 2017 and 2018, the SEC Enforcement Division settled cases with AirFox and Paragon, two issuers of unregistered securities in tokenized form, in addition to
The following was posted on the Perkins Coie’s Asset Management ADVocate, to read the full post, please click here.
2018 Recap: Tokens, Coins, Cryptocurrencies, and Other Digital Assets under the Federal Securities Laws
EtherDelta Founder Sanctioned for Operating an Unregistered Securities Exchange
The following was posted on the Perkins Coie’s Asset Management ADVocate, to read the full post, please click here.
2017 Recap: Tokens, Coins, Cryptocurrencies, and Other Digital Assets under the Federal Securities Laws – Facts and Circumstances
By Michael S. Didiuk on November 12, 2018
This post focuses on the Securities and Exchange
On October 18, 2018, the U.S. Securities and Exchange Commission (SEC), announced the launch of the agency’s Strategic Hub for Innovation and Financial Technology (FinHub).[1] FinHub is a resource for industry engagement between financial technology companies (fintechs), market participants, the public, and the SEC. This client update provides a high-level overview of the FinHub initiative and how the SEC envisions industry participation.
FinHub is designed to serve as a focal point for the SEC to engage with fintech companies. Led by Valerie A. Szczepanik, Senior Advisor for Digital Assets and Innovation and Associate Director in the SEC’s Division of Corporation Finance, FinHub provides a portal where the public can engage directly with SEC staff, request a meeting, and receive updates and information about upcoming initiatives. The SEC’s expectation is that FinHub will provide a clear path for entrepreneurs, developers, and their advisers to engage SEC staff, seek input, and test ideas. The FinHub portal covers various fintech topics, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning. FinHub also offers a detailed request form, accessible here, that allows submission of background information and supporting documents for a meeting request or request for other assistance.
Continue Reading SEC Launches FinHub for Engaging with Fintech and Blockchain Companies
The SEC and FINRA recently announced a series of enforcement actions against new types of actors in the digital asset space—private fund managers and broker-dealers.
Continue Reading SEC and FINRA Target Cryptocurrency Hedge Fund Manager and Broker-Dealers in New Wave of Digital Asset Enforcement Proceedings
From Uncertainty toward Regulatory Clarity: Senior SEC Officials Provide Regulatory Clarity for Digital Assets
Summary is below, please click here for the full alert narrative.
On June 14, 2018, the Director of the Division of Corporation Finance of the Securities and Exchange Commission delivered a speech outlining the framework used by the SEC Staff in