Securities, Cryptoassets, Token Sales

Meme Coins: Collectibles, Not Securities.

King & Spalding on 3/6/2025

On February 27, 2025, the Securities and Exchange Commission’s Division of Corporation Finance (“CorpFin”) issued a Staff Statement announcing its view that meme coin transactions do not involve the offer and sale of...more

Crypto as a Security – Applying the Howey Test

Barnea Jaffa Lande & Co. on 8/7/2023

A US court recently handed down a landmark ruling addressing the question of whether the crypto token XRP falls under the definition of “security”. The US court ruled that the same crypto token may be classified differently...more

The SEC’s Limited Guidance on Crypto Tokens in No-Action Letters

Herbert Smith Freehills Kramer on 11/15/2022

The Securities and Exchange Commission (SEC or Commission) has been accused of “regulation by enforcement” when it comes to the standard for determining whether a crypto token is a security. Part of this stems from the fact...more

Drawing the Line in Crypto Cases

Dorsey & Whitney LLP on 10/13/2022

One of the key complaints about the SEC by crypto enthusiasts is that the line between which crypto coins are securities and which are not is unclear. Many, for example, look at a coin and are puzzled – when is it a...more

INSIGHT: Crypto - The Pursuit of Sufficient Decentralization

Latham & Watkins LLP on 1/28/2020

Recent SEC guidance on digital assets cleared a path for at least certain stable coins or payment tokens to avoid securities regulation. However, Latham & Watkins attorneys say there are still a number of open questions that...more

CFTC and SEC continue their efforts to regulate virtual currencies and Blockchain-based smart contracts

Eversheds Sutherland (US) LLP on 12/6/2018

For those longing for the heady days of the cryptocurrency free-for-all, this November is proving to be the start of the winter of your discontent. The US Commodity Futures Trading Commission (CFTC) and the US Securities and...more