Despite industry confusion around ICO compliance, SEC maintains federal securities laws are crypto-suited

Quick Take

  • Recent SEC enforcement cases against companies that conducted ICOs like Kik Interactive and ICOBox are examples of the crypto industry clashing with the SEC over what constitutes a security
  • The SEC utilizes a broad application of the Howey Test, which some find unsuitable for cryptocurrencies
  • The SEC maintains current federal securities laws are “technology agnostic” and therefore can be applied in cryptocurrency cases 
The initial coin offering (ICO) market is slowing down as some industry participants await more regulatory clarity, but it’s unclear whether federal legislation in the U.S. will catch up. In fact, when it comes to securities laws, the Securities and Exchange Commission (SEC) maintains current federal legislation is already applicable to cryptocurrencies. Since the ICO […]

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