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Blockvest Reversal Makes Clear That ICOs Are Securities

Law360 (February 22, 2019, 2:17 PM EST) -- In an ICO Saint Valentine’s Day massacre, Judge Gonzalo Curiel of the United States District Court for the Southern District of California reconsidered and reversed his November 2018 Blockvest decision, sending a powerful message about the illegality of so-called initial coin offerings.

As an early critic of Curiel's original Blockvest opinion (before he reversed himself last week), I now feel vindicated, and have written this article to discuss the details of his extraordinary turnabout. But before we get to Curiel's unusual ICO death blow, let's start from the beginning of this intriguing legal course of events.

Some Background

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