In SEC's Remediation Model, Hard Choices For ICO Issuers

Law360 (April 24, 2019, 2:31 PM EDT) -- On April 3, 2019, the U.S. Securities and Exchange Commission issued new guidance for assessing whether an initial coin offering is a securities offering. It also issued its first no-action letter, confirming that it would not recommend an enforcement action if Turnkey Jet did not register its proposed TKJ token as a securities offering.

While these actions are meaningful, they do not alter the SEC’s previously-stated position that it is likely to view most, if not all, prior ICOs as unregistered securities offerings. As a result, existing ICO issuers still face difficult decisions on how to proceed.

The SEC has offered...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS