SEC 'Not Anxious' To Approve Reg A+ Token Offerings

Law360 (May 9, 2019, 9:37 PM EDT) -- The U.S. Securities and Exchange Commission is reluctant to approve digital token offerings sought under a registration exemption known as "Reg A+" — an avenue being pursued by many startups — for fear investors could get burned, a securities lawyer said at a panel Thursday.

Paul Hastings LLP counsel Dina Ellis Rochkind attributed regulators' reluctance to fallout from the "ICO craze," referring to the recent decline of initial coin offerings. ICOs, a fundraising venture used by blockchain technology startups to fund business projects, soared in 2017 but have since plunged as regulators began scrutinizing such deals, often finding evidence of fraud....

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