SEC Hasn't Shown Crypto Tokens Are Securities, Judge Says
Law360 (November 27, 2018, 9:08 PM EST) -- A California federal judge on Tuesday denied the U.S. Securities and Exchange Commission's preliminary injunction bid against a cryptocurrency company accused of planning to fraudulently raise money in an initial coin offering, saying the regulator has failed to definitively show the tokens are securities.
A federal judge found Tuesday that the U.S. Securities and Exchange Commission did not demonstrate that tokens offered ahead of an initial coin offering were subject to securities laws. (Law360) In what could be a significant development for the burgeoning ICO industry, U.S. District Judge Gonzalo P. Curiel found the SEC had not demonstrated that the tokens...
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!
Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.