The SEC's Looming Initial Exchange Offering Sweep: Part 1
Law360 (May 30, 2019, 4:04 PM EDT) -- Another SEC crypto-crackdown is in the works with a brand new target: the so-called initial exchange offering, or IEO. But what the heck is an IEO?
Not to be confused with initial coin offerings, or ICOs, an IEO is a crypto-financing model offered and administrated via a cryptocurrency trading platform on behalf of a company (typically some form of startup) that seeks to raise funds with its newly issued cryptocurrency digital tokens. Each IEO negotiates its unique terms, deals and conditions with the various cryptocurrency trading platforms.
In an IEO, cryptocurrency platforms essentially become the counterparties in the entire token offering...
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