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Recent SEC Report on Blockchain ICOs Helps to Provide Some Clarity but Questions Remain

We look at how regulators are beginning to send a signal to the blockchain market and what questions still remain for this new capital raising method.

August 2, 2017 By Todd Anderson 2 Comments

Views: 10

Last week the Securities and Exchange Commission (“SEC”) released a report on the Initial Coin Offering (“ICO”) of the Decentralized Autonomous Organization (the “DAO”), which raised almost $150mn from investors using this new capital raising method (before returning the money). The report explained that the SEC views this ICO as a sale of securities and that the DAO was in violation of securities laws, though no enforcement action was taken.

There has been an industry wide debate on whether or not Initial Coin Offerings constitute the sale of securities. An ICO is a means by which a company in the blockchain space can raise capital from investors using cryptocurrencies and investors receive compensation in return, whether that is a reward, membership, delivery of a product or service, or financial compensation tied to the underlying profits generated by the business.

[Read more…]

Filed Under: Peer to Peer Lending Tagged With: Blockchain, crowdfunding, DAO, ethereum, Initial Coin Offering, investing, MAS, PBoC, sec

Views: 10

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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