Due to a lack of proper crypto regulations, many startups are avoiding issuing tokens in the U.S. entirely.
“The SEC argues that nearly every token should be registered under U.S. securities laws,” commented a16z crypto’s general counsel Miles Jennings.
“Public sales of equity and tokens outside the U.S. and private sales of equity and tokens can all be done in a compliant manner without being subject to the registration requirements of securities laws,”Miles Jenning, a16z crypto’s general counsel and head of decentralization. “Public sales in the U.S. are an own-goal, avoid at all costs.”
"Nowhere is the application of the Howey test easier than with respect to primary transactions ," wrote Jennings. “In many ICOs, token issuers made clear representations and promises to investors that they were going to fund their operations with the proceeds from the token sale and deliver a future return to investors." He further warned:
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Giannis Antetokounmpo Could Miss Start of Playoff Series Due to InjuryThe Milwaukee Bucks are preparing to begin their first-round playoff series without Giannis Antetokounmpo, who is dealing with a calf injury. The team is hopeful that he will be able to return later in the first round.
Read more »
Masters live updates: First round start pushed back due to weatherCan Scottie Scheffler or another local golfer from North Texas take home the green jacket at Augusta National?
Read more »
Masters underway after delayed start due to stormsThe tournament started after a two-and-a-half-hour weather delay. Conditions are expected to improve throughout the day.
Read more »
Masters Golf Tournament Start Delayed Due to WeatherThe start of the Masters golf tournament has been delayed due to weather conditions at Augusta National Golf Club. The gates will open two hours later than usual and the ceremonial first shots will be hit at 10:10 a.m. by Jack Nicklaus, Tom Watson, and Gary Player.
Read more »
2024 Chicago Pride Parade to start earlier, have fewer entries due to safety concerns2024 Chicago Pride Parade to have fewer entries due to safety concerns
Read more »
Houston Astros Scratch Framber Valdez from Start Due to Elbow SorenessAll-Star left-hander Framber Valdez has been scratched from his scheduled start due to elbow soreness. Valdez's injury adds to the growing list of star pitchers dealing with health issues this season.
Read more »