“Enforcement by Guidance”: How the SEC Is Slowly Shaping ICO Regulation10.24

On November 27, 2018, a California judge turned back the SEC’s request for an injunction against token company BlockVest, a company the U.S. Securities and Exchange Commission (SEC) is pursuing for allegedly conducting an unregistered securities offering. The judge, however, ruled that BlockVest’s token distribution, which was conducted via airdrop, was given freely and received without expectation for returns, so it didn’t constitute an investment contract.

While the judge’s ruling is not a law-binding verdict, it was still a victory for BlockVest and the wider ICO industry, something that’s been a rarity for the SEC’s mounting list of token sale targets.

Original source

Add comment

Please Sign in to be able to leave comments.