Heads up, everybody! We are launching a weekly news recap, so stay tuned after the interview to find out about the top stories in crypto this week! (Links below.)
Zachary Fallon, principal at Blakemore Fallon and former SEC staffer, explains why the SEC penalty against Block.One, which raised $4 billion in a yearlong ICO, got a penalty of just $24 million and didn’t have to register EOS tokens as securities. He also discusses how this differs from the Kik case, what we can learn from another SEC order this week against Nebulous and what other gray areas remain for potential token issuers who may want to sell to U.S. citizens. We also go over the Crypto Rating Council, and what significance those ratings could have on the way they are regulated, if any.
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SEC Order re. Block.One: https://www.sec.gov/
Katherine Wu’s annotated settlement: https://static1.squarespace.
SEC action on Nebulous: https://www.sec.gov/enforce/
Jake Chervinsky tweet storm on the settlement: https://twitter.com/
Marco Santori tweet storm on the settlement: https://twitter.com/
CRC ratings thus far: https://twitter.com/lawmaster/