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/
Articles from this week’s news recap:
Paypal to Back Out of Libra Association: https://www.ft.com/content/
Visa, Mastercard, Other Libra Association Members Jittery: https://www.wsj.com/articles/
Federal Advisory Doesn’t Like Libra: https://www.bloomberg.com/
SEC press release about the order: https://www.sec.gov/news/
The order itself: https://www.sec.gov/
Larry Cermak of The Block on the order: https://www.theblockcrypto.
Letter from House Reps re digital dollar: https://static.coindesk.com/
Cermak tweet storm: https://twitter.com/lawmaster/
Blockchain executive departures: http://thein.fo/
Tweets by Paul Chou directed at the CFTC: https://twitter.com/paul_l_
Paul Chou’s tweet storm: https://twitter.com/paul_l_
Explanation of the Fairwin Ponzi: https://medium.com/@PhABC/the-
Martin Koeppelman graph on Fairwin: https://twitter.com/
Bloomberg interview with Jered Kenna: https://www.bloomberg.com/
My Forbes story on how Kenna lost his Bitcoin: https://www.forbes.com/sites/