Sentences with phrase «tokens under the federal securities laws»
The Munchee Order provided food for thought for token sellers and gatekeepers who have been hungry for guidance on the status of digital tokens under the federal securities laws.
https://www.crowdfundinsider.com/ Not exact matches
[6] In the 21 (a) Report, the Commission applied longstanding securities law principles to demonstrate that a particular token constituted an investment contract and therefore was a security under our federal securities laws.
In applying the Howey Test to The DAO, the SEC report concluded that digital coins or tokens issued by an individual or entity for the purpose of raising funds for projects may be considered securities under federal law, regardless of whether done so using a traditional company or decentralized autonomous organization.
After reviewing the Report, the Order and the Statement, RepuX believes that RepuX Tokens and the manner in which they are being offered are substantially different from the DAO Tokens and Munchee Tokens and their offering processes, and so RepuX Tokens should not be considered «securities» under U.S. federal securities laws.
If RepuX Tokens were deemed to be securities under U.S. federal securities laws, we may be required to terminate the Token Sale in the U.S. and refund funds received from U.S. purchasers of RepuX Tokens.
Securities and Exchange Commission (SEC) feels it is imperative to bring the issuance and sale of digital tokens under the country's federal securSecurities and Exchange Commission (SEC) feels it is imperative to bring the issuance and sale of digital tokens under the country's federal securitiessecurities law.
The SEC teamed up with CFTC to issue a joint statement on Friday, saying: «When market participants engage in fraud under the guise of offering digital instruments — whether characterized as virtual currencies, coins, tokens, or the like — the SEC and the CFTC will look beyond form, examine the substance of the activity and prosecute violations of the federal securities and commodities laws.»
«When market participants engage in fraud under the guise of offering digital instruments — whether characterized as virtual currencies, coins, tokens, or the like — the SEC and the CFTC will look beyond form, examine the substance of the activity and prosecute violations of the federal securities and commodities laws,» it said.
The SEC ruled tokens offered and sold by The DAO are classified as securities, and therefore fall under federal securities laws.