Current Developments in the Federal Regulation of Cryptocurrencies and Tokens

Can a cryptocurrency, over time, become something other than a security? That was a question raised in a recent speech by Bill Hinman, director of the Securities and Exchange Commission’s (SEC) Division of Corporation Finance. Talking about the regulation of cryptocurrencies and tokens, Hinman asked whether “a digital asset that was originally offered in a securities offering [can] later [be] sold in a manner that does not constitute an offering of a security?” The answer goes toward determining whether, and to what extent, securities laws and regulations apply to transactions involving cryptocurrencies and tokens.

Read or download, Current Developments in the Federal Regulation of Cryptocurrencies and Tokens.