ICO issuer avoids chopping block: the latest SEC order signals path for 2020
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Quick Take
- SEC settles with another ICO issuer, Blockchain of Things, Inc.
- Settlement allows company to continue in existence, paying a relatively small fine and allowing investors to claim a refund.
- SEC seems to be following a pattern of allowing issuers in non-fraud cases to continue in existence if a path to compliance is possible
- While securities law in crypto does not hold many surprises, expect to see in 2020 further enforcement activity in areas where there is less published caselaw and fewer public settlements, including in tax arena.
Link to Order One of my 2020 crypto law predictions is that we are going to be reading a lot more about FinCEN, OFAC and IRS investigations and less about the SEC and the CFTC. But for now, the SEC keeps settling ICO cases at a steady clip, including an order entered on December 18 […]
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