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Tag Archives: DAO

Don’t Get the Munchees! A Lesson from the SEC Blog,Commentary,Fintech,Investing & Trading,Mwiki,Regulation,Regulation & Enforcement

The Securities & Exchange Commission (“SEC” or the “Commission”) has made good on its promise to pursue companies that engage in what it views as unregulated offerings of securities by way of initial coin offerings or “ICOs.” Specifically, the Commission recently pursued a company called “Munchee” that created an iPhone application for people to review restaurant meals. To fund the creation of its app, Munchee began an ICO seeking to raise $15 million and, in return, issue its token known as a “MUN.”  The company issued a white paper in connection with its ICO. In that document, Munchee indicated that…

Alphabet Soup: The DAO, ETH, ICOs and the SEC Blog,Feature,Fintech,Mwiki,ReformWiki

By Jim Falvey Technology usually outpaces the law. It can take months, if not years, for legislators, regulators and courts to gain an understanding of technology and then to apply existing law to the new technology and/or create new laws for the technological developments. In the remarkable world of cryptocurrencies and distributed ledger technology (often referred to as “Blockchain”), we are seeing both occur. In May 2016, a virtual organization called The DAO, which stands for Decentralized Autonomous Organization, came onto the scene in the Ethereum world. For the uninitiated, the Ethereum Blockchain sponsors the second most significant virtual currency…