January 04, 2018 Top Story

SEC Issues Warning on Token and Digital Currency Use

Sales of tokens will be subject to heightened scrutiny

By C. Thea Pitzen

The Securities and Exchange Commission (SEC) recently undertook an investigation to determine whether, among other things, an unincorporated "virtual" organization trading in token or digital currency violated federal securities laws. Based on the investigation, the SEC has offered important guidance on token and digital currency activities, ABA Section of Litigation leaders explain.

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