Monthly Archives: July 2017

Is the Party Over? SEC Concludes Cryptocurrency Offering Required Registration

Is the Party Over? SEC Concludes Cryptocurrency Offering Required Registration

By Trudy-Anne McLeary, Associate, Corporate and Finance | Benjamin T. Brickner, Associate, Corporate and Finance In an investigative report and investor bulletin, the SEC concludes that offers and sales of cryptocurrency coins and tokens may be subject to federal securities laws. On July 25, 2017, the Securities and Exchange Commission (the Commission) released an investigative report with important implications for issuers and sponsors of initial coin offerings (ICOs) that raise funds for cryptocurrency ventures. The report, prompted by the recent proliferation of such activity, concluded that coins offered to purchasers in ICOs constitute securities regulated by the Securities Act of 1933 (Securities Act) and the Securities Exchange Act of 1934…

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SEC Issues Investigative Report Concluding DAO Tokens, a Digital Asset, Were Securities

Crowdfund Beat News Wire, SEC issued an investigative report stating, “tokens offered and sold by a ‘virtual’ organization known as ‘The DAO’ were securities and therefore subject to the federal securities laws.” U.S. Securities Laws May Apply to Offers, Sales, and Trading of Interests in Virtual Organizations FOR IMMEDIATE RELEASE 2017-131 Washington D.C., July 25, 2017— The Securities and Exchange Commission issued an investigative report today cautioning market participants that offers and sales of digital assets by “virtual” organizations are subject to the requirements of the federal securities laws. Such offers and sales, conducted by organizations using distributed ledger or blockchain technology, have been referred to, among other things,…

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Delaware Blockchain Initiative?

Crowdfund Beat News Wire, Delaware Blockchain Initiative: Transforming the Foundational Infrastructure of Corporate Finance or much of American corporate finance is Delaware corporate law. Later this year, a small change to Delaware corporate law, if enacted, could facilitate a major simplification of the plumbing of the financial system built on top of that foundation. The change is part of the Delaware Blockchain Initiative (DBI), which then-Governor Jack Markell introduced in May 2016. The initiative will allow for the application of distributed ledger technology to many of the private sector’s most basic and critical legal documents, which companies currently file with the Delaware Division of Corporations.…

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HEADLINE NEWS

Former Blink 182 Guitarist Crowdfunding SpaceshipThe Onion (satire)UFO enthusiast and Blink 182 co-founder Tom DeLonge is crowdfunding a “public benefit corporation” whose first project is a proposed intergalactic spaceship. What do you think? “I've thrown away money on worse mus [...]

Real Estate Crowdfunding Firm Targets Institutional InvestorsInstitutional InvestorFirst RealFund has begun offering real estate deals to institutional investors on a crowdfunding platform. The New York-based firm will provide short-term real-estate investments in high-growth neighbor [...]

AOLThis 94-year-old WWII veteran is crowdfunding a tour of refugee camps across the worldAOLBut there's still a challenge Smith wants to complete: traveling to refugee camps across the world. For this reason he's launched a crowdfunding campaign on GoFundMe to help him fund [...]

This Farming Robot is Looking for Crowdfunding to Plant its SeedsInverseThe Salk Institute may have cured polio in its heyday, but these days it needs help funding its research endeavors. The San Diego-based nonprofit science hub is seeking $313,840 through crowdfunding efforts in ord [...]

Crain's Detroit BusinessSouth Oakland Shelter acquires HandUp crowdfunding platformCrain's Detroit BusinessIn what's being called a bold move, South Oakland Shelter, a Lathrup Village nonprofit that provides services to the homeless, has acquired San Francisco-based Han [...]

AdweekThe Brewers Association Is Launching a Crowdfunding Campaign to ...AdweekThe Brewers Association has released a tongue-in-cheek video to promote its crowdfunding efforts. YouTube: Take Craft Back. Share. By Erik Oster. |. 23 hours ...and more » [...]

ForbesThe Recipes For Crowdfunding Success On Kickstarter -- And What To AvoidForbesToo little is known about the recipes for a successful crowdfunding drive for a new product. And there is even less known about online drives, despite its meteoric success over the past decade. A 2013 [...]

LeaflyCrowdfunding Site Cancels Aid to California Wildfire Victims - LeaflyLeaflyWith the most devastating wildfire in California history laying waste to its members' homes and livelihoods, the California Growers Association responded in the ...and more » [...]

The SunMum slammed for setting up crowdfunding page asking people to ...The SunA MUM has come under fire for setting up a crowdfunding page requesting cash instead of presents for her son's birthday. Paramita Sarkar says nine-year-old ...Mum starts crowdfunding page so her son ca [...]

Tom DeLonge's new UFO academy is crowdfunding a spaceshipConsequence of Sound (blog)Now, DeLonge's first major initiative with the group is a crowdfunding campaign to launch a spaceship. A message on DeLonge's Facebook account announces the project: “Hello, my name is T [...]

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