Cryptocurrency and token offerings present a regulatory paradox. The Securities and Exchange Commission contends that in various circumstances cryptocurrency and token offerings constitute “securities” that must comply with securities laws. A potential approach: “simple agreements for future tokens” or SAFTS.
In a recent New York Law Journal column, Robert Schwinger, a partner in the New York office of Norton Rose Fulbright, discusses a recent federal court case that is the first judicial examination of using a SAFT strategy.
Regulation Tomorrow has been following the fintech area for several years and Norton Rose Fulbright has a useful database of materials for those who are interested in the area. Readers interested in learning more about the blockchain can sign up for updates on our Fintech law and regulation page.