SEC to exchange token proponents: No, you can't buy a vowel
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Quick Take
- SEC issues new investor advisory on IEO tokens
- No big surprises: changing a letter doesn’t change securities law obligations
- The impact on U.S. market, where IEO offerings have been slim, remains unclear.
Yesterday the U.S. Securities and Exchange Commission reminded the world once again that the label of a thing matters less than the substance of the thing itself. In other words: you can call a duck an elephant, but if it quacks, it is definitely a duck and subject to duck-related laws. I am referring specifically […]
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