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- Adam is early....and correct. There's a lot besides for securities regulatory law (state law!) that needs to upgrade to make all of this work...If we want tokens to be a legitimate asset class, we need state property law reform. The SEC cannot fix this. It would actually complicate the SEC’s job because tokens with rights—like value accrual—raise additional questions. This is a challenge we need to embrace.
- Join me and @ThaniaCh on Friday for a discussion of the proposed Regulation Crypto Assets- sign up at shorturl.at/jFoKiJoin @propelforward and me on Friday for a break down of the SEC's proposed reg on crypto assets. Sign up here and please send us your questions! shorturl.at/jFoKi My initial thoughts on the safe harbor proposed rule below.
- Did the SEC just propose federal private contract law? State law determines when contract rights are assigned but here the SEC states that the legal aspects of investment contracts are assigned to purchasers in sales of crypto assets, in the absence of an assignment. Hmmmm.
- And there it is. The SEC proposes Reg Crypto Assets.
