The U.S. SEC’s continued effort to try to walk a tightrope regarding regulation of ICO’s was on display again yesterday. Chairman Clayton has famously said that “I have yet to see an ICO that doesn’t have a sufficient number of hallmarks of a security.” Yet, during testimony yesterday, William Hinman, the director of the SEC’s Division of Corporation Finance, stated his division is “striving for a balanced approach,” and repeated the oft-voice concern that they do not want to regulate prematurely because “we very much want to see our efforts not stifle innovation.” At the other extreme, Representative Sherman of California called for a ban of ICOs, a position that should not be surprising in light of comment in March that ” “Cryptocurrencies are a crock.”
SEC Approach Remains Cautious
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David Zaslowsky
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David Zaslowsky has a degree in computer science and, before going to Yale Law School, was a computer programmer. His practice focuses on international litigation and arbitration. He has been involved in cases in trial and appellate courts across the United States and before arbitral institutions around the world. Many of David’s cases, including some patent cases, have related to technology. David has been included in Chambers for his expertise in international arbitration. He is the editor of the firm's blockchain blog.