Potentially unlawful U.S. online platforms

On March 7, 2018, the U.S. Securities and Exchange Commission (SEC) issued a statement on potentially unlawful platforms trading digital assets (the Trading Platform Statement). 1 Following up on an issue which was highlighted in its July 2017 report on the offering of digital tokens by “The DAO” (the DAO Report), a critical question is whether exchanges that allow token holders to trade tokens need to register as a national securities exchange or operate pursuant to an exemption from registration.

Read our debrief on this latest U.S. Securities and Exchange Commission's (SEC) statement

Key areas include:
  • Crypto-exchanges
  • Focus on Exchange Registration and Regulation ATS
  • A overview of key points arising from the Trading Platform Statement