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The SEC Releases New “Framework” to Analyze Digital Assets under Securities Laws

On April 3, 2019, the Securities and Exchange Commission (“SEC”) released the “Framework for ‘Investment Contract’ Analysis of Digital Assets” (the “Framework”). The Framework—published by the SEC’s Strategic Hub for Innovation and Financial Technology (“FinHub”) —is the most comprehensive guidance the SEC has provided to date with respect to a…

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Basis Stablecoin Shuts Down Due To What it Deems A “Serious Negative Impact” of U.S. Securities Regulations

Basis, one of the most well-funded crypto-startups, had plans to create an algorithmic central bank that aimed to create a price-stable cryptocurrency within a decentralized monetary system. In its April 2018 fundraising efforts, Basis had secured $133 million in funding from large institutional investors.  However, citing regulatory constraints, Basis announced…

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