Bridging the Week by Gary DeWaal: September 11 to 15 and September 18, 2017 (ICOs; Digital Tokens; Spoofing; Advertising Standards)

Published Date: September 18, 2017

Another non-US financial services regulator cautioned its citizens that some digital tokens issued as part of an initial coin offering may be securities subject to local securities law requirements, while the Securities and Exchange Commission in the US convinced at least one promoter of an ICO to cancel an in-progress offering and refund amounts already paid by investors in ether (the digital coin of the Ethereum blockchain network). Separately, another criminal proceeding was filed against a trader for spoofing, based on his trading activities involving precious metals futures listed on the Commodity Exchange, Inc. from July 2008 through November 2013. However, the specific criminal charge for spoofing seems to embrace alleged conduct that occurred before the relevant provision of law was effective in July 2011. As a result, the following matters are covered in this week’s edition of Bridging the Week:

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Gary DeWaal

Gary DeWaal is currently Special Counsel with Katten Muchin Rosenman LLP in its New York office focusing on financial services regulatory matters. He provides advisory services and assists with investigations and litigation.

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Gary DeWaal
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