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HT: <RC Richards>
ICO vs IPO … ICO’s are So Hot – “ICOs may seem to fall into a legal gray area, but she says the vast majority of tokens count as securities, and if they are sold to investors in the U.S., they fall under the jurisdiction of the Securities and Exchange Commission … The SEC has yet to wade in, but the hotter the ICO market, the greater the potential for abuse or investor losses that could spur the agency to act. Channing suspects the regulators are waiting for the right case.”
Today I had the pleasure of participating in the Law, Justice & Development Week at the World Bank in its headquarters in Washington DC. My panel was focused on Technology, Data and Computation to Promote the Rule of Law. It was a great and meaningful conversation pointed toward substantive applications!
We offer some initial conversation of the application of Blockchain to legal services in our deck called Fin(Legal)Tech. Obvious starting points for the blockchain in law include – real estate transactions, smart contracting, asset verification and the enforcement of judgements, financial services regulatory work (such as we have discussed in our paper on resolution planning), etc. These ideas (together with other related and important technological developments) extend to large segments of transactional / regulatory legal space. The goal is to reduce needless friction – which is endemic to most processes ( and legal centered processes are particularly bad).