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Florida The Blockchain Event (2/16/2018)

Heated Exchange Previews Blockchain Showdown Over Cryptocurrency ICO Token Regulation

A panel discussion at the 2018 Blockchain Event in Fort Lauderdale, Florida became heated as the speakers clashed over the issue of legal classification of cryptocurrency initial coin offerings (ICO) as security tokens versus utility tokens, currently seen as a regulatory loophole by some companies in the industry.

David Silver, a Florida-based lawyer who specializes in securities fraud and investment loss regarding cryptocurrency initial coin offerings, defended the U.S. Securities and Exchange Commission (SEC) position that all crypto ICO’s are legally classified as security tokens if they primarily offer the ability for an investor to buy and sell the token on a secondary exchange market as a form of capital.

Susan Akharbour, CEO of Mavatar Technologies Inc. and a regular contributor to Forbes.com, fought the position that if a company provides a meaningful service through their ICO’s crypto token, it should justify designation as a utility token, and was joined by fellow panelist, Deborah Hoffman of Symmetry Blockchain Advisors, Inc., in sharing the belief that threat of litigation and a looming government regulatory crackdown may stifle innovation in the Blockchain sector.

See the Full Discussion:

Heated Exchange Previews Blockchain Showdown

 

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