Despite early misconceptions, cryptocurrency and blockchain technology do not exist outside of the laws and regulations of the United States. On a near-daily basis, we are bombarded with news about civil suits, class actions, and SEC Administrative orders being initiated against cryptocurrency founders and blockchain developers. However, many of the issues now being faced by cryptocurrency companies could have been avoided by working with an attorney familiar with cryptocurrency and blockchain technology and the regulatory landscape they inhabit.
Call us today to discuss how we can help you structure an initial coin offering in a manner that allows you to obtain the capital your business needs and ensure you comply with the myriad of disclosure requirements and filing obligations imposed by the SEC and the respective state agencies.
While we believe everyone conducting an ICO should do so with the help of an experienced cryptocurrency attorney, we have come to understand that many projects may not have shared this belief. If you have conducted or are currently conducting an ICO without the guidance of an experienced cryptocurrency attorney, we would be happy to discuss the current exposure and the steps we can take to mitigate these risks.
Token sales are, quite simply, a process of generating and selling a new cryptocurrency. While the details change from sale to sale, this process involves building a smart contract on the blockchain to generate and sell the new tokens. The process usually involves lawyers, qualified investors, and a final public sale. It is a virtual roadshow, a circus, and a community-building exercise. A few things can happen to the hapless token seller. Hackers are sniffing around the space and have figured out some clever tricks legitimate. Crypto companies will not have time-sensitive deals that make you act within minutes or even hours and will not require your private keys or account login credentials.