Blockchain and the Law
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Louis Rambo

Partner
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Louis Rambo is a partner in the Corporate Department and a member of the Capital Markets Group. He concentrates his practice on regulatory matters under the federal securities laws and advises companies on general corporate and transactional issues, including public disclosure, federal and state proxy requirements, debt and equity securities transactions, business combinations and corporate and board governance. Prior to joining the Firm, Louis served as an attorney in the Division of Corporation Finance with the Securities and Exchange Commission.

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New SEC Probe of ICO Issuers and SAFT Structure

By Louis Rambo on Posted in Cryptocurrencies, Initial Coin Offerings, SEC, Securities
The Wall Street Journal recently reported that the SEC has issued dozens of subpoenas and information requests in connection with sales and pre-sales of initial coin offerings. As we have previously noted, the SEC Enforcement Division’s Cyber Unit has been targeting ICOs in recent months, and the SEC has provided a number of public statements … Continue Reading

New York State Department of Financial Services Issues Guidance to Virtual Currency Entities

By Louis Rambo on Posted in Cryptocurrencies, DeFi & Financial Services, Exchanges, Government, Regulation: State
On February 7, 2018, the New York State Department of Financial Services (“DFS”) issued guidance for all virtual currency entities licensed by New York State regarding the prevention of market manipulation, fraud, and other wrongdoing. According to DFS, New York has granted four licenses and two charters to virtual currency businesses to date. In its … Continue Reading

Further SEC action and guidance with respect to ICOs and cryptocurrencies

By Louis Rambo and Trevor Dodge on Posted in Cryptocurrencies, Enforcement Action, Initial Coin Offerings, Regulation: Federal, SEC, Securities
The SEC took two additional steps today in its regulation and oversight of the initial coin offering (“ICO”) and cryptocurrency markets. In the SEC’s latest action targeting an ICO, the SEC Enforcement Division’s new Cyber Unit intervened in an attempted ICO by Munchee, Inc., an online food review service with plans to build out its network … Continue Reading

SEC Chairman Jay Clayton’s Remarks on ICOs

By Louis Rambo and Michael Saliba on Posted in Cryptocurrencies, Enforcement Action, Initial Coin Offerings, Regulation: Federal, SEC
In his remarks at a recent Practicing Law Institute program on securities regulation, Securities and Exchange Commission Chairman Jay Clayton once again addressed Initial Coin Offerings, or ICOs.  Mr. Clayton highlighted several issues in particular, including that in his view there is a lack of information about many online platforms that list and trade virtual coins or … Continue Reading
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