SEC Finding on Digital Tokens Could Make Waves for Fintech

SEC Finding Sends Ripples Through Digital Currency World
– Politico Pro

Manatt’s Brian Korn, co-chair of the firm's financial services group and chair of the firm’s digital finance and marketplace lending practice, was quoted by Politico Pro in an article discussing a new SEC finding that could have major implications for the digital currency world.
 
The SEC announced that digital tokens sold by businesses could constitute unregistered securities offerings, which would have a long-term impact  on virtual currencies and the technology they support.
 
“They’ve sort of put the brakes on the industry and signaled to the market that there will be adult supervision,” Korn told the publication. “You have companies that can’t raise $10 million in venture financing raising $160 million in ether."