Do not panic, calm: Cooley ICO activity is not affected by the SEC report


nnnIn the last night, an important meeting focused on the initial digital currency issue (ICO) and tokens on sale will be held as scheduled. The SEC made a landmark report on the legitimacy of the new financing style, as the meeting was about half an hour before the start of the meeting. The organizer of the event, Cooley, an industry-leading law firm, immediately adjusted its original arrangement and shared an optimistic view of the block chain and tokens technology. Although the SEC’s report on the ICO suddenly, but did not affect the presence of the mood, on the contrary, this enhances the confidence of investors in these markets.n
nnTranslation: Clovern
nIf someone suddenly panicked at the important meeting of the initial digital currency issue (ICO) and tokens last night, they would not let the mood be revealed.n
nAs soon as the meeting was about half an hour before the start of the plan, the SEC happened to release a landmark report on the legitimacy of the new financing modality. The co-organizer of the event, Cooley, an industry-leading law firm, immediately adjusted its original arrangement to highlight its optimism about the block chain and tokens technology.n
nThe whole group discussion and Q u0026 A sessions are filled with an upbeat mood.n
nCooley’s partner Andy Roth asked the audience when asked about the impact the SEC might have on the market:n
nn”I would say that the impact of this report is very positive, which is a symbol of the maturity and legitimacy of the field, so I think it is very positive, and we provide a more specific direction to help customers with The right way to organize the preparation.n
nnFor the same question, Cooley Special Counsel Patrick Murck added that he believes the new guidance will provide market transparency and legitimacy for use cases that have long been considered marginalized.n
nHe said to the audience: “If you want to reverse the clock, back to the DAO existence of those days, that is, everyone is arbitrary, nobody cares when I think this report will have a negative impact on this type of market But for a sound market – and the market will have the future, I think it ‘s definitely positive.n
nPrior to joining Cooley, Murck served as executive director of the Bitcoin Foundation, the earliest Bitcoin nonprofit organization.n
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nInvestor confidencen
nMeet the audience will have encrypted money investors, lawyers and developers, their attitude generally reflects the optimism of the expert group.n
nJames Robinson IV, a box-chain start-up company chain, Raytheon, 21 Inc and BitPay, attended the meeting and liked a similar optimism and called it “absolutely positive.”n
nHe told CoinDesk that “it is important to have a clear goal, and if you are not sure, anything that gives guidance is defined in terms of definition.n
nHowever, given the size of the addressable market, he expects the extent of any impact to be fundamentally limited.n
nRobinson carefully summed up:n
nn”On the other hand, we live in the 21st century, and the digital boundaries are different from physical boundaries, and it is difficult for EC to monitor Swiss server settings.”n
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nRegulatory responsen
nIn the familiarity of the supervisors, participants generally agreed with formal government guidance, which marked an important and positive milestone in the development of technology.n
nFor example, former Cravath, Swaine u0026 Moore lawyer Jeff Bandman, who was the chairman of the Commodity Futures Trading Commission, considered it a noteworthy milestone.n
nn”This is the digital version of Marbury v. Madison, and in a sense the SEC insists that ICO is a security, and that’s an important phrase.”n
nnBandman is now the head of Bandman Advisors and has added a glimpse of the market meaning of the report:n
nn”I think it is positive, which means that the workplace is going to mature, and the capital formation here is really eye-catching, and when the law is certain and sure, investors will have greater confidence.”n
nn”This is not a one – size – fits-all solution,” says Bandman, adding that the gap between the tokens and the encrypted money is gradually ambiguously present. “Facts and circumstances are just as important.”n
nThe facts and circumstances referred to by Bandman are likely to include differences in the way in which tokens are treated as securities and as a “useful currency”. And when the currency as a practical currency is a kind of exchange of network goods or services, consumer goods credit.n

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