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Scarinci Hollenbeck regularly publishes articles pertaining to legal updates affecting individuals and institutions in New York and New Jersey, and the world at large. Here you can find coverage for when we welcome new attorneys, significant wins we’ve secured on behalf of our clients, and general announcements.
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Court Rules Against SEC to Find ICO Not a Security
Author: Dan BrecherDate: January 4, 2019
A federal court recently ruled that digital assets sold in an initial coin offering (ICO) did not meet the definition of “security.” It is the first court decision against the Securities and Exchange Commission (SEC) on this issue, suggesting the analysis might not always be as clear-cut as the SEC maintains.
In October, the SEC filed a Complaint against Defendants Blockvest, LLC and Reginald Buddy Ringgold, III a/k/a Rasool Abdul Rahim El alleging violations of Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5(b); fraud in violation of the Securities Act of 1933 (Securities Act); and violations of Sections 5(a) and 5(c) of the Securities Act for the offer and sale of unregistered securities. Defendant Reginald Buddy Ringgold, III (Ringgold), is the chairman and founder of Defendant Blockvest, LLC (Blockvest). The SEC complaint alleges that Defendants have been offering and selling alleged unregistered securities in the form of digital assets called BLV’s via an ICO.
LuLaRoe Fashion Line Faces Sales Tax Lawsuit
We all know that charging too little sales tax can lead to an assessment of unpaid taxes and penalties, but charging...
5 Things To Know About Filing For An Extension On Your Taxes
The filing deadline may have shifted from April 15 to 18 this year, but for some, that makes no difference...
Hacks For Business Tax Law In 2017
The new year promises to bring twists and turns to the business tax law landscape. Although it's still in the...
IC-Disc...Is it Right for Your Business?
Now that President Trump has made it a priority to bring back manufacturing to the United States, now might be...
