With Kik and Telegram Cases, the SEC Tries to Kill the SAFT

Invented by white shoe New York City law firms, the two-step Simple Agreement for Future Tokens (SAFT) was supposed to keep crypto companies out of trouble. Now, the SEC is coming full bore for startups like Kik and Telegram.

Markets  ·  28 April 2020

Telegram’s Fight Against SEC Will Help Push Cryptocurrency Legislation, Says Trade Group

Telegram’s ongoing court battle with the SEC over its $1.7 billion token offering could put pressure on Congress to move cryptocurrency regulation forward, according to the Blockchain Association.

Policy & regulation  ·  9 April 2020
Hedera Hashgraph

Hedera Hashgraph Asks Investors to Wait Longer for Tokens After Price Crash

Hedera Hashgraph, the company behind the blockchain-like Hedera network, is asking investors to wait longer for tokens they paid for, in order to stabilize their cratering price.

Markets  ·  24 December 2019

Kadena Goes Live, Announces New Token Sale Aiming for $20 Million

"This is the first time anyone has ever scaled proof-of-work," said Kadena co-founder Will Martino.

Markets  ·  4 November 2019

Charts: SEC Data Shows Token Filing Figures Just Keep Rising

Since SAFT came into to use last year, the number of companies reporting to the SEC to work in this framework has increased, CoinDesk finds.

Policy & regulation  ·  2 July 2018

LinkedIn Co-Founder Is Raising $20 Million for Token Project

Newly published public documents indicate that one of the co-founders of LinkedIn is raising as much as $20 million in a SAFT sale.

Markets  ·  4 June 2018

$125 Million: Orchid Is Raising One of 2018’s Biggest Token Sales

A startup with the aim of building a private, peer-to-peer browser using cryptocurrency has told the SEC it plans to hold a $125 million SAFT.

Policy & regulation  ·  23 April 2018

What ICO Issuers and Investors Need to Know About Taxes

There is little guidance from the IRS on how to treat a token offering or SAFT for tax purposes. Determining how to do so is a fact-intensive process.

Markets  ·  16 April 2018

Telegram Doubles Amount Raised in ICO to $1.7 Billion

Messaging app provider Telegram has raised a second $850 million in its ongoing token sale, according to a new filing with the SEC.

Business  ·  30 March 2018

KODAKCoin Backers Warn SEC Could Restrict Token Trading

A new "light paper" says the token could face "significant restrictions" should the U.S. Securities and Exchange Commission (SEC) deem it a security.

Policy & regulation  ·  8 March 2018

8 Ways Telegram Thinks Its Own ICO Could Go Wrong

From tech flaws to regulatory interventions, a document sent to prospective investors in Telegram's $2.5 billion token sale spells out the risks.

Business  ·  3 March 2018

A Legal Renaissance, Blockchain Style

Last year, lawyers and law firms finally got over themselves and worked together in the blockchain space. In 2018, such teamwork will be critical.

Policy & regulation  ·  7 January 2018

Circle’s CENTRE Raises $20 Million in SAFT Sale

Circle has raised $20 million in a Simple Agreement for Future Tokens (SAFT) sale for its ethereum-based "CENTRE" payments network.

Business  ·  8 December 2017

Regulation, Taxation Loom Over Crypto Investors

The cryptocurrency community still has plenty of questions about taxation and regulation, especially as the ICO space heats up.

Policy & regulation  ·  30 November 2017

The SAFT Is a Symptom of Regulatory Uncertainty

The SAFT framework, despite its limitations, is a reasonable path forward for token issuers given the ambiguity of current laws, writes Jerry Brito.

Policy & regulation  ·  13 November 2017