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.
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.
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.
"This is the first time anyone has ever scaled proof-of-work," said Kadena co-founder Will Martino.
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.
Newly published public documents indicate that one of the co-founders of LinkedIn is raising as much as $20 million in a SAFT sale.
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.
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.
Messaging app provider Telegram has raised a second $850 million in its ongoing token sale, according to a new filing with the SEC.
A new "light paper" says the token could face "significant restrictions" should the U.S. Securities and Exchange Commission (SEC) deem it a security.
From tech flaws to regulatory interventions, a document sent to prospective investors in Telegram's $2.5 billion token sale spells out the risks.
Last year, lawyers and law firms finally got over themselves and worked together in the blockchain space. In 2018, such teamwork will be critical.
Circle has raised $20 million in a Simple Agreement for Future Tokens (SAFT) sale for its ethereum-based "CENTRE" payments network.
The cryptocurrency community still has plenty of questions about taxation and regulation, especially as the ICO space heats up.
The SAFT framework, despite its limitations, is a reasonable path forward for token issuers given the ambiguity of current laws, writes Jerry Brito.