Jason Gottlieb Discusses SEC's Regulation Crypto Asset Proposal in Law360
Morrison Cohen Partner Jason Gottlieb, chair of the firm's Digital Assets Practice, was quoted in a Law360 article examining the SEC's newly proposed exemptive framework for crypto asset offerings.
The article explores Regulation Crypto Assets, the SEC's plan to allow crypto issuers to raise capital from retail investors without full registration, and the open questions around state preemption, secondary trading, and the path by which a token can transition out of securities status.
Jason highlighted one of the proposal's central ambiguities around secondary trading: whether unregistered crypto exchanges will be permitted to trade tokens covered by the exemption, or whether that activity will be reserved for registered securities exchanges. He hopes the SEC will issue additional guidance on the question, noting that in the meantime, the offerings could be listed on traditional securities exchanges or alternative trading systems capable of handling blockchain-based products.
The 60-day comment period is an important opportunity for market participants. The SEC has taken public input seriously so far, and Jason encourages interested parties to consider submitting comments while the window remains open.
Read the full article in Law360 here.
Contacts
- Jason P. Gottlieb Partner & Chair, Digital Assets; Chair, White Collar and Regulatory Enforcement
- jgottlieb@morrisoncohen.com
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Our Digital Assets Group represents some of the largest and most significant names in the sector, drawing upon our depth of experience and comprehensive understanding of cryptocurrency, DeFi, DAOs and NFTs.
Morrison Cohen handles a full range of securities matters, including complex, high-stakes securities litigations, in both federal and state trial and appellate courts, as well as before various arbitration and ADR forums, including FINRA and the AAA.
Our White Collar & Regulatory Enforcement Practice represents corporate entities and individuals in investigations brought by a wide array of governmental agencies, as well as exchanges and self-regulatory organizations.
Related Sectors
Our Digital Assets Group represents some of the largest and most significant names in the sector, drawing upon our depth of experience and comprehensive understanding of cryptocurrency, DeFi, DAOs and NFTs.
Our multidisciplinary Financial Services & Fintech team approaches every matter as dealmakers, trusted advisors and problem solvers.
