SEC Issues Investigative Report Concluding DAO Tokens, a Digital Asset, Were Securities


On July 25, 2017, the Securities and Exchange Commission (the “SEC“) released a report indicating that many offerings of “digital assets[,]” such as those using “distributed ledger or blockchain technology,” could be subject to federal securities laws. In this specific instance, the SEC chose not to bring charges or find violations but to go further into the SEC’s positions on this emerging sector. Press Release.