SEC’s decision in the case of Munchee Inc. and its consequences

Avatar admin | 23.03.2018 64 Views 5 On 3 Ratings

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In 2017, the U.S. Securities and Exchange Commission issued an order for Munchee Inc. to refund the investors $ 15 million collected during the project’s ICO. Senior associate in tax planning at ANP Law Firm Ekaterina Myznikova examines this case and its significance for the whole market and points out some of the consequences that the SEC decision will have on all future ICOs that are still in their preparatory stages.
Is it allowed to include in the project’s white paper a promise that the tokens would grow in price as well as a possibility of trading tokens and their resale? What geographic factors should be taken into account when preparing the ICO? What is the significance of going through a thorough legal analysis of white paper and all of the project’s marketing materials before the start of the token sale? Ekaterina attempts to answer all of these questions and gives a number of recommendations that will help investors to join projects, where the probability of falling under SEC sanctions is minimal.
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Written by admin