Teresa Goody Guillén, Jonathan Forman, Robert Musiala Article Examines Token Issuer Case

Articles / June 8, 2020

Partners Teresa Goody Guillén and Jonathan Forman and Counsel Robert Musiala authored an article published June 5, 2020, by Law360. The article, “SEC’s Token Issuer Case May Help Define Crypto Market,” examines the arguments in SEC v. Kik, in which the Securities & Exchange Commission (SEC) has challenged Kik's actions in raising funds through simple agreements for future tokens, or SAFTs, and Kik's 2017 public sale, valued at approximately $100 million, of Ethereum-based ERC20 tokens, known as Kin.

The authors summarize the arguments and write that the court's decision is expected to provide greater clarity on the legal boundaries that developers of blockchain-based networks should consider when designing products and solutions that involve or rely on Ethereum ERC20 tokens or similar cryptographic assets.

Read the article (registration required).