Cryptocurrency and Initial Coin Offerings – The Wave of the Future or Death by Regulation?

Cowerks at the Lakehouse

First came Bitcoin as the original cryptocurrency, followed by many others now in use, including Ethereum. Extremely large amounts of capital are being invested in a new capital raising mechanism – initial coin offerings.

Essentially, companies are creating and selling their own cryptocurrency (in the form of virtual coins or tokens) that may be used by holders of the created currency in the future to purchase the issuing company’s products or services.

The cryptocurrency, sold to investors or holders, for fiat currency, such as US dollars, or other virtual forms of currency (unregulated and without legal tender status in any jurisdiction) may trade and increase or decrease in value.

Many believe that cryptocurrencies are the inevitable result of technological innovation and increased reliance on a digital economy freed from hard currency and related monetary instruments, while others, concerned about nations’ abilities to control and regulate their money supply, and the concomitant impact on the viability of monetary policy, seek to closely regulate cryptocurrencies.

Our talk will focus on the emerging regulatory concerns and challenges.

Speaker Bio/Info:

David Sorin; Partner, McCarter & English

Dave Sorin is an office managing partner of McCarter & English and the head of the Venture Capital & Emerging Growth Companies practice. He focuses primarily on privately- and publicly-owned startup, early stage, emerging growth, and middle market technology, tech-enabled and life science enterprises, as well as the investors, executives, and boards of directors who support and lead them. Dave has a long track record of successful representation of growth companies, having been repeatedly recognized by well-known periodicals for a unique combination of legal acumen and sound business judgment. He also brings to bear his broad range of knowledge and experience in counseling enterprises and investors in diverse emerging growth markets, technology industries (including software, information technology, e-commerce, cybersecurity and communications), and life sciences. Many of the companies he represents are well-known names throughout the Mid-Atlantic region.

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