On June 4, the U.S. Securities and Exchange Commission (the “Commission”) announced that Valerie A. Szczepaknik was named Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation for Division Director Bill Hinman. Valerie A. Szczepaknik is referred to…
On October 31, 2017, Munchee Inc. (Munchee) launched an Initial Coin Offering (ICO) to raise $15 million to improve its blockchain-based iPhone app, an app to post pictures of and review restaurant meals. The next day, the U.S. Securities and Exchange Commission (SEC) contacted Munchee –…
ICOs are on the rise and the SEC’s Cyber Unit is proactively fulfilling its promise to protect investors against cyber-related misconduct involving distributed ledger technology and ICOs. Earlier this month, the SEC filed fraud charges against Dominic Lacroix, age 35, Sabrina Paradis-Royer, age 26 (Lacroix’s…
