Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies

Nick Morgan: The DAO, the SEC and the ICO Boom

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Nick Morgan, a former attorney at the SEC, joined us to discuss their recent report on the DAO and what it means for the ICO boom.

Topics covered in this episode:

  • The history and mandate of the SEC
  • Nick’s years as a trial attorney at the SEC
  • How the Howey Test is used to determine if something is a security
  • The application of the Howey Test to the DAO case
  • The weaknesses in their argument that token holders relied on the effort of others
  • Why the SEC did not prosecute the Slock.it founders
  • Why the SEC will likely focus on token sales involving fraud
  • How the SEC’s limited resources will make it hard for it to impact the ICO boom
  • The implications of the SEC report for cryptocurrency exchanges

    • Episode links:

    • SEC Press Release on The DAO
    • SEC Report on Investigation of The DAO
    • Seven Takeaways from the DAO Report - Kyle Mitchell
    • EB134 – Emin Gün Sirer And Vlad Zamfir: On A Rocky DAO
    • Nicolas Morgan Website
    • The DAO Report: Understanding the Risk of SEC Enforcement - CoinDesk

      • This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/198

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